Tilray Brands (NASDAQ:TLRY) Stock Price Up 2.2% Following Analyst Upgrade

Tilray Brands, Inc. (NASDAQ:TLRY) shares rose 2.2% during mid-day trading on Monday after TD Securities upgraded the stock to a strong-buy rating. The stock traded as high as $4.94 and last traded at $4.64. Approximately 5,941,671 shares changed hands during mid-day trading, an increase of 37% from the average session volume of 4,324,794 shares. The stock had previously closed at $4.54.

Several other analysts have also weighed in on the stock. ATB Cormark Capital Markets lowered their price objective on shares of Tilray Brands from $9.50 to $9.00 and set a “sector perform” rating for the company in a research note on Thursday, April 2nd. TD Cowen cut their target price on shares of Tilray Brands from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, July 14th. Roth Capital upgraded shares of Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 price target for the company in a report on Thursday, April 2nd. Wall Street Zen cut shares of Tilray Brands from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Weiss Ratings downgraded shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $11.00.

Institutional Investors Weigh In On Tilray Brands

Several hedge funds and other institutional investors have recently modified their holdings of TLRY. Hilton Head Capital Partners LLC bought a new position in shares of Tilray Brands in the 4th quarter worth $38,000. Pictet Asset Management Holding SA grew its position in Tilray Brands by 38.9% in the 1st quarter. Pictet Asset Management Holding SA now owns 18,387 shares of the company’s stock valued at $119,000 after purchasing an additional 5,145 shares during the period. Schonfeld Strategic Advisors LLC increased its stake in Tilray Brands by 4.5% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 144,358 shares of the company’s stock valued at $1,304,000 after purchasing an additional 6,182 shares in the last quarter. Baader Bank Aktiengesellschaft increased its stake in Tilray Brands by 17.7% during the 1st quarter. Baader Bank Aktiengesellschaft now owns 47,938 shares of the company’s stock valued at $293,000 after purchasing an additional 7,226 shares in the last quarter. Finally, IFP Advisors Inc raised its holdings in Tilray Brands by 14.3% during the fourth quarter. IFP Advisors Inc now owns 60,318 shares of the company’s stock worth $545,000 after buying an additional 7,541 shares during the last quarter. Institutional investors own 9.35% of the company’s stock.

Tilray Brands Stock Performance

The stock has a market cap of $540.79 million, a price-to-earnings ratio of -4.30 and a beta of 1.90. The company’s fifty day simple moving average is $4.67 and its two-hundred day simple moving average is $6.24. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.21 and a quick ratio of 1.37.

Tilray Brands (NASDAQ:TLRY) last issued its quarterly earnings data on Tuesday, July 28th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.42). The business had revenue of $281.71 million for the quarter, compared to analyst estimates of $246.30 million. Tilray Brands had a negative net margin of 13.11% and a negative return on equity of 7.76%. On average, analysts forecast that Tilray Brands, Inc. will post -0.34 earnings per share for the current year.

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.