Tilray Brands (NASDAQ:TLRY) Shares Up 3.4% – Time to Buy?

Shares of Tilray Brands, Inc. (NASDAQ:TLRY) were up 3.4% during trading on Tuesday . The company 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

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

Tilray Brands Trading Down 1.8%

The company has a debt-to-equity ratio of 0.22, a current ratio of 2.21 and a quick ratio of 1.37. The firm’s fifty day moving average is $4.47 and its 200-day moving average is $5.74. The firm has a market cap of $620.41 million, a price-to-earnings ratio of -4.24 and a beta of 1.90.

Tilray Brands (NASDAQ:TLRY) last released 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). The business had revenue of $281.71 million for the quarter, compared to analyst estimates of $246.30 million. Tilray Brands had a negative return on equity of 7.76% and a negative net margin of 13.11%. Equities analysts anticipate that Tilray Brands, Inc. will post -0.42 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Carl A. Merton purchased 10,000 shares of the company’s stock in a transaction that occurred on 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 purchase, the chief financial officer owned 139,753 shares in the company, valued at $645,658.86. This represents a 7.71% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders purchased 15,000 shares of company stock worth $69,225. 0.84% of the stock is currently owned by corporate insiders.

Institutional Trading of Tilray Brands

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Hillsdale Investment Management Inc. purchased a new stake in shares of Tilray Brands in the fourth quarter worth approximately $4,855,000. IFP Advisors Inc boosted its position in shares of Tilray Brands by 14.3% during the fourth quarter. IFP Advisors Inc now owns 60,318 shares of the company’s stock valued at $545,000 after buying an additional 7,541 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new stake in Tilray Brands during the fourth quarter worth $346,000. Essential Partners LLC grew 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 in the last quarter. Finally, Entropy Technologies LP purchased a new stake in Tilray Brands in the 1st quarter valued at $123,000. Institutional investors own 9.35% of the company’s stock.

About Tilray Brands

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.