Tilray Brands (NASDAQ:TLRY) Shares Up 1.8% – Time to Buy?

Tilray Brands, Inc. (NASDAQ:TLRY) rose 1.8% during mid-day trading on Tuesday. The stock traded as high as $2.80 and last traded at $2.77. Approximately 2,361,853 shares were traded during trading, a decline of 44% from the average session volume of 4,207,810 shares. The stock had previously closed at $2.72.

Wall Street Analysts Forecast Growth

TLRY has been the subject of several recent research reports. Zacks Research lowered Tilray Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 29th. TD Securities raised Tilray Brands to a “strong-buy” rating in a research report on Friday, July 31st. Weiss Ratings lowered Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday. TD Cowen reduced their target price on shares of Tilray Brands from $7.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, July 14th. Finally, Canaccord Genuity Group decreased their price target on shares of Tilray Brands from $4.50 to $4.00 and set a “hold” rating for the company in a research report on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $5.90.

Tilray Brands Stock Performance

The company has a current ratio of 1.88, a quick ratio of 1.11 and a debt-to-equity ratio of 0.17. The company has a market cap of $409.37 million, a PE ratio of -1.98 and a beta of 1.91. The firm’s 50-day simple moving average is $3.95 and its two-hundred day simple moving average is $5.64.

Tilray Brands (NASDAQ:TLRY) last posted its quarterly earnings data on Thursday, October 8th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.16. Tilray Brands had a negative net margin of 16.91% and a negative return on equity of 10.39%. The business had revenue of $257.15 million during the quarter, compared to the consensus estimate of $266.26 million. As a group, research analysts anticipate that Tilray Brands, Inc. will post -0.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Carl Merton purchased 10,000 shares of the stock in a transaction on Tuesday, August 4th. The stock was bought at an average price of $4.62 per share, with a total value of $46,200.00. Following the transaction, the chief financial officer owned 139,753 shares in the company, valued at $645,658.86. The trade was a 7.71% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders bought 15,000 shares of company stock worth $69,225. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Tilray Brands during the second quarter worth about $2,073,000. Legal & General Group Plc purchased a new position in Tilray Brands during the 2nd quarter worth approximately $381,000. SLT Holdings LLC purchased a new position in Tilray Brands during the 3rd quarter worth approximately $247,000. Squarepoint Ops LLC acquired a new stake in Tilray Brands during the 2nd quarter valued at approximately $192,000. Finally, Jupiter Topco LLC acquired a new stake in Tilray Brands during the 2nd quarter valued at approximately $188,000. 9.35% of the stock is currently owned by hedge funds and other institutional investors.

Tilray Brands Company Profile

Tilray Brands, Inc is a global consumer packaged goods company operating across the cannabis, beverage alcohol, wellness and distribution sectors. Its cannabis business includes adult-use and medical cannabis products such as dried flower, pre-rolls, vapes, concentrates, edibles and beverages, marketed under brands including Good Supply, RIFF and Broken Coast.

The company also owns and operates beverage alcohol businesses, including SweetWater Brewing Company, Montauk Brewing Company, Alpine Beer Company, Green Flash Brewing Co and Blue Point Brewing Company.