Tilray Brands (NASDAQ:TLRY) Trading Up 4.3% – Here’s Why

Shares of Tilray Brands, Inc. (NASDAQ:TLRY) traded up 4.3% on Thursday . The stock traded as high as $4.85 and last traded at $4.62. Approximately 5,549,395 shares were traded during mid-day trading, an increase of 30% from the average daily volume of 4,278,809 shares. The stock had previously closed at $4.43.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Roth Mkm upgraded shares of Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 price objective on the stock in a research report on Thursday, April 2nd. Weiss Ratings cut shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 13th. TD Cowen dropped their price objective on shares of Tilray Brands from $10.00 to $7.00 and set a “buy” rating for the company in a report on Monday, March 30th. ATB Cormark Capital Markets cut their price objective on Tilray Brands from $9.50 to $9.00 and set a “sector perform” rating for the company in a research report on Thursday, April 2nd. Finally, Wall Street Zen raised Tilray Brands from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Tilray Brands presently has an average rating of “Hold” and an average target price of $11.50.

Tilray Brands Stock Performance

The business’s fifty day moving average price is $5.40 and its two-hundred day moving average price is $7.16. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.66 and a current ratio of 2.79. The stock has a market capitalization of $538.46 million, a P/E ratio of -0.34 and a beta of 1.89.

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

Insider Transactions at Tilray Brands

In other Tilray Brands news, Director David G. Hopkinson sold 33,556 shares of the company’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $6.94, for a total transaction of $232,878.64. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.84% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tilray Brands

Several large investors have recently modified their holdings of the stock. Hilton Head Capital Partners LLC purchased a new stake in Tilray Brands during the 4th quarter valued at $38,000. Essential Partners LLC increased its position in Tilray Brands by 110,137.5% during the first quarter. Essential Partners LLC now owns 8,819 shares of the company’s stock valued at $57,000 after acquiring an additional 8,811 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in shares of Tilray Brands in the fourth quarter valued at $126,000. R Squared Ltd purchased a new stake in shares of Tilray Brands in the first quarter valued at $94,000. Finally, Apollon Wealth Management LLC bought a new stake in shares of Tilray Brands in the 1st quarter worth about $96,000. Institutional investors own 9.35% of the company’s stock.

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.