Tilray Brands (NASDAQ:TLRY) Shares Up 2% – What’s Next?

Shares of Tilray Brands, Inc. (NASDAQ:TLRY) shot up 2% on Thursday . The stock traded as high as $5.13 and last traded at $5.12. 2,731,629 shares were traded during mid-day trading, a decline of 37% from the average session volume of 4,358,974 shares. The stock had previously closed at $5.02.

Analyst Ratings Changes

Several equities analysts have recently commented on TLRY shares. ATB Cormark Capital Markets lowered 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 downgraded shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 13th. Wall Street Zen raised shares of Tilray Brands from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. TD Cowen lowered 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. Finally, 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. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $11.50.

Tilray Brands Price Performance

The firm’s fifty day moving average price is $5.94 and its 200 day moving average price is $7.51. The company has a quick ratio of 1.66, a current ratio of 2.79 and a debt-to-equity ratio of 0.19. The stock has a market cap of $580.42 million, a PE ratio of -0.36 and a beta of 1.88.

Tilray Brands (NASDAQ:TLRY) last released its earnings results on Wednesday, April 1st. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.10). Tilray Brands had a negative return on equity of 3.31% and a negative net margin of 156.51%.The company had revenue of $206.73 million during the quarter, compared to analysts’ expectations of $201.35 million. During the same period last year, the firm posted ($0.87) EPS. As a group, equities analysts expect that Tilray Brands, Inc. will post -0.58 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director David G. Hopkinson sold 33,556 shares of the business’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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.84% of the company’s stock.

Institutional Investors Weigh In On Tilray Brands

Several large investors have recently bought and sold shares of the business. Essential Partners LLC increased its position in Tilray Brands by 110,137.5% in the first quarter. Essential Partners LLC now owns 8,819 shares of the company’s stock worth $57,000 after purchasing an additional 8,811 shares during the last quarter. Entropy Technologies LP bought a new stake in Tilray Brands in the first quarter worth $123,000. Baader Bank Aktiengesellschaft increased its position in Tilray Brands by 17.7% in the first quarter. Baader Bank Aktiengesellschaft now owns 47,938 shares of the company’s stock worth $293,000 after purchasing an additional 7,226 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Tilray Brands by 82.9% in the first quarter. Dimensional Fund Advisors LP now owns 87,803 shares of the company’s stock worth $568,000 after purchasing an additional 39,801 shares during the last quarter. Finally, Swiss National Bank increased its position in Tilray Brands by 4.1% in the first quarter. Swiss National Bank now owns 230,503 shares of the company’s stock worth $1,491,000 after purchasing an additional 9,100 shares during the last quarter. Institutional investors own 9.35% of the company’s stock.

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.