Tilray Brands (NASDAQ:TLRY) Stock Price Up 1.2% – Time to Buy?

Tilray Brands, Inc. (NASDAQ:TLRY) shares were up 1.2% during mid-day trading on Wednesday . The stock traded as high as $5.90 and last traded at $5.76. Approximately 4,337,557 shares traded hands during mid-day trading, a decline of 6% from the average daily volume of 4,604,018 shares. The stock had previously closed at $5.69.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on TLRY shares. ATB Cormark Capital Markets reduced their price target on Tilray Brands from $9.50 to $9.00 and set a “sector perform” rating for the company in a research note on Thursday, April 2nd. Wall Street Zen upgraded Tilray Brands from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. TD Cowen reduced their price target on Tilray Brands from $10.00 to $7.00 and set a “buy” rating for the company in a research note on Monday, March 30th. Weiss Ratings upgraded Tilray Brands from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, April 29th. Finally, Zacks Research upgraded Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 11th. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $11.50.

Tilray Brands Stock Up 1.2%

The business has a 50-day moving average price of $6.84 and a two-hundred day moving average price of $8.87. The company has a current ratio of 2.79, a quick ratio of 1.66 and a debt-to-equity ratio of 0.19.

Tilray Brands (NASDAQ:TLRY) last released its earnings results 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 company had revenue of $206.73 million for the quarter, compared to the consensus estimate 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 company posted ($0.87) earnings per share. On average, research analysts expect that Tilray Brands, Inc. will post -0.58 earnings per share for the current year.

Insider Buying and Selling at Tilray Brands

In other news, Director David G. Hopkinson sold 33,556 shares of the company’s stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $6.94, for a total transaction of $232,878.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.84% of the company’s stock.

Institutional Trading of Tilray Brands

A number of institutional investors have recently modified their holdings of TLRY. Tidal Investments LLC raised its holdings in shares of Tilray Brands by 15.0% during the 2nd quarter. Tidal Investments LLC now owns 28,971,835 shares of the company’s stock worth $12,006,000 after buying an additional 3,776,410 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Tilray Brands by 281.0% during the 3rd quarter. Millennium Management LLC now owns 4,942,319 shares of the company’s stock worth $8,550,000 after buying an additional 3,645,060 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Tilray Brands during the 3rd quarter worth $5,813,000. Ausdal Financial Partners Inc. acquired a new position in shares of Tilray Brands during the 2nd quarter worth $939,000. Finally, Swiss National Bank raised its holdings in shares of Tilray Brands by 4.4% during the 3rd quarter. Swiss National Bank now owns 2,013,038 shares of the company’s stock worth $3,483,000 after buying an additional 84,900 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.