Tilray Brands (NASDAQ:TLRY) Trading Up 4.3% – Should You Buy?

Tilray Brands, Inc. (NASDAQ:TLRY) traded up 4.3% during trading on Thursday . The stock traded as high as $4.85 and last traded at $4.62. Approximately 5,549,395 shares traded hands during mid-day trading, an increase of 30% from the average daily volume of 4,278,809 shares. The stock had previously closed at $4.43.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on TLRY shares. ATB Cormark Capital Markets cut their target price on shares of Tilray Brands from $9.50 to $9.00 and set a “sector perform” rating on the stock in a research note 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. TD Cowen dropped their price target on shares of Tilray Brands from $10.00 to $7.00 and set a “buy” rating for the company in a research note 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 report on Thursday, April 2nd. Finally, Weiss Ratings cut Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 13th. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $11.50.

Tilray Brands Price Performance

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 company has a market cap of $538.46 million, a price-to-earnings ratio of -0.34 and a beta of 1.89. The firm’s fifty day simple moving average is $5.29 and its 200 day simple moving average is $7.09.

Tilray Brands (NASDAQ:TLRY) last announced its quarterly earnings data on Wednesday, April 1st. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.10). The firm had revenue of $206.73 million during the quarter, compared to analyst estimates of $201.35 million. Tilray Brands had a negative net margin of 156.51% and a negative return on equity of 3.31%. During the same quarter in the previous year, the business posted ($0.87) earnings per share. Sell-side analysts predict that Tilray Brands, Inc. will post -0.58 earnings per share for the current year.

Insiders Place Their Bets

In other Tilray Brands news, Director David G. Hopkinson sold 33,556 shares of the firm’s stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $6.94, for a total value of $232,878.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.84% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TLRY. Hilton Head Capital Partners LLC purchased a new stake in Tilray Brands during the fourth quarter worth approximately $38,000. Pictet Asset Management Holding SA increased its stake in Tilray Brands by 38.9% in the first quarter. Pictet Asset Management Holding SA now owns 18,387 shares of the company’s stock valued at $119,000 after purchasing an additional 5,145 shares during the last quarter. Schonfeld Strategic Advisors LLC increased its stake in Tilray Brands by 4.5% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 144,358 shares of the company’s stock valued at $1,304,000 after purchasing an additional 6,182 shares during the last quarter. Baader Bank Aktiengesellschaft raised its holdings in Tilray Brands by 17.7% during the first quarter. Baader Bank Aktiengesellschaft now owns 47,938 shares of the company’s stock worth $293,000 after purchasing an additional 7,226 shares in the last quarter. Finally, IFP Advisors Inc raised its holdings 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 purchasing an additional 7,541 shares in the last quarter. Hedge funds and other 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.