Tilray Brands (NASDAQ:TLRY) Stock Price Up 4.1% – Time to Buy?

Tilray Brands, Inc. (NASDAQ:TLRY)’s stock price shot up 4.1% during mid-day trading on Thursday . The company traded as high as $7.91 and last traded at $7.89. 2,275,698 shares traded hands during trading, a decline of 50% from the average session volume of 4,573,245 shares. The stock had previously closed at $7.58.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Wall Street Zen lowered Tilray Brands from a “hold” rating to a “sell” rating in a research note on Saturday, February 14th. ATB Cormark Capital Markets raised Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 10th. Zacks Research raised Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 11th. Canaccord Genuity Group started coverage on shares of Tilray Brands in a research report on Tuesday, January 27th. They issued a “hold” rating for the company. Finally, Roth Mkm decreased their price target on shares of Tilray Brands from $20.00 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 20th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Tilray Brands currently has a consensus rating of “Hold” and an average target price of $13.33.

Tilray Brands Stock Performance

The stock has a market cap of $919.26 million, a P/E ratio of -0.36 and a beta of 2.02. The company has a current ratio of 2.81, a quick ratio of 1.72 and a debt-to-equity ratio of 0.19. The stock has a 50 day simple moving average of $9.11 and a 200 day simple moving average of $11.06.

Tilray Brands (NASDAQ:TLRY) last released its earnings results 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 period last year, the company posted ($0.03) earnings per share. On average, equities analysts expect that Tilray Brands, Inc. will post -0.2 earnings per share for the current year.

Institutional Trading of Tilray Brands

A number of institutional investors and hedge funds have recently bought and sold shares of TLRY. Stratos Wealth Partners LTD. boosted its holdings in Tilray Brands by 704.5% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 81,272 shares of the company’s stock worth $34,000 after buying an additional 71,170 shares during the period. Quinn Opportunity Partners LLC raised its holdings in shares of Tilray Brands by 11.6% during the 2nd quarter. Quinn Opportunity Partners LLC now owns 1,918,080 shares of the company’s stock valued at $795,000 after buying an additional 200,000 shares in the last quarter. SLT Holdings LLC purchased a new stake in shares of Tilray Brands during the third quarter worth about $178,000. Capital Advisors Inc. OK purchased a new position in shares of Tilray Brands during the 3rd quarter worth approximately $260,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of Tilray Brands in the 3rd quarter worth approximately $36,000. 9.35% of the stock is currently owned by institutional investors and hedge funds.

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.