Tilray Brands (NASDAQ:TLRY) Stock Jumps 3.9% – Should You Buy?

Tilray Brands, Inc. (NASDAQ:TLRY)’s share price traded up 3.9% during trading on Tuesday. The company traded as high as $2.74 and last traded at $2.65. Approximately 5,017,895 shares traded hands during trading, an increase of 19% from the average daily volume of 4,232,078 shares. The stock had previously closed at $2.55.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on TLRY shares. Zacks Research lowered shares of Tilray Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 29th. Weiss Ratings lowered shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, October 23rd. Wall Street Zen lowered Tilray Brands from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. TD Cowen reduced their price target on shares of Tilray Brands from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, July 14th. Finally, TD decreased their price target on shares of Tilray Brands from $4.70 to $4.50 and set a “buy” rating on the stock in a research note on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $5.90.

Tilray Brands Trading Down 5.1%

The company has a fifty day moving average price of $3.63 and a 200 day moving average price of $5.37. The company has a quick ratio of 1.11, a current ratio of 1.88 and a debt-to-equity ratio of 0.17.

Tilray Brands (NASDAQ:TLRY) last issued its earnings results on Thursday, October 8th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.16. Tilray Brands had a negative return on equity of 10.39% and a negative net margin of 16.91%. The company had revenue of $257.15 million during the quarter, compared to analysts’ expectations of $266.26 million. On average, analysts predict that Tilray Brands, Inc. will post -0.52 earnings per share for the current year.

Institutional Trading of Tilray Brands

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in shares of Tilray Brands during the second quarter worth about $2,073,000. Swiss National Bank grew its stake in shares of 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Tilray Brands by 6.1% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 208,229 shares of the company’s stock worth $935,000 after purchasing an additional 11,894 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Tilray Brands by 82.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 87,803 shares of the company’s stock valued at $568,000 after purchasing an additional 39,801 shares during the period. Finally, Legal & General Group Plc purchased a new position in Tilray Brands during the 2nd quarter valued at about $381,000. Hedge funds and other institutional investors own 9.35% of the company’s stock.

Tilray Brands Company Profile

Tilray Brands, Inc is a global consumer packaged goods company operating across the cannabis, beverage alcohol, wellness and distribution sectors. Its cannabis business includes adult-use and medical cannabis products such as dried flower, pre-rolls, vapes, concentrates, edibles and beverages, marketed under brands including Good Supply, RIFF and Broken Coast.

The company also owns and operates beverage alcohol businesses, including SweetWater Brewing Company, Montauk Brewing Company, Alpine Beer Company, Green Flash Brewing Co and Blue Point Brewing Company.