Tilray Brands (NASDAQ:TLRY) Trading Up 3% – What’s Next?

Shares of Tilray Brands, Inc. (NASDAQ:TLRY) shot up 3% during mid-day trading on Monday . The company traded as high as $4.24 and last traded at $4.14. Approximately 4,365,796 shares were traded during mid-day trading, an increase of 3% from the average session volume of 4,239,479 shares. The stock had previously closed at $4.02.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of Tilray Brands from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, August 24th. Wall Street Zen downgraded Tilray Brands from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. TD Cowen lowered their price target on Tilray Brands from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Tuesday, July 14th. Finally, TD Securities upgraded Tilray Brands to a “strong-buy” rating in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $8.00.

Tilray Brands Trading Up 3.0%

The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.37 and a current ratio of 2.21. The firm has a market capitalization of $563.88 million, a PE ratio of -3.83 and a beta of 1.92. The stock’s 50-day simple moving average is $4.43 and its 200-day simple moving average is $5.47.

Tilray Brands (NASDAQ:TLRY) last posted 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 company had revenue of $281.71 million during the quarter, compared to analysts’ expectations of $246.30 million. Tilray Brands had a negative return on equity of 7.76% and a negative net margin of 13.11%. As a group, sell-side analysts expect that Tilray Brands, Inc. will post -0.42 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Carl Merton acquired 10,000 shares of the stock in a transaction on Tuesday, August 4th. The stock was acquired at an average cost of $4.62 per share, for a total transaction of $46,200.00. Following the completion of the acquisition, the chief financial officer directly owned 139,753 shares of the company’s stock, valued at approximately $645,658.86. This represents a 7.71% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have bought 15,000 shares of company stock valued at $69,225 in the last ninety days. Company insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TLRY. Integrated Wealth Concepts LLC purchased a new position in shares of Tilray Brands in the 2nd quarter valued at approximately $27,000. Hilton Head Capital Partners LLC bought a new position in Tilray Brands in the fourth quarter worth $38,000. Deutsche Bank AG bought a new position in Tilray Brands in the second quarter worth $44,000. Corient Private Wealth LP purchased a new position in Tilray Brands during the second quarter valued at $53,000. Finally, Essential Partners LLC boosted its holdings in shares of Tilray Brands by 110,137.5% during the 1st quarter. Essential Partners LLC now owns 8,819 shares of the company’s stock valued at $57,000 after buying an additional 8,811 shares in the last quarter. Institutional investors own 9.35% of the company’s stock.

About Tilray Brands

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.