Tilray Brands (NASDAQ:TLRY) Trading Up 2.5% – Should You Buy?

Tilray Brands, Inc. (NASDAQ:TLRY)’s share price was up 2.5% during trading on Friday . The company traded as high as $1.25 and last traded at $1.24. Approximately 37,677,402 shares were traded during mid-day trading, a decline of 25% from the average daily volume of 50,067,039 shares. The stock had previously closed at $1.21.

Analysts Set New Price Targets

Several brokerages recently commented on TLRY. Wall Street Zen upgraded Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Saturday, October 11th. Jefferies Financial Group boosted their price target on shares of Tilray Brands from $1.50 to $2.00 and gave the stock a “buy” rating in a research report on Monday, August 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tilray Brands in a research note on Wednesday, October 8th. Zelman & Associates reiterated a “neutral” rating on shares of Tilray Brands in a research report on Tuesday, July 29th. Finally, Atb Cap Markets lowered shares of Tilray Brands from a “hold” rating to a “strong sell” rating in a report on Thursday, October 9th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $2.00.

Tilray Brands Stock Up 2.5%

The company has a current ratio of 2.62, a quick ratio of 1.56 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.39 billion, a price-to-earnings ratio of -0.55 and a beta of 2.04. The stock’s 50-day moving average is $1.40 and its 200-day moving average is $0.88.

Tilray Brands (NASDAQ:TLRY) last posted its quarterly earnings results on Thursday, October 9th. The company reported $0.00 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.03. Tilray Brands had a negative net margin of 258.54% and a negative return on equity of 6.79%. The firm had revenue of $209.50 million during the quarter, compared to the consensus estimate of $205.75 million. On average, analysts anticipate that Tilray Brands, Inc. will post -0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TLRY. Tidal Investments LLC grew its stake in Tilray Brands by 15.0% in the second quarter. Tidal Investments LLC now owns 28,971,835 shares of the company’s stock valued at $12,006,000 after acquiring an additional 3,776,410 shares during the period. Ausdal Financial Partners Inc. acquired a new stake in Tilray Brands in the 2nd quarter valued at $939,000. AQR Capital Management LLC increased its stake in Tilray Brands by 1,839.7% during the 1st quarter. AQR Capital Management LLC now owns 607,054 shares of the company’s stock valued at $399,000 after purchasing an additional 575,757 shares in the last quarter. SG Americas Securities LLC raised its holdings in Tilray Brands by 526.7% during the third quarter. SG Americas Securities LLC now owns 421,105 shares of the company’s stock worth $729,000 after buying an additional 353,911 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Tilray Brands in the second quarter valued at $112,000. Institutional investors own 9.35% of the company’s stock.

About Tilray Brands

Tilray, Inc engages in the research, cultivation, processing, and distribution of medical cannabis. The company offers its products in Argentina, Australia, Canada, Chile, Croatia, Cyprus, the Czech Republic, Germany, New Zealand, and South Africa. Tilray, Inc is headquartered in Canada.