Tilray Brands (NASDAQ:TLRY) Stock Price Up 2.2% – Time to Buy?

Tilray Brands, Inc. (NASDAQ:TLRY) shares shot up 2.2% during mid-day trading on Thursday. The stock traded as high as $3.28 and last traded at $3.21. 2,643,844 shares traded hands during trading, a decline of 38% from the average daily volume of 4,232,858 shares. The stock had previously closed at $3.14.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. ATB Cormark Capital Markets lowered their price target on Tilray Brands from $8.00 to $6.00 and set a “hold” rating on the stock in a report on Monday, September 21st. Weiss Ratings raised shares of Tilray Brands from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, October 8th. Wall Street Zen cut shares of Tilray Brands from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Canaccord Genuity Group decreased their price objective on shares of Tilray Brands from $4.50 to $4.00 and set a “hold” rating for the company in a report on Friday, October 9th. Finally, TD decreased their price objective on shares of Tilray Brands from $4.70 to $4.50 and set a “buy” rating for the company in a report on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Tilray Brands currently has a consensus rating of “Hold” and an average price target of $5.90.

Tilray Brands Stock Performance

The firm’s 50 day moving average price is $4.21 and its 200-day moving average price is $4.94. The firm has a market cap of $437.21 million, a price-to-earnings ratio of -2.29 and a beta of 1.91. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.88 and a quick ratio of 1.11.

Tilray Brands (NASDAQ:TLRY) last released its earnings results on Thursday, October 8th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.16. The firm had revenue of $257.15 million during the quarter, compared to analysts’ expectations of $266.26 million. Tilray Brands had a negative net margin of 16.91% and a negative return on equity of 10.39%. On average, analysts anticipate that Tilray Brands, Inc. will post -0.46 earnings per share for the current year.

Insider Transactions at Tilray Brands

In related news, CFO Carl Merton acquired 10,000 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were bought at an average price of $4.62 per share, for a total transaction of $46,200.00. Following the acquisition, the chief financial officer owned 139,753 shares in the company, valued at $645,658.86. This trade represents a 7.71% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have acquired 15,000 shares of company stock valued at $69,225. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Tilray Brands

Institutional investors and hedge funds have recently modified their holdings of the company. Integrated Wealth Concepts LLC acquired a new position in shares of Tilray Brands in the second quarter valued at $27,000. Deutsche Bank AG bought a new position in Tilray Brands in the second quarter worth $44,000. Corient Private Wealth LP acquired a new stake in Tilray Brands during the second quarter worth $53,000. Essential Partners LLC boosted its stake in Tilray Brands by 110,137.5% during the first quarter. Essential Partners LLC now owns 8,819 shares of the company’s stock worth $57,000 after buying an additional 8,811 shares in the last quarter. Finally, Centaurus Financial Inc. acquired a new stake in Tilray Brands during the second quarter worth $58,000. 9.35% of the stock is currently owned by institutional investors.

Tilray Brands Company Profile

Tilray Brands, Inc is a global consumer packaged goods company focused on cannabis, beverage alcohol, wellness and consumer products. The company develops, produces, distributes and markets a range of cannabis products, including dried flower, pre-rolls, vapes, edibles and medical cannabis products, subject to applicable regulations in the markets it serves.

Tilray also operates beverage alcohol businesses, including craft beer, spirits and other alcoholic beverages. Its portfolio has included brands such as SweetWater Brewing Company, Montauk Brewing Company and Breckenridge Distillery.