Tilray Brands (NASDAQ:TLRY) Trading 1.8% Higher – What’s Next?

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TLRY. ATB Cormark Capital Markets reduced their target price on Tilray Brands from $9.50 to $9.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 2nd. Wall Street Zen upgraded shares of Tilray Brands from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Weiss Ratings cut shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 13th. Roth Mkm raised shares of Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Thursday, April 2nd. Finally, Zacks Research raised shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 11th. Three equities 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 company’s stock. According to MarketBeat.com, Tilray Brands presently has an average rating of “Hold” and a consensus target price of $11.50.

Tilray Brands Trading Up 1.8%

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 cap of $586.24 million, a price-to-earnings ratio of -0.37 and a beta of 1.88. The company’s fifty day moving average is $6.07 and its two-hundred day moving average is $7.65.

Tilray Brands (NASDAQ:TLRY) last released its quarterly earnings data on Wednesday, April 1st. The company reported ($0.24) EPS for the quarter, missing the consensus estimate 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 business had revenue of $206.73 million during the quarter, compared to analysts’ expectations of $201.35 million. During the same period last year, the company earned ($0.87) earnings per share. On average, research analysts anticipate that Tilray Brands, Inc. will post -0.58 EPS for the current year.

Insider Buying and Selling at Tilray Brands

In other news, Director David G. Hopkinson sold 33,556 shares of the business’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.84% of the company’s stock.

Institutional Investors Weigh In On Tilray Brands

Several hedge funds have recently bought and sold shares of the stock. Tidal Investments LLC increased its stake in shares of Tilray Brands by 15.0% in the 2nd quarter. Tidal Investments LLC now owns 28,971,835 shares of the company’s stock valued at $12,006,000 after purchasing an additional 3,776,410 shares in the last quarter. Millennium Management LLC grew its holdings in Tilray Brands by 281.0% in the third quarter. Millennium Management LLC now owns 4,942,319 shares of the company’s stock valued at $8,550,000 after purchasing an additional 3,645,060 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Tilray Brands during the 3rd quarter worth approximately $5,813,000. Ausdal Financial Partners Inc. purchased a new position in shares of Tilray Brands during the 2nd quarter valued at approximately $939,000. Finally, Scientech Research LLC acquired a new stake in Tilray Brands in the 3rd quarter valued at $1,748,000. Hedge funds and other institutional investors own 9.35% of the company’s stock.

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.