Tilray Brands (NASDAQ:TLRY) Shares Up 5.4% – Should You Buy?

Tilray Brands, Inc. (NASDAQ:TLRY) shares were up 5.4% during trading on Wednesday . The company traded as high as $10.04 and last traded at $9.90. Approximately 5,515,348 shares changed hands during trading, a decline of 29% from the average daily volume of 7,739,109 shares. The stock had previously closed at $9.39.

Analyst Ratings Changes

A number of research firms have issued reports on TLRY. Wall Street Zen upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Saturday, October 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Tilray Brands in a research report on Wednesday, October 8th. Finally, Atb Cap Markets upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 10th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $15.00.

Tilray Brands Stock Performance

The stock’s 50 day moving average price is $9.97 and its 200 day moving average price is $10.70. The company has a current ratio of 2.81, a quick ratio of 1.72 and a debt-to-equity ratio of 0.19. The company has a market cap of $1.11 billion, a price-to-earnings ratio of -0.45 and a beta of 1.77.

Tilray Brands (NASDAQ:TLRY) last posted its quarterly earnings results on Thursday, January 8th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.27). The company had revenue of $217.51 million for the quarter, compared to analysts’ expectations of $211.15 million. Tilray Brands had a negative return on equity of 6.35% and a negative net margin of 251.69%.During the same period in the prior year, the business earned ($0.03) EPS. On average, analysts expect that Tilray Brands, Inc. will post -0.2 EPS for the current fiscal year.

Institutional Trading of Tilray Brands

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