Tilray Brands (NASDAQ:TLRY) Trading 1.4% Higher – Still a Buy?

Shares of Tilray Brands, Inc. (NASDAQ:TLRY) were up 1.4% on Wednesday . The company traded as high as $4.44 and last traded at $4.37. Approximately 3,963,360 shares traded hands during trading, a decline of 7% from the average session volume of 4,274,436 shares. The stock had previously closed at $4.31.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Wall Street Zen raised Tilray Brands from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Weiss Ratings cut shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 13th. Roth Capital upgraded shares of Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 price target for the company in a report on Thursday, April 2nd. ATB Cormark Capital Markets reduced their price objective on shares of 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. Finally, TD Cowen decreased their price objective on shares of Tilray Brands from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Monday, March 30th. Three research 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 stock has a consensus rating of “Hold” and a consensus target price of $11.50.

Tilray Brands Price Performance

The company has a market cap of $515.15 million, a price-to-earnings ratio of -0.32 and a beta of 1.89. The company has a fifty day simple moving average of $5.10 and a two-hundred day simple moving average of $6.83. The company has a quick ratio of 1.66, a current ratio of 2.79 and a debt-to-equity ratio of 0.19.

Insider Activity at Tilray Brands

In related news, Director David G. Hopkinson sold 33,556 shares of the stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $6.94, for a total value of $232,878.64. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.84% of the stock is owned by corporate insiders.

Institutional Trading of Tilray Brands

Several institutional investors and hedge funds have recently modified their holdings of TLRY. Hilton Head Capital Partners LLC purchased a new position in shares of Tilray Brands during the 4th quarter worth approximately $38,000. Cerity Partners LLC lifted its stake in Tilray Brands by 98.5% in the 2nd quarter. Cerity Partners LLC now owns 92,560 shares of the company’s stock valued at $38,000 after buying an additional 45,929 shares in the last quarter. Marex Group plc purchased a new stake in Tilray Brands in the 2nd quarter valued at approximately $40,000. Hilton Capital Management LLC acquired a new stake in Tilray Brands during the 2nd quarter valued at $41,000. Finally, Essential Partners LLC increased its position in Tilray Brands by 110,137.5% during the first quarter. Essential Partners LLC now owns 8,819 shares of the company’s stock worth $57,000 after buying an additional 8,811 shares in the last quarter. Hedge funds and other institutional investors own 9.35% of the company’s stock.

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.