Jefferies Financial Group Issues Positive Forecast for Tilray Brands (NASDAQ:TLRY) Stock Price

Tilray Brands (NASDAQ:TLRY) had its target price hoisted by Jefferies Financial Group from $1.50 to $2.00 in a research note issued to investors on Monday,Benzinga reports. Jefferies Financial Group currently has a buy rating on the stock.

Several other brokerages have also commented on TLRY. Zelman & Associates reissued a “neutral” rating on shares of Tilray Brands in a report on Tuesday, July 29th. Wall Street Zen lowered Tilray Brands to a “strong sell” rating in a report on Saturday, July 5th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $1.94.

Tilray Brands Stock Up 20.9%

Tilray Brands stock opened at $1.39 on Monday. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of -0.60 and a beta of 1.85. Tilray Brands has a 52 week low of $0.3507 and a 52 week high of $1.94. The business’s 50-day moving average price is $0.68 and its 200 day moving average price is $0.61. The company has a quick ratio of 1.49, a current ratio of 2.46 and a debt-to-equity ratio of 0.20.

Tilray Brands (NASDAQ:TLRY) last posted its earnings results on Monday, July 28th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.05. The firm had revenue of $224.54 million for the quarter, compared to analyst estimates of $250.41 million. Tilray Brands had a negative return on equity of 6.83% and a negative net margin of 265.69%. As a group, sell-side analysts anticipate that Tilray Brands will post -0.2 earnings per share for the current year.

Insider Activity

In other news, CEO Irwin D. Simon purchased 165,000 shares of the stock in a transaction dated Wednesday, July 30th. The shares were purchased at an average cost of $0.61 per share, with a total value of $100,650.00. Following the completion of the purchase, the chief executive officer directly owned 3,941,633 shares of the company’s stock, valued at approximately $2,404,396.13. The trade was a 4.37% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.60% of the stock is owned by corporate insiders.

Institutional Trading of Tilray Brands

A number of institutional investors have recently made changes to their positions in the company. Tidal Investments LLC boosted its stake in shares of Tilray Brands by 15.0% in the second quarter. Tidal Investments LLC now owns 28,971,835 shares of the company’s stock worth $12,006,000 after acquiring an additional 3,776,410 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Tilray Brands by 20.1% in the fourth quarter. Geode Capital Management LLC now owns 2,405,911 shares of the company’s stock worth $3,200,000 after acquiring an additional 403,371 shares during the last quarter. Ausdal Financial Partners Inc. acquired a new stake in shares of Tilray Brands in the second quarter worth approximately $939,000. Dimensional Fund Advisors LP boosted its stake in shares of Tilray Brands by 54.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company’s stock worth $2,890,000 after acquiring an additional 769,569 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Tilray Brands by 17.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,964,380 shares of the company’s stock worth $2,613,000 after acquiring an additional 286,481 shares during the last quarter. 9.35% of the stock is owned by institutional investors and hedge funds.

Tilray Brands Company Profile

Tilray, Inc engages in the research, cultivation, processing, and distribution of medical cannabis. The company offers its products in Argentina, Australia, Canada, Chile, Croatia, Cyprus, the Czech Republic, Germany, New Zealand, and South Africa. Tilray, Inc is headquartered in Canada.