Tilray Brands (NASDAQ:TLRY) Trading 4.5% Higher – Should You Buy?

Shares of Tilray Brands, Inc. (NASDAQ:TLRY) shot up 4.5% during trading on Wednesday . The stock traded as high as $6.94 and last traded at $6.75. 3,075,052 shares traded hands during trading, a decline of 16% from the average session volume of 3,669,190 shares. The stock had previously closed at $6.46.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TLRY. ATB Cormark Capital Markets reduced their price objective on shares of 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. TD Cowen reduced their price objective on shares of Tilray Brands from $10.00 to $7.00 and set a “buy” rating for the company in a research report on Monday, March 30th. Roth Mkm raised shares of Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a research report on Thursday, April 2nd. Wall Street Zen raised shares of Tilray Brands from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Finally, Canaccord Genuity Group began coverage on shares of Tilray Brands in a research report on Tuesday, January 27th. They issued a “hold” rating for the company. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $11.20.

Tilray Brands Trading Up 4.5%

The company has a current ratio of 2.79, a quick ratio of 1.72 and a debt-to-equity ratio of 0.19. The firm’s 50-day moving average is $7.18 and its 200-day moving average is $10.08. The firm has a market cap of $786.42 million, a price-to-earnings ratio of -0.49 and a beta of 2.00.

Tilray Brands (NASDAQ:TLRY) last issued its quarterly earnings data on Wednesday, April 1st. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $206.73 million for the quarter, compared to the consensus estimate of $201.35 million. During the same quarter last year, the business posted ($0.87) earnings per share. As a group, sell-side analysts anticipate that Tilray Brands, Inc. will post -0.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Tilray Brands

Several large investors have recently bought and sold shares of the stock. Hilton Head Capital Partners LLC bought a new position in Tilray Brands during the 4th quarter valued at $38,000. Schonfeld Strategic Advisors LLC lifted its stake 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 acquiring an additional 6,182 shares in the last quarter. IFP Advisors Inc lifted its stake in Tilray Brands by 14.3% during the 4th quarter. IFP Advisors Inc now owns 60,318 shares of the company’s stock valued at $545,000 after acquiring an additional 7,541 shares in the last quarter. Integrated Wealth Concepts LLC lifted its stake in Tilray Brands by 33.8% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 36,977 shares of the company’s stock valued at $64,000 after acquiring an additional 9,341 shares in the last quarter. Finally, CreativeOne Wealth LLC lifted its stake in Tilray Brands by 12.2% during the 3rd quarter. CreativeOne Wealth LLC now owns 87,134 shares of the company’s stock valued at $151,000 after acquiring an additional 9,452 shares in the last quarter. 9.35% of the stock is currently owned by institutional investors.

About Tilray Brands

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.