Tilray Brands (NASDAQ:TLRY) Trading Up 2.8% – Here’s Why

Tilray Brands, Inc. (NASDAQ:TLRY)’s stock price was up 2.8% during trading on Tuesday . The stock traded as high as $5.46 and last traded at $5.17. Approximately 4,906,853 shares traded hands during trading, an increase of 12% from the average daily volume of 4,384,852 shares. The stock had previously closed at $5.03.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on TLRY shares. ATB Cormark Capital Markets decreased their price target on Tilray Brands from $9.50 to $9.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 2nd. TD Cowen decreased their price target 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. Zacks Research raised Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 11th. Roth Mkm upgraded Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a research report on Thursday, April 2nd. Finally, Wall Street Zen upgraded Tilray Brands from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Three 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, the company presently has a consensus rating of “Hold” and a consensus target price of $11.50.

Tilray Brands Price Performance

The company has a fifty day simple moving average of $6.04 and a two-hundred day simple moving average of $7.61. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.66 and a current ratio of 2.79. The company has a market capitalization of $602.56 million, a price-to-earnings ratio of -0.38 and a beta of 1.88.

Tilray Brands (NASDAQ:TLRY) last issued its quarterly earnings results on Wednesday, April 1st. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.10). The business had revenue of $206.73 million during the quarter, compared to analyst estimates of $201.35 million. Tilray Brands had a negative net margin of 156.51% and a negative return on equity of 3.31%. During the same quarter last year, the firm posted ($0.87) earnings per share. As a group, research analysts anticipate that Tilray Brands, Inc. will post -0.58 earnings per share for the current year.

Insiders Place Their Bets

In other Tilray Brands news, Director David G. Hopkinson sold 33,556 shares of the business’s stock in a transaction on Tuesday, April 21st. The stock was 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 available through the SEC website. Company insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Hilton Head Capital Partners LLC acquired a new position in Tilray Brands in the 4th quarter valued at $38,000. Pictet Asset Management Holding SA raised its holdings in Tilray Brands by 38.9% in the 1st quarter. Pictet Asset Management Holding SA now owns 18,387 shares of the company’s stock valued at $119,000 after acquiring an additional 5,145 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its stake in shares of Tilray Brands by 4.5% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 144,358 shares of the company’s stock valued at $1,304,000 after buying an additional 6,182 shares during the period. Baader Bank Aktiengesellschaft grew its stake in shares of Tilray Brands by 17.7% during the 1st quarter. Baader Bank Aktiengesellschaft now owns 47,938 shares of the company’s stock valued at $293,000 after buying an additional 7,226 shares during the period. Finally, IFP Advisors Inc grew its stake in shares of Tilray Brands by 14.3% during the 4th quarter. IFP Advisors Inc now owns 60,318 shares of the company’s stock valued at $545,000 after buying an additional 7,541 shares during the period. 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.