Tilray Brands (NASDAQ:TLRY) Stock Price Up 3.9% – Should You Buy?

Tilray Brands, Inc. (NASDAQ:TLRY)’s share price shot up 3.9% on Monday . The company traded as high as $6.50 and last traded at $6.45. 2,568,546 shares traded hands during mid-day trading, a decline of 32% from the average session volume of 3,753,818 shares. The stock had previously closed at $6.21.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on TLRY shares. Roth Mkm cut their price objective on Tilray Brands from $20.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday, January 20th. Wall Street Zen upgraded shares of Tilray Brands from a “sell” rating to a “hold” rating in a research report on Saturday. Zacks Research upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 11th. ATB Cormark Capital Markets upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 10th. Finally, Canaccord Genuity Group initiated coverage on shares of Tilray Brands in a report on Tuesday, January 27th. They set a “hold” rating on the stock. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $13.33.

Tilray Brands Stock Performance

The stock has a 50-day simple moving average of $7.83 and a 200 day simple moving average of $10.51. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.81 and a quick ratio of 1.72. The company has a market capitalization of $751.49 million, a PE ratio of -0.29 and a beta of 1.95.

Tilray Brands (NASDAQ:TLRY) last announced its quarterly earnings results on Thursday, January 8th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.12. The business had revenue of $217.51 million during the quarter, compared to analysts’ expectations of $211.15 million. Tilray Brands had a negative return on equity of 6.35% and a negative net margin of 251.69%.During the same quarter last year, the business posted ($0.03) earnings per share. Equities analysts anticipate that Tilray Brands, Inc. will post -0.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Tilray Brands

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Optiver Holding B.V. raised its position in shares of Tilray Brands by 239.4% during the 3rd quarter. Optiver Holding B.V. now owns 224,049 shares of the company’s stock worth $388,000 after purchasing an additional 158,041 shares during the last quarter. Cresset Asset Management LLC grew its holdings in Tilray Brands by 72.1% during the 3rd quarter. Cresset Asset Management LLC now owns 501,989 shares of the company’s stock valued at $868,000 after buying an additional 210,267 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in Tilray Brands by 99,204,800.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 992,049 shares of the company’s stock valued at $1,716,000 after buying an additional 992,048 shares during the last quarter. Zuckerman Investment Group LLC purchased a new position in Tilray Brands during the third quarter worth $147,000. Finally, SG Americas Securities LLC raised its holdings in shares of Tilray Brands by 526.7% in the third quarter. SG Americas Securities LLC now owns 421,105 shares of the company’s stock worth $729,000 after acquiring an additional 353,911 shares during the last quarter. Institutional investors and hedge funds 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.