Tilray Brands (NASDAQ:TLRY) Trading 7.5% Higher – Should You Buy?

Tilray Brands, Inc. (NASDAQ:TLRY) shares were up 7.5% during trading on Friday . The company traded as high as $7.65 and last traded at $7.58. Approximately 3,051,564 shares changed hands during trading, a decline of 41% from the average daily volume of 5,206,597 shares. The stock had previously closed at $7.05.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TLRY. Roth Mkm reduced their price objective on Tilray Brands from $20.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, January 20th. Wall Street Zen upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Saturday, October 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Tilray Brands in a report on Wednesday, January 21st. ATB Capital raised shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 10th. Finally, Zacks Research downgraded shares of Tilray Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Tilray Brands has an average rating of “Reduce” and an average target price of $13.33.

Tilray Brands Price Performance

The business has a fifty day moving average of $9.11 and a 200-day moving average of $11.00. The company has a current ratio of 2.81, a quick ratio of 1.72 and a debt-to-equity ratio of 0.19. The firm has a market cap of $883.15 million, a PE ratio of -0.34 and a beta of 2.02.

Tilray Brands (NASDAQ:TLRY) last announced its quarterly earnings results on Thursday, January 8th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.27). The firm had revenue of $217.51 million during the quarter, compared to analysts’ expectations of $211.15 million. Tilray Brands had a negative return on equity of 6.35% and a negative net margin of 251.69%.During the same period in the previous year, the company posted ($0.03) earnings per share. As a group, research analysts predict that Tilray Brands, Inc. will post -0.2 earnings per share for the current year.

Hedge Funds Weigh In On Tilray Brands

A number of institutional investors have recently added to or reduced their stakes in the business. Silverlake Wealth Management LLC purchased a new position in shares of Tilray Brands during the third quarter worth about $25,000. Oppenheimer & Co. Inc. purchased a new position in Tilray Brands in the 3rd quarter worth approximately $25,000. Unified Investment Management purchased a new position in Tilray Brands in the 3rd quarter worth approximately $26,000. J.W. Cole Advisors Inc. increased its holdings in shares of Tilray Brands by 203.2% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 71,890 shares of the company’s stock worth $30,000 after buying an additional 48,177 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Tilray Brands during the 3rd quarter valued at $30,000. 9.35% of the stock is currently 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.