Tilray Brands (NASDAQ:TLRY) Trading Up 5.3% – What’s Next?

Shares of Tilray Brands, Inc. (NASDAQ:TLRY) traded up 5.3% during trading on Thursday . The stock traded as high as $9.31 and last traded at $9.13. 3,561,359 shares changed hands during mid-day trading, a decline of 45% from the average session volume of 6,494,798 shares. The stock had previously closed at $8.67.

Analysts Set New Price Targets

Several research firms recently commented on TLRY. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tilray Brands in a research note on Wednesday. Zacks Research cut shares of Tilray Brands from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 13th. Wall Street Zen raised Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Saturday, October 11th. Roth Mkm dropped their price objective on shares of Tilray Brands from $20.00 to $10.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, Atb Cap Markets raised shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 10th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $13.33.

Tilray Brands Stock Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 2.81 and a quick ratio of 1.72. The company has a 50 day moving average of $9.49 and a two-hundred day moving average of $10.87. The company has a market capitalization of $1.05 billion, a PE ratio of -0.41 and a beta of 1.77.

Tilray Brands (NASDAQ:TLRY) last issued its quarterly earnings results on Thursday, January 8th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.27). Tilray Brands had a negative net margin of 251.69% and a negative return on equity of 6.35%. The business had revenue of $217.51 million for the quarter, compared to analysts’ expectations of $211.15 million. During the same period last year, the business earned ($0.03) earnings per share. As a group, equities research analysts predict that Tilray Brands, Inc. will post -0.2 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Vontobel Holding Ltd. raised its position in Tilray Brands by 12.7% in the 2nd quarter. Vontobel Holding Ltd. now owns 272,662 shares of the company’s stock worth $113,000 after buying an additional 30,818 shares during the last quarter. Stratos Wealth Partners LTD. boosted its stake in shares of Tilray Brands by 704.5% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 81,272 shares of the company’s stock worth $34,000 after acquiring an additional 71,170 shares during the last quarter. Tradewinds Capital Management LLC lifted its position in Tilray Brands by 177.0% during the second quarter. Tradewinds Capital Management LLC now owns 203,461 shares of the company’s stock valued at $84,000 after purchasing an additional 130,001 shares in the last quarter. Quinn Opportunity Partners LLC lifted its position in shares of Tilray Brands by 11.6% during the 2nd quarter. Quinn Opportunity Partners LLC now owns 1,918,080 shares of the company’s stock valued at $795,000 after buying an additional 200,000 shares in the last quarter. Finally, Blair William & Co. IL boosted its position in shares of Tilray Brands by 55.9% in the second quarter. Blair William & Co. IL now owns 239,743 shares of the company’s stock worth $99,000 after purchasing an additional 86,010 shares during the period. 9.35% of the stock is owned by hedge funds and other institutional investors.

About Tilray Brands

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.