Tilray Brands (NASDAQ:TLRY) Trading 4.9% Higher – Here’s Why

Tilray Brands, Inc. (NASDAQ:TLRY)’s share price was up 4.9% during mid-day trading on Tuesday . The stock traded as high as $7.97 and last traded at $7.92. Approximately 2,217,949 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 4,402,332 shares. The stock had previously closed at $7.55.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Roth Mkm reduced their price target on Tilray Brands from $20.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday, January 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Tilray Brands in a research note on Wednesday, January 21st. Canaccord Genuity Group began coverage on shares of Tilray Brands in a research report on Tuesday, January 27th. They set a “hold” rating for the company. ATB Cormark Capital Markets upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 10th. Finally, Wall Street Zen upgraded shares of Tilray Brands from a “sell” rating to a “hold” rating in a research report on Sunday. One equities research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Tilray Brands has a consensus rating of “Hold” and an average price target of $13.33.

Tilray Brands Stock Up 2.0%

The stock has a 50-day simple moving average of $8.64 and a 200-day simple moving average of $11.09. The company has a quick ratio of 1.72, a current ratio of 2.81 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $930.91 million, a PE ratio of -0.36 and a beta of 2.02.

Tilray Brands (NASDAQ:TLRY) last posted its earnings results on Thursday, January 8th. The company reported ($0.41) earnings per share 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 company had revenue of $217.51 million for the quarter, compared to analysts’ expectations of $211.15 million. During the same period in the previous year, the firm earned ($0.03) EPS. Analysts forecast that Tilray Brands, Inc. will post -0.2 EPS for the current year.

Institutional Trading of Tilray Brands

Hedge funds have recently modified their holdings of the business. Silverlake Wealth Management LLC bought a new position in shares of Tilray Brands in the third quarter worth approximately $25,000. Oppenheimer & Co. Inc. purchased a new position in Tilray Brands in the 3rd quarter worth approximately $25,000. Unified Investment Management purchased a new position in Tilray Brands in the 3rd quarter worth approximately $26,000. J.W. Cole Advisors Inc. lifted its position in Tilray Brands by 203.2% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 71,890 shares of the company’s stock valued at $30,000 after acquiring an additional 48,177 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Tilray Brands during the 3rd quarter valued at $30,000. Institutional investors own 9.35% of the company’s stock.

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.