Tilray Brands (NASDAQ:TLRY) Price Target Cut to $4.50 by Analysts at TD

Tilray Brands (NASDAQ:TLRY) had its target price lowered by equities researchers at TD from $4.70 to $4.50 in a research report issued on Monday, BayStreet reports. The brokerage currently has a “buy” rating on the stock. TD’s target price indicates a potential upside of 19.21% from the stock’s previous close.

Several other brokerages also recently issued reports on TLRY. ATB Cormark Capital Markets cut their price target on shares of Tilray Brands from $8.00 to $6.00 and set a “hold” rating for the company in a report on Monday, September 21st. TD Cowen dropped their price objective 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. Weiss Ratings cut shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, September 21st. Wall Street Zen lowered Tilray Brands from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Finally, TD Securities raised Tilray Brands to a “strong-buy” rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $6.38.

Tilray Brands Price Performance

Tilray Brands stock traded up $0.17 during mid-day trading on Monday, hitting $3.77. 3,512,853 shares of the company were exchanged, compared to its average volume of 4,209,323. The company has a market capitalization of $514.15 million, a PE ratio of -3.50 and a beta of 1.91. The business has a fifty day moving average of $4.33 and a 200 day moving average of $5.11. Tilray Brands has a 1-year low of $3.54 and a 1-year high of $23.20. 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) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.42). Tilray Brands had a negative net margin of 13.11% and a negative return on equity of 7.76%. The firm had revenue of $281.71 million during the quarter, compared to analyst estimates of $246.30 million. As a group, sell-side analysts expect that Tilray Brands will post -0.42 earnings per share for the current year.

Insiders Place Their Bets

In other Tilray Brands news, CFO Carl Merton acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have purchased 15,000 shares of company stock valued at $69,225 in the last quarter. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

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