Tilray Brands (NASDAQ:TLRY) Trading Up 5.4% – Here’s What Happened

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

Wall Street Analysts Forecast Growth

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

Tilray Brands Stock Performance

The firm has a fifty day moving average of $9.97 and a 200-day moving average of $10.70. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of -0.45 and a beta of 1.77. The company has a quick ratio of 1.72, a current ratio of 2.81 and a debt-to-equity ratio of 0.19.

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

Institutional Trading of Tilray Brands

Institutional investors and hedge funds have recently modified their holdings of the business. Tudor Investment Corp ET AL purchased a new position in shares of Tilray Brands during the 3rd quarter worth approximately $518,000. Swiss Life Asset Management Ltd lifted its stake in Tilray Brands by 222.9% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 42,503 shares of the company’s stock valued at $74,000 after buying an additional 29,339 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in Tilray Brands by 99,204,800.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 992,049 shares of the company’s stock valued at $1,716,000 after buying an additional 992,048 shares during the last quarter. Sassicaia Capital Advisers LLC purchased a new position in Tilray Brands during the third quarter worth $401,000. Finally, Scientech Research LLC purchased a new position in Tilray Brands during the third quarter worth $1,748,000. 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.