Tilray Brands (NASDAQ:TLRY) Shares Up 9.1% – Still a Buy?

Tilray Brands, Inc. (NASDAQ:TLRY)’s share price shot up 9.1% on Thursday . The company traded as high as $4.82 and last traded at $4.8350. 1,138,776 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 4,236,987 shares. The stock had previously closed at $4.43.

Wall Street Analysts Forecast Growth

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

Tilray Brands Trading Up 6.7%

The stock has a market capitalization of $550.69 million, a P/E ratio of -0.35 and a beta of 1.89. The stock’s fifty day moving average price is $5.40 and its 200 day moving average price is $7.16. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.79 and a quick ratio of 1.66.

Tilray Brands (NASDAQ:TLRY) last announced its quarterly earnings data 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 business earned ($0.87) EPS. Research analysts forecast that Tilray Brands, Inc. will post -0.58 earnings per share for the current year.

Insider Activity at Tilray Brands

In other news, Director David G. Hopkinson sold 33,556 shares of the firm’s stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $6.94, for a total transaction of $232,878.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.84% of the company’s stock.

Institutional Trading of Tilray Brands

A number of large investors have recently modified their holdings of TLRY. Hilton Head Capital Partners LLC bought a new position in Tilray Brands in the fourth quarter worth approximately $38,000. Cerity Partners LLC increased its holdings in Tilray Brands by 98.5% during the 2nd quarter. Cerity Partners LLC now owns 92,560 shares of the company’s stock worth $38,000 after purchasing an additional 45,929 shares during the period. Marex Group plc bought a new stake in Tilray Brands during the 2nd quarter valued at $40,000. Hilton Capital Management LLC bought a new stake in Tilray Brands during the 2nd quarter valued at $41,000. Finally, Insigneo Advisory Services LLC purchased a new stake in shares of Tilray Brands in the 3rd quarter worth $46,000. Hedge funds and other institutional investors 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.