Tilray Brands (NASDAQ:TLRY) Trading Up 2.3% – Should You Buy?

Tilray Brands, Inc. (NASDAQ:TLRY) shares were up 2.3% during trading on Monday . The stock traded as high as $6.78 and last traded at $6.72. Approximately 2,839,193 shares were traded during mid-day trading, a decline of 21% from the average daily volume of 3,613,000 shares. The stock had previously closed at $6.57.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TLRY. TD Cowen dropped their price objective on Tilray Brands from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Monday, March 30th. Canaccord Genuity Group began coverage on shares of Tilray Brands in a research report on Tuesday, January 27th. They set a “hold” rating on the stock. Zacks Research raised shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 11th. ATB Cormark Capital Markets cut their price target on shares of Tilray Brands from $9.50 to $9.00 and set a “sector perform” rating for the company in a report on Thursday, April 2nd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Tilray Brands in a research note on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $11.50.

Tilray Brands Trading Up 2.8%

The firm has a market cap of $805.36 million, a PE ratio of -0.51 and a beta of 2.00. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.79 and a quick ratio of 1.66. The business has a 50-day moving average price of $7.10 and a two-hundred day moving average price of $9.89.

Tilray Brands (NASDAQ:TLRY) last released its quarterly earnings data on Wednesday, April 1st. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.10). The business had revenue of $206.73 million during the quarter, compared to analysts’ expectations of $201.35 million. Tilray Brands had a negative return on equity of 3.31% and a negative net margin of 156.51%.During the same quarter in the prior year, the firm earned ($0.87) earnings per share. Analysts forecast that Tilray Brands, Inc. will post -0.2 EPS for the current year.

Institutional Trading of Tilray Brands

Several large investors have recently modified their holdings of TLRY. Hilton Head Capital Partners LLC acquired a new position in shares of Tilray Brands during the 4th quarter worth approximately $38,000. Schonfeld Strategic Advisors LLC grew its holdings in Tilray Brands by 4.5% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 144,358 shares of the company’s stock valued at $1,304,000 after buying an additional 6,182 shares during the last quarter. IFP Advisors Inc increased its position in Tilray Brands by 14.3% during the fourth quarter. IFP Advisors Inc now owns 60,318 shares of the company’s stock worth $545,000 after buying an additional 7,541 shares in the last quarter. Integrated Wealth Concepts LLC raised its holdings in shares of Tilray Brands by 33.8% in the third quarter. Integrated Wealth Concepts LLC now owns 36,977 shares of the company’s stock worth $64,000 after acquiring an additional 9,341 shares during the last quarter. Finally, CreativeOne Wealth LLC raised its holdings in shares of Tilray Brands by 12.2% in the third quarter. CreativeOne Wealth LLC now owns 87,134 shares of the company’s stock worth $151,000 after acquiring an additional 9,452 shares during the last quarter. 9.35% of the stock is currently owned by institutional investors and hedge funds.

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.