Tilray Brands (NASDAQ:TLRY) Stock Jumps 3% – Still a Buy?

Tilray Brands, Inc. (NASDAQ:TLRY) shares were up 3% during trading on Monday. The stock traded as high as $3.79 and last traded at $3.72. 4,305,504 shares changed hands during trading, an increase of 2% from the average daily volume of 4,214,247 shares. The stock had previously closed at $3.61.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TLRY. 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 reduced their target price on shares of Tilray Brands from $8.00 to $6.00 and set a “hold” rating on the stock in a report on Monday, September 21st. TD Securities upgraded shares of Tilray Brands to a “strong-buy” rating in a research note on Friday, July 31st. TD lowered their price target on shares of Tilray Brands from $4.70 to $4.50 and set a “buy” rating for the company in a report on Monday. Finally, TD Cowen dropped their price objective on shares of Tilray Brands from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $6.38.

Tilray Brands Stock Up 3.0%

The firm has a 50-day moving average price of $4.33 and a two-hundred day moving average price of $5.11. The firm has a market cap of $506.66 million, a price-to-earnings ratio of -3.44 and a beta of 1.91. 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) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.42). The business had revenue of $281.71 million during the quarter, compared to analyst estimates of $246.30 million. Tilray Brands had a negative net margin of 13.11% and a negative return on equity of 7.76%. On average, sell-side analysts forecast that Tilray Brands, Inc. will post -0.42 earnings per share for the current year.

Insider Buying and Selling at Tilray Brands

In related news, CFO Carl Merton bought 10,000 shares of the stock in a transaction dated Tuesday, August 4th. The stock was acquired at an average price of $4.62 per share, for a total transaction of $46,200.00. Following the acquisition, the chief financial officer owned 139,753 shares in the company, valued at approximately $645,658.86. This represents a 7.71% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders have purchased 15,000 shares of company stock worth $69,225. 1.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tilray Brands

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in Tilray Brands in the second quarter valued at $2,073,000. Legal & General Group Plc purchased a new position in shares of Tilray Brands during the second quarter worth about $381,000. Squarepoint Ops LLC acquired a new stake in shares of Tilray Brands during the second quarter worth about $192,000. Jupiter Topco LLC acquired a new stake in shares of Tilray Brands during the second quarter worth about $188,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of Tilray Brands in the 2nd quarter valued at about $182,000. 9.35% of the stock is owned by hedge funds and other institutional investors.

About Tilray Brands

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.