Tilray Brands (NASDAQ:TLRY) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Tilray Brands (NASDAQ:TLRY) from a sell rating to a hold rating in a research note published on Sunday morning.

Several other equities analysts have also recently weighed in on TLRY. Roth Mkm dropped their price target on shares of Tilray Brands from $20.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Tilray Brands in a research note on Wednesday, January 21st. Zacks Research upgraded Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 11th. Canaccord Genuity Group began coverage on Tilray Brands in a report on Tuesday, January 27th. They set a “hold” rating for the company. Finally, ATB Cormark Capital Markets raised Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 10th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Tilray Brands currently has a consensus rating of “Hold” and an average target price of $13.33.

Tilray Brands Stock Performance

NASDAQ TLRY opened at $7.92 on Friday. The company has a fifty day simple moving average of $8.83 and a 200 day simple moving average of $11.13. Tilray Brands has a 12-month low of $3.51 and a 12-month high of $23.20. The company has a current ratio of 2.81, a quick ratio of 1.72 and a debt-to-equity ratio of 0.19. The company has a market cap of $922.76 million, a P/E ratio of -0.36 and a beta of 2.02.

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

Hedge Funds Weigh In On Tilray Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Hilton Head Capital Partners LLC purchased a new stake in Tilray Brands during the fourth quarter worth about $38,000. Engineers Gate Manager LP purchased a new stake in shares of Tilray Brands during the 4th quarter worth approximately $126,000. Oppenheimer & Co. Inc. bought a new stake in shares of Tilray Brands in the 3rd quarter worth approximately $25,000. Silverlake Wealth Management LLC bought a new stake in shares of Tilray Brands in the 3rd quarter worth approximately $25,000. Finally, Unified Investment Management purchased a new position in Tilray Brands in the third quarter valued at approximately $26,000. 9.35% of the stock is owned by hedge funds and other institutional investors.

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.