Tilray Brands (NASDAQ:TLRY) Shares Up 3.3% – Time to Buy?

Tilray Brands, Inc. (NASDAQ:TLRY) rose 3.3% on Tuesday . The company traded as high as $6.72 and last traded at $6.66. Approximately 1,597,170 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 3,713,671 shares. The stock had previously closed at $6.45.

Analyst Ratings Changes

TLRY has been the topic of several research reports. Roth Mkm decreased their target price on Tilray Brands from $20.00 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tilray Brands in a research report on Wednesday, January 21st. Wall Street Zen upgraded shares of Tilray Brands from a “sell” rating to a “hold” rating in a research note on Saturday. ATB Cormark Capital Markets raised shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 10th. Finally, Canaccord Genuity Group initiated coverage on shares of Tilray Brands in a report on Tuesday, January 27th. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $13.33.

Tilray Brands Stock Performance

The firm has a market capitalization of $775.96 million, a price-to-earnings ratio of -0.30 and a beta of 1.95. The firm has a 50 day moving average price of $7.77 and a 200-day moving average price of $10.48. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.81 and a quick ratio of 1.72.

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

Institutional Trading of Tilray Brands

A number of large investors have recently made changes to their positions in TLRY. Silverlake Wealth Management LLC purchased a new position in Tilray Brands in the third quarter worth approximately $25,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Tilray Brands in the 3rd quarter valued at approximately $25,000. Unified Investment Management acquired a new stake in shares of Tilray Brands in the 3rd quarter valued at $26,000. J.W. Cole Advisors Inc. lifted its position 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 purchasing an additional 48,177 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Tilray Brands during the 3rd quarter worth $30,000. 9.35% of the stock is currently owned by hedge funds and other institutional investors.

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.