Tilray Brands (NASDAQ:TLRY) Trading 3.4% Higher – Should You Buy?

Tilray Brands, Inc. (NASDAQ:TLRY)’s share price shot up 3.4% on Tuesday . The stock traded as high as $4.95 and last traded at $4.88. 3,471,468 shares traded hands during trading, a decline of 19% from the average session volume of 4,289,893 shares. The stock had previously closed at $4.72.

Analyst Ratings Changes

TLRY has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Tilray Brands in a report on Friday, August 7th. TD Cowen cut their target price on Tilray Brands from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Tuesday, July 14th. Wall Street Zen lowered Tilray Brands from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Finally, TD Securities raised Tilray Brands to a “strong-buy” rating in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Tilray Brands has an average rating of “Hold” and a consensus price target of $8.00.

Tilray Brands Trading Up 3.6%

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 company has a market cap of $666.02 million, a P/E ratio of -4.53 and a beta of 1.90. The business has a 50-day moving average price of $4.48 and a two-hundred day moving average price of $5.78.

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

Insider Activity at Tilray Brands

In other news, CFO Carl A. Merton acquired 10,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer directly owned 139,753 shares in the company, valued at approximately $645,658.86. The trade was a 7.71% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have bought 15,000 shares of company stock valued at $69,225. Company insiders own 0.84% of the company’s stock.

Institutional Investors Weigh In On Tilray Brands

Hedge funds have recently bought and sold shares of the company. Hilton Head Capital Partners LLC acquired a new position in shares of Tilray Brands in the fourth quarter valued at $38,000. Pictet Asset Management Holding SA increased its position in shares of Tilray Brands by 38.9% in the first quarter. Pictet Asset Management Holding SA now owns 18,387 shares of the company’s stock worth $119,000 after purchasing an additional 5,145 shares during the period. Schonfeld Strategic Advisors LLC raised its position in shares of Tilray Brands by 4.5% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 144,358 shares of the company’s stock valued at $1,304,000 after buying an additional 6,182 shares in the last quarter. Baader Bank Aktiengesellschaft lifted its stake in Tilray Brands by 17.7% during the first quarter. Baader Bank Aktiengesellschaft now owns 47,938 shares of the company’s stock worth $293,000 after purchasing an additional 7,226 shares during the last quarter. Finally, IFP Advisors Inc lifted its position in shares of Tilray Brands by 14.3% during the 4th quarter. IFP Advisors Inc now owns 60,318 shares of the company’s stock worth $545,000 after buying an additional 7,541 shares during the last quarter. 9.35% of the stock is currently owned by institutional investors and hedge funds.

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.