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

Shares of Tilray Brands, Inc. (NASDAQ:TLRY) were up 2.5% on Friday . The company traded as high as $1.25 and last traded at $1.24. Approximately 37,677,402 shares traded hands 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.

Analyst Upgrades and Downgrades

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

Tilray Brands Price Performance

The stock has a market cap of $1.39 billion, a P/E ratio of -0.55 and a beta of 2.04. The business has a 50 day simple moving average of $1.40 and a 200-day simple moving average of $0.88. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.56 and a current ratio of 2.62.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TLRY. Tidal Investments LLC increased its stake in shares of Tilray Brands by 15.0% during the 2nd quarter. Tidal Investments LLC now owns 28,971,835 shares of the company’s stock worth $12,006,000 after purchasing an additional 3,776,410 shares during the last quarter. Ausdal Financial Partners Inc. bought a new position in Tilray Brands during the second quarter valued at $939,000. Swiss National Bank increased its position in Tilray Brands by 6.1% in the second quarter. Swiss National Bank now owns 1,928,138 shares of the company’s stock worth $799,000 after buying an additional 111,500 shares during the last quarter. Quinn Opportunity Partners LLC raised its stake in shares of Tilray Brands by 11.6% in the second 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 during the period. Finally, TD Asset Management Inc lifted its position in shares of Tilray Brands by 6.5% during the 1st quarter. TD Asset Management Inc now owns 1,627,247 shares of the company’s stock valued at $1,063,000 after buying an additional 100,017 shares during the last quarter. 9.35% of the stock is owned by institutional investors.

Tilray Brands Company Profile

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.