Tilray Brands (NASDAQ:TLRY) Trading Up 4.3% – What’s Next?

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on TLRY shares. Roth Mkm upgraded shares of Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Thursday, April 2nd. ATB Cormark Capital Markets decreased 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. TD Cowen dropped their price objective on Tilray Brands from $10.00 to $7.00 and set a “buy” rating on the stock in a research report on Monday, March 30th. Weiss Ratings lowered Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 13th. Finally, Wall Street Zen upgraded shares of Tilray Brands from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $11.50.

Tilray Brands Stock Performance

The company has a market cap of $538.46 million, a P/E ratio of -0.34 and a beta of 1.89. The company has a quick ratio of 1.66, a current ratio of 2.79 and a debt-to-equity ratio of 0.19. The business has a fifty day simple moving average of $5.40 and a two-hundred day simple moving average of $7.16.

Tilray Brands (NASDAQ:TLRY) last released its quarterly earnings results on Wednesday, April 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.10). The firm 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 prior year, the firm earned ($0.87) earnings per share. On average, sell-side analysts anticipate that Tilray Brands, Inc. will post -0.58 EPS for the current year.

Insider Activity

In related news, Director David G. Hopkinson sold 33,556 shares of the stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $6.94, for a total value of $232,878.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.84% of the company’s stock.

Institutional Trading of Tilray Brands

Institutional investors and hedge funds have recently modified their holdings of the company. Hilton Head Capital Partners LLC purchased a new stake in Tilray Brands in the 4th quarter worth $38,000. Essential Partners LLC boosted its stake in shares of Tilray Brands by 110,137.5% in the first 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. Engineers Gate Manager LP bought a new position in shares of Tilray Brands in the fourth quarter worth about $126,000. R Squared Ltd purchased a new stake in shares of Tilray Brands during the first quarter worth about $94,000. Finally, Apollon Wealth Management LLC purchased a new stake in shares of Tilray Brands during the first quarter worth about $96,000. 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.