Tilray Brands (NASDAQ:TLRY) Trading Up 1.6% – What’s Next?

Shares of Tilray Brands, Inc. (NASDAQ:TLRY) were up 1.6% during mid-day trading on Monday . The stock traded as high as $7.79 and last traded at $7.70. Approximately 2,341,767 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 5,095,837 shares. The stock had previously closed at $7.58.

Wall Street Analyst Weigh In

TLRY has been the subject of a number of analyst reports. Zacks Research downgraded Tilray Brands from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 13th. ATB Capital raised shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 10th. Canaccord Genuity Group initiated coverage on shares of Tilray Brands in a research report on Tuesday, January 27th. They set a “hold” rating for the company. Roth Mkm decreased their price objective on shares of Tilray Brands from $20.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, January 20th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Tilray Brands in a research report on Wednesday, January 21st. One equities 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 stock. Based on data from MarketBeat.com, Tilray Brands has a consensus rating of “Reduce” and a consensus target price of $13.33.

Tilray Brands Price Performance

The firm has a market capitalization of $897.13 million, a PE ratio of -0.35 and a beta of 2.02. The stock’s 50 day simple moving average is $9.11 and its two-hundred day simple moving average is $11.03. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.72 and a current ratio of 2.81.

Tilray Brands (NASDAQ:TLRY) last issued 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). The company had revenue of $217.51 million during the quarter, compared to analyst estimates 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 last year, the business earned ($0.03) earnings per share. On average, sell-side analysts forecast that Tilray Brands, Inc. will post -0.2 EPS for the current year.

Institutional Investors Weigh In On Tilray Brands

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

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.