Tilray Brands (NASDAQ:TLRY) Stock Price Up 5.3% – Still a Buy?

Tilray Brands, Inc. (NASDAQ:TLRY)’s share price shot up 5.3% on Thursday . The stock traded as high as $9.31 and last traded at $9.13. 3,561,359 shares traded hands during trading, a decline of 45% from the average session volume of 6,494,798 shares. The stock had previously closed at $8.67.

Wall Street Analyst Weigh In

Several equities research analysts have commented on TLRY shares. Weiss Ratings restated a “sell (d-)” rating on shares of Tilray Brands in a research note on Wednesday, October 8th. Wall Street Zen upgraded Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Saturday, October 11th. Roth Mkm dropped their price objective on Tilray Brands from $20.00 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday. Zacks Research cut shares of Tilray Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. Finally, Atb Cap Markets upgraded Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 10th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $13.33.

Tilray Brands Trading Up 5.3%

The company has a 50-day simple moving average of $9.57 and a 200-day simple moving average of $10.85. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.72 and a current ratio of 2.81. The stock has a market cap of $1.06 billion, a P/E ratio of -0.41 and a beta of 1.77.

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

Hedge Funds Weigh In On Tilray Brands

Several large investors have recently bought and sold shares of TLRY. AQR Capital Management LLC boosted its position in shares of Tilray Brands by 1,839.7% in the 1st quarter. AQR Capital Management LLC now owns 607,054 shares of the company’s stock worth $399,000 after purchasing an additional 575,757 shares during the last quarter. Vontobel Holding Ltd. increased its holdings in Tilray Brands by 12.7% during the 2nd quarter. Vontobel Holding Ltd. now owns 272,662 shares of the company’s stock worth $113,000 after purchasing an additional 30,818 shares in the last quarter. Blair William & Co. IL lifted its stake in Tilray Brands by 55.9% in the 2nd quarter. Blair William & Co. IL now owns 239,743 shares of the company’s stock valued at $99,000 after acquiring an additional 86,010 shares in the last quarter. Stratos Wealth Partners LTD. boosted its stake in shares of Tilray Brands by 704.5% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 81,272 shares of the company’s stock worth $34,000 after buying an additional 71,170 shares during the last quarter. Finally, Tradewinds Capital Management LLC raised its stake in shares of Tilray Brands by 177.0% during the 2nd quarter. Tradewinds Capital Management LLC now owns 203,461 shares of the company’s stock worth $84,000 after purchasing an additional 130,001 shares in the last quarter. 9.35% of the stock is currently owned by institutional investors and hedge funds.

About Tilray Brands

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.