Tilray Brands (NASDAQ:TLRY) General Counsel Acquires $11,075.00 in Stock

Tilray Brands, Inc. (NASDAQ:TLRY) General Counsel Mitchell Gendel bought 2,500 shares of the firm’s stock in a transaction on Thursday, August 6th. The shares were bought at an average price of $4.43 per share, for a total transaction of $11,075.00. Following the completion of the transaction, the general counsel directly owned 124,883 shares in the company, valued at approximately $553,231.69. This represents a 2.04% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this link.

Tilray Brands Price Performance

Shares of NASDAQ TLRY opened at $4.57 on Monday. The company has a current ratio of 2.21, a quick ratio of 1.37 and a debt-to-equity ratio of 0.22. The company’s 50-day moving average price is $4.58 and its 200 day moving average price is $6.06. Tilray Brands, Inc. has a 52 week low of $3.67 and a 52 week high of $23.20. The stock has a market cap of $622.43 million, a price-to-earnings ratio of -4.23 and a beta of 1.90.

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

Analyst Upgrades and Downgrades

TLRY has been the subject of several research analyst reports. Weiss Ratings lowered Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 13th. TD Cowen decreased their target price on Tilray Brands from $7.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, July 14th. TD Securities raised shares of Tilray Brands to a “strong-buy” rating in a research report on Friday, July 31st. Finally, Wall Street Zen downgraded shares of Tilray Brands from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Tilray Brands currently has an average rating of “Moderate Buy” and a consensus target price of $11.00.

Institutional Investors Weigh In On Tilray Brands

A number of hedge funds have recently bought and sold shares of TLRY. Hilton Head Capital Partners LLC acquired a new stake in shares of Tilray Brands during the 4th quarter valued at approximately $38,000. Essential Partners LLC boosted its holdings in Tilray Brands by 110,137.5% in the first quarter. Essential Partners LLC now owns 8,819 shares of the company’s stock worth $57,000 after purchasing an additional 8,811 shares during the period. Deutsche Bank AG acquired a new position in Tilray Brands in the second quarter worth $44,000. Engineers Gate Manager LP bought a new stake in Tilray Brands during the fourth quarter valued at $126,000. Finally, R Squared Ltd bought a new stake in Tilray Brands during the first quarter valued at $94,000. Institutional investors and hedge funds own 9.35% of the company’s stock.

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.