Tilray Brands, Inc. (NASDAQ:TLRY) Receives $8.00 Average Target Price from Brokerages

Tilray Brands, Inc. (NASDAQ:TLRY) has earned a consensus recommendation of “Hold” from the seven brokerages that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $8.00.

Several brokerages have recently issued reports on TLRY. TD Cowen reduced their target price on Tilray Brands from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, July 14th. Weiss Ratings raised Tilray Brands from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, August 24th. TD Securities upgraded Tilray Brands to a “strong-buy” rating in a report on Friday, July 31st. Finally, Wall Street Zen downgraded Tilray Brands from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st.

Insider Buying and Selling at Tilray Brands

In other Tilray Brands news, CFO Carl Merton purchased 10,000 shares of Tilray Brands stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer owned 139,753 shares of the company’s stock, valued at approximately $645,658.86. This trade represents a 7.71% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have acquired 15,000 shares of company stock valued at $69,225 over the last ninety days. Company insiders own 0.84% of the company’s stock.

Institutional Trading of Tilray Brands

A number of large investors have recently made changes to their positions in the business. Tidal Investments LLC increased its position in shares of Tilray Brands by 15.0% during the 2nd quarter. Tidal Investments LLC now owns 28,971,835 shares of the company’s stock valued at $12,006,000 after purchasing an additional 3,776,410 shares during the last quarter. Millennium Management LLC lifted its position in Tilray Brands by 281.0% in the third quarter. Millennium Management LLC now owns 4,942,319 shares of the company’s stock worth $8,550,000 after buying an additional 3,645,060 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Tilray Brands in the third quarter worth $5,813,000. Ausdal Financial Partners Inc. purchased a new position in Tilray Brands during the second quarter worth $939,000. Finally, Scientech Research LLC purchased a new position in Tilray Brands during the third quarter worth $1,748,000. 9.35% of the stock is currently owned by institutional investors.

Tilray Brands Stock Performance

TLRY opened at $4.50 on Wednesday. The stock has a market capitalization of $612.92 million, a price-to-earnings ratio of -4.17 and a beta of 1.92. The company has a fifty day moving average of $4.46 and a 200 day moving average of $5.61. Tilray Brands has a fifty-two week low of $3.67 and a fifty-two week high of $23.20. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.37 and a current ratio of 2.21.

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

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.