Tilray Brands (NASDAQ:TLRY) Trading Up 5.6% – Here’s What Happened

Shares of Tilray Brands, Inc. (NASDAQ:TLRY) were up 5.6% during trading on Monday . The company traded as high as $1.33 and last traded at $1.31. Approximately 41,357,654 shares traded hands during mid-day trading, a decline of 17% from the average daily volume of 50,028,289 shares. The stock had previously closed at $1.24.

Wall Street Analyst Weigh In

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

Tilray Brands Stock Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 2.62 and a quick ratio of 1.56. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of -0.58 and a beta of 2.04. The company has a fifty day moving average price of $1.39 and a two-hundred day moving average price of $0.89.

Tilray Brands (NASDAQ:TLRY) last issued its 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 firm had revenue of $209.50 million during the quarter, compared to analysts’ expectations of $205.75 million. Tilray Brands had a negative net margin of 258.54% and a negative return on equity of 6.79%. As a group, equities research analysts expect that Tilray Brands, Inc. will post -0.2 EPS for the current year.

Hedge Funds Weigh In On Tilray Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC acquired a new stake in shares of Tilray Brands in the first quarter worth $50,000. Cerity Partners LLC acquired a new stake in shares of Tilray Brands during the first quarter worth approximately $31,000. SBI Securities Co. Ltd. grew its position in Tilray Brands by 17.3% during the first quarter. SBI Securities Co. Ltd. now owns 276,332 shares of the company’s stock valued at $182,000 after purchasing an additional 40,679 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its stake in Tilray Brands by 1,646.1% in the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 154,636 shares of the company’s stock valued at $102,000 after buying an additional 145,780 shares during the period. Finally, MCF Advisors LLC acquired a new stake in shares of Tilray Brands during the 1st quarter valued at $132,000. 9.35% of the stock is currently owned by hedge funds and other 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.