Tilray Brands (NASDAQ:TLRY) Trading Up 4% – Here’s What Happened

Tilray Brands, Inc. (NASDAQ:TLRY)’s share price shot up 4% during trading on Friday . The stock traded as high as $4.66 and last traded at $4.64. Approximately 3,148,211 shares were traded during trading, a decline of 26% from the average daily volume of 4,280,151 shares. The stock had previously closed at $4.46.

Tilray Brands News Roundup

Here are the key news stories impacting Tilray Brands this week:

• Positive Sentiment: Tilray Medical said it is expanding access to medical cannabis for veterans through its Lyphe Clinic at Aldershot’s Armed Forces Weekend in the UK, supporting its regulated medical cannabis strategy and reinforcing the benefits of its Lyphe Group acquisition. Article Title
• Positive Sentiment: Breckenridge Distillery, a Tilray subsidiary, won top honors at the San Francisco World Spirits Competition, with Rum Cask Finish earning the highest award and Honey Whiskey taking gold, which may support Tilray’s premium beverage portfolio and brand strength. Article Title
• Positive Sentiment: Tilray-linked craft beer brands BrewDog and Montauk Brewing are continuing community and product launches, including BrewDog Inverurie’s reopening and Montauk’s anniversary celebration and limited beer release, which may help maintain consumer engagement across Tilray’s beverage segment. Article Title
• Neutral Sentiment: A recent market recap noted Tilray’s shares fell more than the broader market in the prior session, reflecting ongoing investor caution around the stock. Article Title
• Negative Sentiment: Investor sentiment may also be weighed by the broader report that Tilray has seen fresh short-interest activity, which can signal continued skepticism about the stock’s near-term outlook.

Analyst Ratings Changes

TLRY has been the topic of a number of research analyst reports. Weiss Ratings lowered shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 13th. Roth Mkm upgraded shares of Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 target price for the company in a research note on Thursday, April 2nd. ATB Cormark Capital Markets decreased their price objective on Tilray Brands from $9.50 to $9.00 and set a “sector perform” rating on the stock in a report on Thursday, April 2nd. TD Cowen lowered their price target 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. Finally, Wall Street Zen raised shares of Tilray Brands from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $11.50.

Tilray Brands Trading Up 4.0%

The stock has a market cap of $540.79 million, a P/E ratio of -0.34 and a beta of 1.88. The company has a current ratio of 2.79, a quick ratio of 1.66 and a debt-to-equity ratio of 0.19. The business’s fifty day simple moving average is $5.55 and its 200 day simple moving average is $7.24.

Tilray Brands (NASDAQ:TLRY) last released its quarterly earnings results on Wednesday, April 1st. The company reported ($0.24) EPS for the quarter, missing the consensus estimate 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 period last year, the company earned ($0.87) earnings per share. As a group, analysts expect that Tilray Brands, Inc. will post -0.58 EPS for the current year.

Insider Transactions at Tilray Brands

In other news, Director David G. Hopkinson sold 33,556 shares of the firm’s 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 document filed with the SEC, which is available at the SEC website. Insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TLRY. Tidal Investments LLC increased its holdings in Tilray Brands by 15.0% in the second quarter. Tidal Investments LLC now owns 28,971,835 shares of the company’s stock valued at $12,006,000 after purchasing an additional 3,776,410 shares during the last quarter. Millennium Management LLC raised its stake in 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Tilray Brands in the third quarter valued at about $5,813,000. Ausdal Financial Partners Inc. bought a new position in shares of Tilray Brands during the 2nd quarter valued at about $939,000. Finally, Scientech Research LLC bought a new stake in Tilray Brands during the 3rd quarter worth approximately $1,748,000. Institutional investors and hedge funds 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.