Tilray Brands (NASDAQ:TLRY) Trading 1.8% Higher – What’s Next?

Tilray Brands, Inc. (NASDAQ:TLRY) shares traded up 1.8% during trading on Monday . The stock traded as high as $5.13 and last traded at $5.03. 3,820,631 shares changed hands during trading, a decline of 13% from the average session volume of 4,379,790 shares. The stock had previously closed at $4.94.

Key Tilray Brands News

Here are the key news stories impacting Tilray Brands this week:

• Positive Sentiment: Tilray Medical Germany launched ARX, a new premium medical cannabis brand cultivated in Germany, which could strengthen its position in Europe’s medical cannabis market and add a higher-value product line. Tilray Medical Germany Launches ARX™, a New Premium Medical Cannabis Brand Cultivated in Germany
• Positive Sentiment: Tilray is expanding its beverage footprint by bringing 24 U.S. craft beer brands to the U.K. through BrewDog bars and online sales, supporting growth outside the core cannabis business. Tilray brings US craft beer brands to UK through BrewDog
• Neutral Sentiment: Recent coverage also highlighted Tilray funding the Lyphe buyout and a debt reduction transaction with new shares, which may help the balance sheet but also raises dilution concerns for shareholders. Tilray Reduces Debt Through Private Debt-for-Equity Exchange

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on TLRY shares. Weiss Ratings downgraded Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 13th. Roth Mkm raised Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 target price for the company in a research report on Thursday, April 2nd. Wall Street Zen raised Tilray Brands from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. ATB Cormark Capital Markets decreased their target price on Tilray Brands from $9.50 to $9.00 and set a “sector perform” rating for the company in a research report on Thursday, April 2nd. Finally, TD Cowen decreased their target price on Tilray Brands from $10.00 to $7.00 and set a “buy” rating for the company in a research report on Monday, March 30th. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $11.50.

Tilray Brands Price Performance

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 business has a fifty day simple moving average of $6.01 and a 200 day simple moving average of $7.58. The stock has a market capitalization of $585.08 million, a P/E ratio of -0.37 and a beta of 1.88.

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

Insider Buying and Selling at Tilray Brands

In other news, Director David G. Hopkinson sold 33,556 shares of the business’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $6.94, for a total value of $232,878.64. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.84% of the stock is owned by insiders.

Hedge Funds Weigh In On Tilray Brands

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

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.