Tilray Brands (NASDAQ:TLRY) Stock Price Up 3% – Here’s Why

Tilray Brands, Inc. (NASDAQ:TLRY)’s share price rose 3% on Tuesday . The company traded as high as $5.53 and last traded at $5.45. Approximately 2,932,747 shares traded hands during trading, a decline of 34% from the average daily volume of 4,422,706 shares. The stock had previously closed at $5.29.

Analysts Set New Price Targets

TLRY has been the topic of a number of recent research reports. Roth Mkm upgraded shares of Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Thursday, April 2nd. Wall Street Zen upgraded shares of Tilray Brands from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Zacks Research upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 11th. TD Cowen cut their price target on shares of Tilray Brands from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Monday, March 30th. Finally, Weiss Ratings downgraded shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 13th. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned 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 $11.50.

Tilray Brands Stock Up 3.0%

The stock has a market cap of $635.20 million, a P/E ratio of -0.40 and a beta of 1.94. The company has a current ratio of 2.79, a quick ratio of 1.66 and a debt-to-equity ratio of 0.19. The firm’s fifty day moving average is $6.31 and its 200 day moving average is $8.07.

Tilray Brands (NASDAQ:TLRY) last announced its earnings results on Wednesday, April 1st. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.10). The firm had revenue of $206.73 million during the quarter, compared to the consensus estimate 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 last year, the business earned ($0.87) EPS. As a group, equities research analysts forecast that Tilray Brands, Inc. will post -0.58 EPS for the current year.

Insider Buying and Selling

In related news, Director David G. Hopkinson sold 33,556 shares of Tilray Brands stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $6.94, for a total value of $232,878.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.84% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Essential Partners LLC raised its holdings in Tilray Brands by 110,137.5% in the 1st quarter. Essential Partners LLC now owns 8,819 shares of the company’s stock worth $57,000 after acquiring an additional 8,811 shares during the period. Entropy Technologies LP acquired a new stake in Tilray Brands in the 1st quarter worth $123,000. Baader Bank Aktiengesellschaft grew its position in Tilray Brands by 17.7% in the 1st quarter. Baader Bank Aktiengesellschaft now owns 47,938 shares of the company’s stock worth $293,000 after purchasing an additional 7,226 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Tilray Brands by 82.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 87,803 shares of the company’s stock worth $568,000 after purchasing an additional 39,801 shares during the last quarter. Finally, Swiss National Bank grew its position in Tilray Brands by 4.1% in the 1st 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. Institutional investors own 9.35% of the company’s stock.

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.