Tilray Brands (NASDAQ:TLRY) Stock Price Up 3.7% – Should You Buy?

Shares of Tilray Brands, Inc. (NASDAQ:TLRY) rose 3.7% on Tuesday . The stock traded as high as $4.29 and last traded at $4.23. 4,196,263 shares changed hands during mid-day trading, a decline of 0% from the average session volume of 4,215,176 shares. The stock had previously closed at $4.08.

Analyst Upgrades and Downgrades

TLRY has been the topic of several research reports. TD Cowen reduced their price objective on Tilray Brands from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, July 14th. Wall Street Zen cut Tilray Brands from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Weiss Ratings upgraded Tilray Brands from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, August 24th. TD Securities raised Tilray Brands to a “strong-buy” rating in a research note on Friday, July 31st. Finally, ATB Cormark Capital Markets decreased their price target on Tilray Brands from $8.00 to $6.00 and set a “hold” rating on the stock in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.00.

Tilray Brands Stock Up 3.7%

The business has a fifty day moving average of $4.38 and a 200 day moving average of $5.31. The firm has a market cap of $576.13 million, a P/E ratio of -3.92 and a beta of 1.92. The company has a quick ratio of 1.37, a current ratio of 2.21 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) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.42). The company had revenue of $281.71 million for the quarter, compared to the consensus estimate of $246.30 million. Tilray Brands had a negative return on equity of 7.76% and a negative net margin of 13.11%. On average, equities research analysts predict that Tilray Brands, Inc. will post -0.42 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Carl Merton acquired 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The stock was purchased at an average price of $4.62 per share, for a total transaction of $46,200.00. Following the completion of the acquisition, the chief financial officer owned 139,753 shares in the company, valued at $645,658.86. This trade represents a 7.71% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders have purchased 15,000 shares of company stock worth $69,225. 0.84% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TLRY. Engineers Gate Manager LP lifted its holdings in shares of Tilray Brands by 124.1% during the 2nd quarter. Engineers Gate Manager LP now owns 60,839 shares of the company’s stock valued at $273,000 after purchasing an additional 33,688 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in Tilray Brands during the 2nd quarter worth approximately $27,000. Squarepoint Ops LLC acquired a new stake in Tilray Brands during the 2nd quarter worth approximately $192,000. Amundi bought a new position in Tilray Brands in the second quarter valued at approximately $131,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Tilray Brands in the second quarter valued at approximately $75,000. 9.35% of the stock is currently owned by institutional investors.

Tilray Brands Company Profile

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.