Key Points
- Tilray Brands General Counsel Mitchell Gendel bought 2,500 shares at an average price of $4.43, investing $11,075 and increasing his direct ownership by 2.04% to 124,883 shares.
- Tilray reported a quarterly loss of $0.43 per share, missing estimates by $0.42, although revenue of $281.71 million exceeded consensus expectations of $246.30 million.
- Analyst sentiment remains mixed but leans positive, with a consensus “Moderate Buy” rating and an average price target of $11, compared with the stock’s recent price near $4.57.
Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) General Counsel Mitchell Gendel purchased 2,500 shares of the stock in a transaction dated Thursday, August 6th. The shares were 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 represents a 2.04% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Tilray Brands Trading Up 2.9%
NASDAQ TLRY opened at $4.57 on Friday. Tilray Brands, Inc. has a 12 month low of $3.67 and a 12 month high of $23.20. The company has a current ratio of 2.21, a quick ratio of 1.37 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $532.63 million, a PE ratio of -4.23 and a beta of 1.90. The business's 50-day moving average price is $4.58 and its two-hundred day moving average price is $6.08.
Tilray Brands (NASDAQ:TLRY - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The company reported ($0.43) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.42). Tilray Brands had a negative return on equity of 7.76% and a negative net margin of 13.11%.The company had revenue of $281.71 million for the quarter, compared to the consensus estimate of $246.30 million. On average, analysts expect that Tilray Brands, Inc. will post -0.4 EPS for the current year.
Analysts Set New Price Targets
A number of research firms have issued reports on TLRY. Wall Street Zen downgraded shares of Tilray Brands from a "hold" rating to a "sell" rating in a report on Saturday, August 1st. 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. Weiss Ratings lowered Tilray Brands from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, May 13th. Finally, TD Securities upgraded shares of Tilray Brands to a "strong-buy" rating in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $11.00.
Read Our Latest Report on Tilray Brands
Institutional Trading of Tilray Brands
Institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new position in Tilray Brands in the 2nd quarter valued at $2,073,000. Deutsche Bank AG purchased a new stake in shares of Tilray Brands in the second quarter worth $44,000. State of Wyoming bought a new stake in Tilray Brands during the second quarter valued at $171,000. Essential Partners LLC boosted its stake in Tilray Brands by 110,137.5% during the first 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 during the period. Finally, Entropy Technologies LP purchased a new position in Tilray Brands during the first quarter worth about $123,000. 9.35% of the stock is currently owned by hedge funds and other institutional investors.
About Tilray Brands
(
Get Free Report)
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.
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