Tilray Brands (NASDAQ:TLRY) Stock Price Up 1.7% – Time to Buy?

Tilray Brands, Inc. (NASDAQ:TLRY) shares rose 1.7% on Monday . The company traded as high as $6.95 and last traded at $6.66. Approximately 3,539,302 shares traded hands during trading, a decline of 4% from the average daily volume of 3,698,114 shares. The stock had previously closed at $6.55.

Analyst Ratings Changes

A number of brokerages have commented on TLRY. Wall Street Zen upgraded shares of Tilray Brands from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tilray Brands in a research note on Wednesday, January 21st. TD Cowen lowered their price target on Tilray Brands from $10.00 to $7.00 and set a “buy” rating for the company in a report on Monday, March 30th. Roth Mkm raised Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 price objective on the stock in a research note on Thursday. Finally, Zacks Research upgraded Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 11th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Tilray Brands presently has a consensus rating of “Hold” and an average target price of $11.20.

Tilray Brands Trading Up 1.7%

The company has a quick ratio of 1.72, a current ratio of 2.79 and a debt-to-equity ratio of 0.19. The stock’s 50 day moving average is $7.27 and its two-hundred day moving average is $10.16. The company has a market capitalization of $775.96 million, a PE ratio of -0.49 and a beta of 2.00.

Tilray Brands (NASDAQ:TLRY) last posted its 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). Tilray Brands had a negative net margin of 156.51% and a negative return on equity of 3.31%. The business had revenue of $206.73 million for the quarter, compared to analysts’ expectations of $201.35 million. During the same period last year, the business posted ($0.87) EPS. As a group, sell-side analysts predict that Tilray Brands, Inc. will post -0.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Tilray Brands

A number of large investors have recently bought and sold shares of the business. Hilton Head Capital Partners LLC bought a new position in Tilray Brands in the fourth quarter worth approximately $38,000. Engineers Gate Manager LP purchased a new position in shares of Tilray Brands in the 4th quarter valued at $126,000. Oppenheimer & Co. Inc. purchased a new position in shares of Tilray Brands in the 3rd quarter valued at $25,000. Silverlake Wealth Management LLC bought a new position in shares of Tilray Brands in the 3rd quarter worth $25,000. Finally, Unified Investment Management bought a new position in shares of Tilray Brands in the 3rd quarter worth $26,000. 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.