Tilray Brands (NASDAQ:TLRY) Given New $2.00 Price Target at Jefferies Financial Group

Tilray Brands (NASDAQ:TLRY) had its price target lifted by Jefferies Financial Group from $1.50 to $2.00 in a research report report published on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

TLRY has been the topic of several other research reports. Zelman & Associates reiterated a “neutral” rating on shares of Tilray Brands in a report on Tuesday, July 29th. Wall Street Zen lowered Tilray Brands to a “strong sell” rating in a report on Saturday, July 5th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Tilray Brands has a consensus rating of “Hold” and a consensus target price of $1.94.

Tilray Brands Stock Down 5.5%

Shares of Tilray Brands stock opened at $1.37 on Monday. Tilray Brands has a one year low of $0.35 and a one year high of $1.88. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.46 and a quick ratio of 1.49. The stock’s 50-day moving average is $0.72 and its 200 day moving average is $0.62. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of -0.59 and a beta of 1.85.

Tilray Brands (NASDAQ:TLRY) last announced its earnings results on Monday, July 28th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.05. The company had revenue of $224.54 million for the quarter, compared to analyst estimates of $250.41 million. Tilray Brands had a negative return on equity of 6.83% and a negative net margin of 265.69%. Equities research analysts anticipate that Tilray Brands will post -0.2 EPS for the current year.

Insider Buying and Selling at Tilray Brands

In related news, CEO Irwin D. Simon bought 165,000 shares of the company’s stock in a transaction dated Wednesday, July 30th. The shares were bought at an average price of $0.61 per share, for a total transaction of $100,650.00. Following the completion of the acquisition, the chief executive officer directly owned 3,941,633 shares of the company’s stock, valued at $2,404,396.13. This trade represents a 4.37% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Marex Group plc bought a new position in shares of Tilray Brands in the second quarter valued at approximately $40,000. State of Wyoming lifted its holdings in shares of Tilray Brands by 38.7% in the second quarter. State of Wyoming now owns 334,576 shares of the company’s stock valued at $139,000 after purchasing an additional 93,411 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in shares of Tilray Brands by 100.2% in the second quarter. Corient Private Wealth LLC now owns 388,366 shares of the company’s stock valued at $161,000 after purchasing an additional 194,369 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of Tilray Brands by 15.0% in the second quarter. Tidal Investments LLC now owns 28,971,835 shares of the company’s stock valued at $12,006,000 after purchasing an additional 3,776,410 shares in the last quarter. Finally, Hilton Capital Management LLC bought a new position in shares of Tilray Brands in the second quarter valued at approximately $41,000. Institutional investors own 9.35% of the company’s stock.

Tilray Brands Company Profile

Tilray, Inc engages in the research, cultivation, processing, and distribution of medical cannabis. The company offers its products in Argentina, Australia, Canada, Chile, Croatia, Cyprus, the Czech Republic, Germany, New Zealand, and South Africa. Tilray, Inc is headquartered in Canada.