Tilray Brands (NASDAQ:TLRY) Trading Up 1.8% – Time to Buy?

Tilray Brands, Inc. (NASDAQ:TLRY)’s stock price traded up 1.8% during mid-day trading on Monday . The company traded as high as $5.13 and last traded at $5.03. 3,820,631 shares changed hands during mid-day trading, a decline of 13% from the average session volume of 4,379,790 shares. The stock had previously closed at $4.94.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TLRY. Wall Street Zen raised shares of Tilray Brands from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. TD Cowen lowered their price objective on shares of Tilray Brands from $10.00 to $7.00 and set a “buy” rating for the company in a research report on Monday, March 30th. ATB Cormark Capital Markets reduced their target price on shares of Tilray Brands from $9.50 to $9.00 and set a “sector perform” rating on the stock in a report on Thursday, April 2nd. Weiss Ratings downgraded shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 13th. Finally, Zacks Research raised Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 11th. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $11.50.

Tilray Brands Stock Performance

The firm has a market capitalization of $586.24 million, a P/E ratio of -0.37 and a beta of 1.88. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.79 and a quick ratio of 1.66. The firm has a 50-day moving average price of $6.07 and a two-hundred day moving average price of $7.65.

Tilray Brands (NASDAQ:TLRY) last announced its quarterly earnings data on Wednesday, April 1st. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.10). Tilray Brands had a negative net margin of 156.51% and a negative return on equity of 3.31%. The company had revenue of $206.73 million for the quarter, compared to the consensus estimate of $201.35 million. During the same quarter in the previous year, the business earned ($0.87) EPS. On average, analysts forecast that Tilray Brands, Inc. will post -0.58 EPS for the current fiscal year.

Insider Transactions at Tilray Brands

In related news, Director David G. Hopkinson sold 33,556 shares of the business’s stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $6.94, for a total value of $232,878.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.84% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Tudor Investment Corp ET AL bought a new stake in Tilray Brands during the third quarter valued at about $518,000. Optiver Holding B.V. lifted its position in shares of Tilray Brands by 239.4% during the third quarter. Optiver Holding B.V. now owns 224,049 shares of the company’s stock valued at $388,000 after buying an additional 158,041 shares during the last quarter. Cresset Asset Management LLC boosted its holdings in shares of Tilray Brands by 72.1% in the 3rd quarter. Cresset Asset Management LLC now owns 501,989 shares of the company’s stock valued at $868,000 after buying an additional 210,267 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Tilray Brands by 99,204,800.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 992,049 shares of the company’s stock valued at $1,716,000 after buying an additional 992,048 shares in the last quarter. Finally, Zuckerman Investment Group LLC purchased a new position in shares of Tilray Brands in the 3rd quarter worth approximately $147,000. 9.35% of the stock is owned by 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.