Tilray Brands (NASDAQ:TLRY) Stock Rating Upgraded by Wall Street Zen

Tilray Brands (NASDAQ:TLRY) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Sunday.

Several other equities analysts also recently issued reports on the stock. Canaccord Genuity Group assumed coverage on shares of Tilray Brands in a report on Tuesday, January 27th. They set a “hold” rating for the company. ATB Cormark Capital Markets raised shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 10th. Zacks Research upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 11th. Roth Mkm decreased their price target on Tilray Brands from $20.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 20th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tilray Brands in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Tilray Brands currently has an average rating of “Hold” and an average target price of $13.33.

Tilray Brands Price Performance

Tilray Brands stock opened at $7.55 on Friday. The business has a 50 day simple moving average of $8.95 and a 200 day simple moving average of $11.12. 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 market capitalization of $879.65 million, a PE ratio of -0.34 and a beta of 2.02. Tilray Brands has a one year low of $3.51 and a one year high of $23.20.

Tilray Brands (NASDAQ:TLRY) last released its quarterly earnings data on Thursday, January 8th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.27). Tilray Brands had a negative return on equity of 6.35% and a negative net margin of 251.69%.The company had revenue of $217.51 million for the quarter, compared to analyst estimates of $211.15 million. During the same quarter in the prior year, the company earned ($0.03) earnings per share. On average, sell-side analysts forecast that Tilray Brands will post -0.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Tilray Brands

Hedge funds have recently modified their holdings of the business. Voloridge Investment Management LLC bought a new stake in Tilray Brands in the 4th quarter valued at $824,000. Polymer Capital Management US LLC acquired a new stake in shares of Tilray Brands in the 4th quarter valued at about $1,058,000. Engineers Gate Manager LP bought a new stake in shares of Tilray Brands in the fourth quarter valued at about $126,000. Schonfeld Strategic Advisors LLC boosted its position in shares of Tilray Brands by 4.5% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 144,358 shares of the company’s stock worth $1,304,000 after buying an additional 6,182 shares during the period. Finally, Jump Financial LLC bought a new position in shares of Tilray Brands during the fourth quarter worth about $155,000. Institutional investors and hedge funds 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.