Tilray Brands (NASDAQ:TLRY) Trading Up 1.8% – Time to Buy?

Tilray Brands, Inc. (NASDAQ:TLRY)’s stock price was up 1.8% on Thursday . The stock traded as high as $5.71 and last traded at $5.65. Approximately 4,280,655 shares were traded during mid-day trading, a decline of 3% from the average daily volume of 4,410,574 shares. The stock had previously closed at $5.55.

Wall Street Analyst Weigh In

Several analysts have weighed in on TLRY shares. ATB Cormark Capital Markets lowered their price target 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. Zacks Research raised Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 11th. Weiss Ratings cut Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 13th. Wall Street Zen raised Tilray Brands from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Finally, TD Cowen lowered their price target on Tilray Brands from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Monday, March 30th. 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 stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $11.50.

Tilray Brands Trading Down 2.5%

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 stock has a market cap of $642.18 million, a PE ratio of -0.40 and a beta of 1.94. The firm has a fifty day simple moving average of $6.20 and a two-hundred day simple moving average of $7.91.

Tilray Brands (NASDAQ:TLRY) last announced its quarterly earnings data on Wednesday, April 1st. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.10). The firm 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 last year, the company posted ($0.87) earnings per share. As a group, equities analysts expect that Tilray Brands, Inc. will post -0.58 earnings per share for the current fiscal year.

Insider Activity at Tilray Brands

In other news, Director David G. Hopkinson sold 33,556 shares of the stock in a transaction dated Tuesday, April 21st. The stock was 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.

Hedge Funds Weigh In On Tilray Brands

Institutional investors have recently modified their holdings of the company. Hilton Head Capital Partners LLC bought a new position in shares of Tilray Brands during the 4th quarter valued at about $38,000. Essential Partners LLC increased its position in shares of Tilray Brands by 110,137.5% during the 1st quarter. Essential Partners LLC now owns 8,819 shares of the company’s stock valued at $57,000 after purchasing an additional 8,811 shares during the last quarter. Engineers Gate Manager LP bought a new position in shares of Tilray Brands during the 4th quarter valued at about $126,000. Oppenheimer & Co. Inc. bought a new position in Tilray Brands during the 3rd quarter worth approximately $25,000. Finally, R Squared Ltd bought a new position in Tilray Brands during the 1st quarter worth approximately $94,000. 9.35% of the stock is currently owned by institutional investors.

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.