Tilray Brands (NASDAQ:TLRY) Trading Up 3.9% – What’s Next?

Tilray Brands, Inc. (NASDAQ:TLRY) shares rose 3.9% during trading on Monday . The company traded as high as $6.50 and last traded at $6.45. Approximately 2,568,546 shares traded hands during trading, a decline of 32% from the average daily volume of 3,753,818 shares. The stock had previously closed at $6.21.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TLRY. Zacks Research raised Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 11th. Roth Mkm reduced their price objective on Tilray Brands from $20.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, January 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Tilray Brands in a report on Wednesday, January 21st. 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 raised shares of Tilray Brands from a “sell” rating to a “hold” rating in a report on Saturday. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $13.33.

Tilray Brands Stock Up 3.9%

The business has a 50-day simple moving average of $7.83 and a two-hundred day simple moving average of $10.51. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.72 and a current ratio of 2.81. The company has a market capitalization of $751.49 million, a price-to-earnings ratio of -0.29 and a beta of 1.95.

Tilray Brands (NASDAQ:TLRY) last released its earnings results on Thursday, January 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.12. Tilray Brands had a negative return on equity of 6.35% and a negative net margin of 251.69%.The business had revenue of $217.51 million for the quarter, compared to analyst estimates of $211.15 million. During the same quarter in the previous year, the company posted ($0.03) earnings per share. As a group, equities analysts predict that Tilray Brands, Inc. will post -0.2 EPS for the current year.

Hedge Funds Weigh In On Tilray Brands

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