Tilray Brands (NASDAQ:TLRY) Trading Up 1.4% – Should You Buy?

Tilray Brands, Inc. (NASDAQ:TLRY) rose 1.4% during trading on Wednesday . The company traded as high as $4.44 and last traded at $4.37. 3,963,360 shares were traded during trading, a decline of 7% from the average session volume of 4,274,436 shares. The stock had previously closed at $4.31.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. ATB Cormark Capital Markets dropped their target price on shares of Tilray Brands from $9.50 to $9.00 and set a “sector perform” rating for the company in a research report on Thursday, April 2nd. Roth Capital raised shares of Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Thursday, April 2nd. Wall Street Zen upgraded Tilray Brands from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Weiss Ratings downgraded Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 13th. Finally, TD Cowen cut their price objective on Tilray Brands from $10.00 to $7.00 and set a “buy” rating on the stock in a research note on Monday, March 30th. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Tilray Brands presently has a consensus rating of “Hold” and a consensus price target of $11.50.

Tilray Brands Price Performance

The stock has a market capitalization of $509.32 million, a P/E ratio of -0.32 and a beta of 1.89. The company has a 50 day moving average of $5.19 and a 200-day moving average of $6.94. The company has a quick ratio of 1.66, a current ratio of 2.79 and a debt-to-equity ratio of 0.19.

Insider Activity

In other news, Director David G. Hopkinson sold 33,556 shares of Tilray Brands stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $6.94, for a total value of $232,878.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.84% of the company’s stock.

Institutional Investors Weigh In On Tilray Brands

Institutional investors and hedge funds have recently bought and sold shares of the business. Hilton Head Capital Partners LLC acquired a new position in Tilray Brands in the fourth quarter valued at approximately $38,000. Essential Partners LLC raised its position in shares of Tilray Brands by 110,137.5% during the 1st quarter. Essential Partners LLC now owns 8,819 shares of the company’s stock worth $57,000 after purchasing an additional 8,811 shares during the period. Engineers Gate Manager LP bought a new stake in shares of Tilray Brands in the 4th quarter worth approximately $126,000. R Squared Ltd acquired a new position in Tilray Brands during the 1st quarter valued at approximately $94,000. Finally, Apollon Wealth Management LLC acquired a new position in Tilray Brands during the 1st quarter valued at approximately $96,000. 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.