Tilray Brands (NASDAQ:TLRY) Shares Up 1.3% – Still a Buy?

Tilray Brands, Inc. (NASDAQ:TLRY) shares rose 1.3% during mid-day trading on Monday . The stock traded as high as $9.95 and last traded at $9.30. Approximately 8,914,775 shares traded hands during trading, an increase of 6% from the average daily volume of 8,439,074 shares. The stock had previously closed at $9.18.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on TLRY shares. Atb Cap Markets raised Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tilray Brands in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Saturday, October 11th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Tilray Brands has an average rating of “Hold” and a consensus target price of $20.00.

Tilray Brands Trading Up 1.3%

The business has a 50 day moving average of $10.03 and a two-hundred day moving average of $10.67. 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 firm has a market cap of $1.04 billion, a P/E ratio of -0.42 and a beta of 1.77.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Tidal Investments LLC lifted its position in Tilray Brands by 15.0% during the second quarter. Tidal Investments LLC now owns 28,971,835 shares of the company’s stock worth $12,006,000 after acquiring an additional 3,776,410 shares during the last quarter. Millennium Management LLC grew its position in shares of 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. bought a new position in shares of Tilray Brands during the third quarter worth approximately $5,813,000. Ausdal Financial Partners Inc. acquired a new stake in Tilray Brands during the 2nd quarter worth approximately $939,000. Finally, Swiss National Bank lifted its holdings in Tilray Brands by 4.4% during 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. 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.