Mitchell Gendel Buys 2,500 Shares of Tilray Brands (NASDAQ:TLRY) Stock

Tilray Brands, Inc. (NASDAQ:TLRY) General Counsel Mitchell Gendel purchased 2,500 shares of Tilray Brands stock in a transaction on Thursday, August 6th. The stock was bought at an average price of $4.43 per share, with a total value of $11,075.00. Following the completion of the acquisition, the general counsel directly owned 124,883 shares of the company’s stock, valued at approximately $553,231.69. This trade represents a 2.04% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Tilray Brands Price Performance

Shares of NASDAQ TLRY opened at $4.57 on Friday. The firm’s 50-day moving average price is $4.58 and its 200-day moving average price is $6.08. Tilray Brands, Inc. has a 1-year low of $3.67 and a 1-year high of $23.20. The firm has a market capitalization of $532.63 million, a P/E ratio of -4.23 and a beta of 1.90. The company has a current ratio of 2.21, a quick ratio of 1.37 and a debt-to-equity ratio of 0.22.

Tilray Brands (NASDAQ:TLRY) last issued its earnings results on Tuesday, July 28th. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.42). The firm had revenue of $281.71 million during the quarter, compared to the consensus estimate of $246.30 million. Tilray Brands had a negative net margin of 13.11% and a negative return on equity of 7.76%. Equities research analysts anticipate that Tilray Brands, Inc. will post -0.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tilray Brands

Several institutional investors have recently bought and sold shares of TLRY. Hilton Head Capital Partners LLC purchased a new position in Tilray Brands in the 4th quarter valued at approximately $38,000. Essential Partners LLC boosted its holdings in shares of Tilray Brands by 110,137.5% in the first quarter. Essential Partners LLC now owns 8,819 shares of the company’s stock worth $57,000 after acquiring an additional 8,811 shares during the period. Deutsche Bank AG bought a new position in shares of Tilray Brands in the second quarter worth $44,000. Engineers Gate Manager LP purchased a new position in shares of Tilray Brands in the fourth quarter valued at $126,000. Finally, R Squared Ltd purchased a new position in shares of Tilray Brands in the first quarter valued at $94,000. Hedge funds and other institutional investors own 9.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TLRY shares. Weiss Ratings lowered shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 13th. TD Securities raised shares of Tilray Brands to a “strong-buy” rating in a research report on Friday, July 31st. Wall Street Zen lowered shares of Tilray Brands from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Finally, TD Cowen dropped their price target 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 equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

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.