Tilray Brands, Inc. (NASDAQ:TLRY) Stock Has Average Price Target of $7.00

Tilray Brands, Inc. (NASDAQ:TLRY) has received a consensus rating of “Hold” from the seven ratings firms that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $7.00.

TLRY has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of Tilray Brands from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. TD Securities raised shares of Tilray Brands to a “strong-buy” rating in a report on Friday, July 31st. Zacks Research lowered shares of Tilray Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday. ATB Cormark Capital Markets decreased their price objective on shares of Tilray Brands from $8.00 to $6.00 and set a “hold” rating on the stock in a research note on Monday, September 21st. Finally, TD Cowen dropped their price target on Tilray Brands from $7.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, July 14th.

Tilray Brands Trading Down 4.8%

Shares of TLRY opened at $3.57 on Friday. 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 stock has a market cap of $486.23 million, a PE ratio of -3.31 and a beta of 1.91. Tilray Brands has a 1 year low of $3.54 and a 1 year high of $23.20. The stock has a 50 day simple moving average of $4.34 and a 200-day simple moving average of $5.14.

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 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. On average, sell-side analysts predict that Tilray Brands will post -0.42 EPS for the current fiscal year.

Insider Activity at Tilray Brands

In related news, CFO Carl Merton purchased 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The shares were acquired at an average cost of $4.62 per share, with a total value of $46,200.00. Following the completion of the purchase, the chief financial officer directly owned 139,753 shares of the company’s stock, valued at $645,658.86. This trade represents a 7.71% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have purchased 15,000 shares of company stock worth $69,225 over the last quarter. 0.84% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Integrated Wealth Concepts LLC acquired a new stake in Tilray Brands in the second quarter worth about $27,000. Hilton Head Capital Partners LLC acquired a new position in shares of Tilray Brands in the 4th quarter valued at $38,000. Deutsche Bank AG bought a new position in shares of Tilray Brands in the 2nd quarter worth $44,000. Corient Private Wealth LP acquired a new stake in shares of Tilray Brands during the second quarter worth $53,000. Finally, Essential Partners LLC boosted its holdings 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 during the last quarter. 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 headquartered in New York. Its operations span cannabis, beverage alcohol, wellness products and related consumer brands. The company develops, produces, markets and distributes cannabis products, including dried flower, pre-rolls, vapes, concentrates, edibles and medical cannabis, where permitted by local regulations.

Tilray also operates a beverage alcohol platform that includes beer, spirits and other alcoholic beverages.