Tilray Brands (NASDAQ:TLRY) Stock Price Up 7.5% – Time to Buy?

Tilray Brands, Inc. (NASDAQ:TLRY) shares rose 7.5% during trading on Friday . The company traded as high as $7.65 and last traded at $7.58. Approximately 3,051,564 shares were traded during trading, a decline of 41% from the average daily volume of 5,206,597 shares. The stock had previously closed at $7.05.

Analyst Ratings Changes

TLRY has been the topic of several recent research reports. Roth Mkm reduced their price target on Tilray Brands from $20.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 20th. ATB Capital upgraded Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 10th. Wall Street Zen upgraded Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Saturday, October 11th. Canaccord Genuity Group initiated coverage on shares of Tilray Brands in a research report on Tuesday, January 27th. They issued a “hold” rating on the stock. Finally, Zacks Research lowered shares of Tilray Brands from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 13th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $13.33.

Tilray Brands Stock Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 2.81 and a quick ratio of 1.72. The company has a market cap of $883.15 million, a price-to-earnings ratio of -0.34 and a beta of 2.02. The stock has a 50-day moving average price of $9.13 and a 200 day moving average price of $10.97.

Tilray Brands (NASDAQ:TLRY) last issued its quarterly earnings data on Thursday, January 8th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.27). The business had revenue of $217.51 million during the quarter, compared to analyst estimates of $211.15 million. Tilray Brands had a negative net margin of 251.69% and a negative return on equity of 6.35%. During the same quarter in the prior year, the firm posted ($0.03) earnings per share. As a group, analysts anticipate that Tilray Brands, Inc. will post -0.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Tilray Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. IFP Advisors Inc boosted its stake in Tilray Brands by 14.3% in the 4th quarter. IFP Advisors Inc now owns 60,318 shares of the company’s stock worth $545,000 after purchasing an additional 7,541 shares during the period. State of New Jersey Common Pension Fund D bought a new stake in shares of Tilray Brands in the fourth quarter valued at about $346,000. Westend Capital Management LLC acquired a new position in shares of Tilray Brands during the fourth quarter worth about $736,000. Tudor Investment Corp ET AL acquired a new position in shares of Tilray Brands during the third quarter worth about $518,000. Finally, Swiss Life Asset Management Ltd grew its holdings in shares of Tilray Brands by 222.9% during the third quarter. Swiss Life Asset Management Ltd now owns 42,503 shares of the company’s stock worth $74,000 after buying an additional 29,339 shares in 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.