Tilray Brands (NASDAQ:TLRY) Stock Price Up 2.8% – What’s Next?

Tilray Brands, Inc. (NASDAQ:TLRY) shares rose 2.8% on Tuesday . The company traded as high as $5.46 and last traded at $5.17. Approximately 4,906,853 shares changed 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.

Key Headlines Impacting Tilray Brands

Here are the key news stories impacting Tilray Brands this week:

• Positive Sentiment: Tilray’s BrewDog unit is promoting 24 U.S. craft beer brands across the U.K., expanding the reach of Tilray’s beverage portfolio and potentially creating a new sales channel. Article Title
• Positive Sentiment: Tilray Medical Germany launched ARX™, a premium medical cannabis brand cultivated in Germany, which could strengthen its position in Europe’s medical cannabis market. Article Title
• Positive Sentiment: Investor sentiment may also be supported by cannabis-sector optimism, with reports noting Schedule III hopes and a June 29 hearing on broader marijuana rescheduling. Article Title

Analyst Upgrades and Downgrades

TLRY has been the topic of a number of research reports. 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 report on Thursday, April 2nd. Zacks Research raised shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 11th. ATB Cormark Capital Markets reduced their target price on shares of Tilray Brands from $9.50 to $9.00 and set a “sector perform” rating on the stock in a report on Thursday, April 2nd. Weiss Ratings lowered shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 13th. Finally, TD Cowen reduced their target price on shares of Tilray Brands from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Monday, March 30th. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Tilray Brands presently has an average rating of “Hold” and a consensus price target of $11.50.

Tilray Brands Stock Performance

The stock’s 50 day moving average price is $5.99 and its 200 day moving average price is $7.56. 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 $596.73 million, a P/E ratio of -0.38 and a beta of 1.88.

Tilray Brands (NASDAQ:TLRY) last posted its quarterly earnings data on Wednesday, April 1st. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $206.73 million during the quarter, compared to the consensus estimate of $201.35 million. During the same period in the prior year, the company posted ($0.87) earnings per share. As a group, equities analysts expect that Tilray Brands, Inc. will post -0.58 EPS for the current year.

Insider Activity at Tilray Brands

In other news, Director David G. Hopkinson sold 33,556 shares of the company’s stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $6.94, for a total value of $232,878.64. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. bought a new position in Tilray Brands during the third quarter worth $25,000. Clearstead Advisors LLC boosted its stake in Tilray Brands by 437.3% during the third quarter. Clearstead Advisors LLC now owns 21,625 shares of the company’s stock worth $37,000 after acquiring an additional 17,600 shares in the last quarter. Hilton Head Capital Partners LLC bought a new position in Tilray Brands during the fourth quarter worth $38,000. Cerity Partners LLC boosted its stake in Tilray Brands by 98.5% during the second quarter. Cerity Partners LLC now owns 92,560 shares of the company’s stock worth $38,000 after acquiring an additional 45,929 shares in the last quarter. Finally, Marex Group plc bought a new position in Tilray Brands during the second quarter worth $40,000. 9.35% of the stock is owned by institutional investors.

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.