Tilray Brands (NASDAQ:TLRY) Trading Up 1.6% – Time to Buy?

Tilray Brands, Inc. (NASDAQ:TLRY)’s share price rose 1.6% during trading on Thursday . The stock traded as high as $5.28 and last traded at $5.19. Approximately 2,969,162 shares traded hands during trading, a decline of 32% from the average daily volume of 4,352,233 shares. The stock had previously closed at $5.11.

Analyst Ratings Changes

TLRY has been the topic of a number of analyst reports. TD Cowen reduced their price target on Tilray Brands from $10.00 to $7.00 and set a “buy” rating on the stock in a research report on Monday, March 30th. Zacks Research upgraded Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 11th. Roth Mkm raised Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a research note on Thursday, April 2nd. ATB Cormark Capital Markets reduced their target price on Tilray Brands from $9.50 to $9.00 and set a “sector perform” rating on the stock in a report on Thursday, April 2nd. Finally, Wall Street Zen raised Tilray Brands from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $11.50.

Tilray Brands Trading Down 4.8%

The business has a 50 day moving average of $6.07 and a 200-day moving average of $7.67. The company has a current ratio of 2.79, a quick ratio of 1.66 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $575.76 million, a P/E ratio of -0.36 and a beta of 1.88.

Tilray Brands (NASDAQ:TLRY) last announced its quarterly earnings results on Wednesday, April 1st. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.10). Tilray Brands had a negative net margin of 156.51% and a negative return on equity of 3.31%. The company had revenue of $206.73 million during the quarter, compared to the consensus estimate of $201.35 million. During the same period in the previous year, the firm posted ($0.87) EPS. Analysts anticipate that Tilray Brands, Inc. will post -0.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tilray Brands news, Director David G. Hopkinson sold 33,556 shares of the stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $6.94, for a total transaction of $232,878.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Tidal Investments LLC lifted its stake in Tilray Brands by 15.0% in the 2nd quarter. Tidal Investments LLC now owns 28,971,835 shares of the company’s stock valued at $12,006,000 after acquiring an additional 3,776,410 shares in the last quarter. Millennium Management LLC grew its stake in shares of Tilray Brands by 281.0% during the 3rd quarter. Millennium Management LLC now owns 4,942,319 shares of the company’s stock worth $8,550,000 after acquiring an additional 3,645,060 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Tilray Brands in the third quarter valued at approximately $5,813,000. Ausdal Financial Partners Inc. bought a new stake in shares of Tilray Brands in the second quarter worth $939,000. Finally, Swiss National Bank lifted its position in shares of Tilray Brands by 4.4% in the third quarter. Swiss National Bank now owns 2,013,038 shares of the company’s stock worth $3,483,000 after purchasing an additional 84,900 shares in the last quarter. 9.35% of the stock is currently owned by institutional investors.

Tilray Brands Company Profile

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.