Tilray Brands (NASDAQ:TLRY) Trading Up 8.1% – Still a Buy?

Tilray Brands, Inc. (NASDAQ:TLRY)’s share price shot up 8.1% during mid-day trading on Tuesday . The stock traded as high as $4.78 and last traded at $4.78. 5,542,429 shares traded hands during trading, an increase of 28% from the average session volume of 4,335,643 shares. The stock had previously closed at $4.42.

Analyst Upgrades and Downgrades

TLRY has been the topic of a number of analyst reports. TD Securities raised shares of Tilray Brands to a “strong-buy” rating in a report on Friday, July 31st. TD Cowen lowered their target price on shares of Tilray Brands from $7.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, July 14th. Wall Street Zen lowered shares of Tilray Brands from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Tilray Brands in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $11.00.

Tilray Brands Trading Up 0.3%

The company has a quick ratio of 1.37, a current ratio of 2.21 and a debt-to-equity ratio of 0.22. The firm has a market cap of $639.46 million, a P/E ratio of -4.37 and a beta of 1.90. The firm’s 50-day simple moving average is $4.54 and its 200 day simple moving average is $5.97.

Tilray Brands (NASDAQ:TLRY) last issued its quarterly earnings results on Tuesday, July 28th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.42). The company had revenue of $281.71 million for the quarter, compared to analysts’ expectations of $246.30 million. Tilray Brands had a negative return on equity of 7.76% and a negative net margin of 13.11%. As a group, analysts expect that Tilray Brands, Inc. will post -0.4 earnings per share for the current year.

Insider Activity at Tilray Brands

In other Tilray Brands news, CFO Carl A. Merton purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was bought at an average price of $4.62 per share, with a total value of $46,200.00. Following the completion of the purchase, the chief financial officer directly owned 139,753 shares of the company’s stock, valued at $645,658.86. The trade was a 7.71% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders purchased a total of 15,000 shares of company stock worth $69,225 in the last ninety days. 0.84% of the stock is owned by corporate insiders.

Institutional Trading of Tilray Brands

A number of hedge funds have recently made changes to their positions in TLRY. Tidal Investments LLC increased its stake in Tilray Brands by 15.0% in the 2nd quarter. Tidal Investments LLC now owns 28,971,835 shares of the company’s stock worth $12,006,000 after acquiring an additional 3,776,410 shares during the last quarter. Millennium Management LLC raised its stake in Tilray Brands by 281.0% during the third quarter. Millennium Management LLC now owns 4,942,319 shares of the company’s stock valued at $8,550,000 after purchasing an additional 3,645,060 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Tilray Brands during the third quarter valued at $5,813,000. Ausdal Financial Partners Inc. bought a new position in Tilray Brands during the second quarter valued at $939,000. Finally, Swiss National Bank grew its stake in shares of Tilray Brands by 4.4% in the 3rd quarter. Swiss National Bank now owns 2,013,038 shares of the company’s stock worth $3,483,000 after buying an additional 84,900 shares in the last quarter. 9.35% of the stock is owned by institutional investors.

Tilray Brands Company Profile

Tilray Brands, Inc is a global cannabis-lifestyle and consumer packaged goods company engaged in the cultivation, production, distribution and sale of cannabis and cannabinoid-based products. The company develops and markets a diverse portfolio of branded products spanning medical cannabis, adult-use recreational products and wellness offerings. Through state-of-the-art cultivation facilities, research and development efforts, and quality control systems, Tilray Brands aims to deliver consistent, scalable products for a range of patient and consumer needs.

Tilray’s product lineup includes cannabis flower, pre-rolls, oils and tinctures, vapes, edibles and topicals, as well as hemp-derived cannabidiol (CBD) products.