Tilray Brands (NASDAQ:TLRY) Stock Price Up 4.1% – What’s Next?

Tilray Brands, Inc. (NASDAQ:TLRY)’s share price shot up 4.1% during mid-day trading on Thursday . The stock traded as high as $7.91 and last traded at $7.89. 2,275,698 shares were traded during mid-day trading, a decline of 50% from the average session volume of 4,573,245 shares. The stock had previously closed at $7.58.

Wall Street Analysts Forecast Growth

TLRY has been the topic of several research reports. ATB Cormark Capital Markets raised Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 10th. Roth Mkm reduced their price objective on shares of Tilray Brands from $20.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 20th. Canaccord Genuity Group started coverage on Tilray Brands in a report on Tuesday, January 27th. They issued a “hold” rating on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Tilray Brands in a research note on Wednesday, January 21st. Finally, Wall Street Zen downgraded shares of Tilray Brands from a “hold” rating to a “sell” rating in a research note on Saturday, February 14th. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Tilray Brands has a consensus rating of “Hold” and an average price target of $13.33.

Tilray Brands Stock Up 4.1%

The firm has a market capitalization of $919.26 million, a PE ratio of -0.36 and a beta of 2.02. The company has a quick ratio of 1.72, a current ratio of 2.81 and a debt-to-equity ratio of 0.19. The business has a 50-day moving average price of $9.11 and a 200-day moving average price of $11.06.

Tilray Brands (NASDAQ:TLRY) last announced its 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). Tilray Brands had a negative net margin of 251.69% and a negative return on equity of 6.35%. The firm had revenue of $217.51 million during the quarter, compared to analysts’ expectations of $211.15 million. During the same period in the previous year, the firm earned ($0.03) EPS. Equities research analysts forecast that Tilray Brands, Inc. will post -0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tilray Brands

Several large investors have recently modified their holdings of the company. Hilton Head Capital Partners LLC acquired a new position in shares of Tilray Brands in the fourth quarter valued at approximately $38,000. Engineers Gate Manager LP purchased a new position in shares of Tilray Brands in the fourth quarter valued at $126,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Tilray Brands in the third quarter valued at $25,000. Silverlake Wealth Management LLC acquired a new stake in Tilray Brands during the third quarter worth approximately $25,000. Finally, Unified Investment Management purchased a new position in shares of Tilray Brands during the 3rd quarter worth about $26,000. 9.35% of the stock is owned by institutional investors and hedge funds.

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.