Tilray Brands (NASDAQ:TLRY) Shares Up 1.6% – What’s Next?

Tilray Brands, Inc. (NASDAQ:TLRY)’s stock price traded up 1.6% during trading on Tuesday. The stock traded as high as $3.84 and last traded at $3.78. 3,601,981 shares changed hands during trading, a decline of 14% from the average daily volume of 4,211,350 shares. The stock had previously closed at $3.72.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on TLRY shares. TD Securities upgraded Tilray Brands to a “strong-buy” rating in a research note on Friday, July 31st. Zacks Research lowered Tilray Brands from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 29th. Wall Street Zen cut Tilray Brands from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. ATB Cormark Capital Markets decreased their target price on Tilray Brands from $8.00 to $6.00 and set a “hold” rating for the company in a report on Monday, September 21st. Finally, Weiss Ratings lowered Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, September 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Tilray Brands currently has an average rating of “Hold” and a consensus price target of $6.38.

Tilray Brands Price Performance

The firm has a 50-day simple moving average of $4.33 and a two-hundred day simple moving average of $5.09. The company has a market capitalization of $514.85 million, a price-to-earnings ratio of -3.50 and a beta of 1.91. The company has a current ratio of 2.21, a quick ratio of 1.37 and a debt-to-equity ratio of 0.22.

Tilray Brands (NASDAQ:TLRY) last issued its quarterly earnings data 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). Tilray Brands had a negative net margin of 13.11% and a negative return on equity of 7.76%. The company had revenue of $281.71 million during the quarter, compared to analyst estimates of $246.30 million. As a group, analysts predict that Tilray Brands, Inc. will post -0.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Tilray Brands

In other news, CFO Carl Merton bought 10,000 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was purchased at an average cost of $4.62 per share, with a total value of $46,200.00. Following the acquisition, the chief financial officer directly owned 139,753 shares in the company, valued at $645,658.86. This trade represents a 7.71% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have purchased 15,000 shares of company stock worth $69,225. 0.84% of the stock is owned by insiders.

Institutional Trading of Tilray Brands

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Tilray Brands in the second quarter worth about $2,073,000. Swiss National Bank increased its stake in shares of Tilray Brands by 4.1% in the 1st quarter. Swiss National Bank now owns 230,503 shares of the company’s stock valued at $1,491,000 after purchasing an additional 9,100 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Tilray Brands by 6.1% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 208,229 shares of the company’s stock worth $935,000 after purchasing an additional 11,894 shares during the period. Dimensional Fund Advisors LP raised its holdings in Tilray Brands by 82.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 87,803 shares of the company’s stock worth $568,000 after purchasing an additional 39,801 shares during the period. Finally, Legal & General Group Plc purchased a new position in Tilray Brands during the second quarter worth approximately $381,000. Institutional investors and hedge funds own 9.35% of the company’s stock.

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.