Tilray Brands (NASDAQ:TLRY) Trading 2% Higher – Still a Buy?

Shares of Tilray Brands, Inc. (NASDAQ:TLRY) were up 2% during mid-day trading on Thursday . The stock traded as high as $5.13 and last traded at $5.12. Approximately 2,731,629 shares changed hands during trading, a decline of 37% from the average daily volume of 4,358,974 shares. The stock had previously closed at $5.02.

More Tilray Brands News

Here are the key news stories impacting Tilray Brands this week:

• Positive Sentiment: Tilray is expanding its U.S. craft beer footprint into the U.K. through BrewDog, with 24 American craft beer SKUs now being sold across BrewDog bars and online. That gives Tilray more international distribution for brands like SweetWater, Montauk, 10 Barrel, Shock Top, Alpine, Green Flash, and Blue Point. Article Title
• Positive Sentiment: Tilray Medical Germany launched ARX™, a new premium medical cannabis brand cultivated in Germany, which could strengthen its position in Europe’s medical cannabis market and support growth with patients and healthcare providers. Article Title
• Positive Sentiment: Tilray also highlighted a debt-for-equity exchange, which can improve the balance sheet by reducing debt obligations, though it comes with some share issuance. Article Title

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TLRY. TD Cowen dropped their price target on shares of Tilray Brands from $10.00 to $7.00 and set a “buy” rating on the stock in a research note on Monday, March 30th. Roth Mkm upgraded shares of Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 price target on the stock in a research note on Thursday, April 2nd. ATB Cormark Capital Markets dropped their price target on shares of 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. Weiss Ratings cut shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 13th. Finally, Wall Street Zen upgraded shares of Tilray Brands from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. 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’s stock. According to MarketBeat, Tilray Brands presently has a consensus rating of “Hold” and an average price target of $11.50.

Tilray Brands Stock Up 2.0%

The stock’s fifty day moving average is $5.99 and its two-hundred day moving average is $7.56. 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 firm has a market cap of $596.73 million, a P/E ratio of -0.38 and a beta of 1.88.

Tilray Brands (NASDAQ:TLRY) last posted its earnings results 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 firm had revenue of $206.73 million for the quarter, compared to the consensus estimate of $201.35 million. Tilray Brands had a negative return on equity of 3.31% and a negative net margin of 156.51%.During the same period last year, the company posted ($0.87) EPS. As a group, research analysts anticipate that Tilray Brands, Inc. will post -0.58 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director David G. Hopkinson sold 33,556 shares of the company’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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.84% of the company’s stock.

Institutional Trading of Tilray Brands

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Essential Partners LLC increased its holdings in Tilray Brands by 110,137.5% during the 1st quarter. Essential Partners LLC now owns 8,819 shares of the company’s stock worth $57,000 after acquiring an additional 8,811 shares during the period. Entropy Technologies LP bought a new stake in Tilray Brands during the 1st quarter worth approximately $123,000. Baader Bank Aktiengesellschaft increased its holdings in Tilray Brands by 17.7% during the 1st quarter. Baader Bank Aktiengesellschaft now owns 47,938 shares of the company’s stock worth $293,000 after acquiring an additional 7,226 shares during the period. Dimensional Fund Advisors LP increased its holdings in Tilray Brands by 82.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 87,803 shares of the company’s stock worth $568,000 after acquiring an additional 39,801 shares during the period. Finally, Swiss National Bank increased its holdings in Tilray Brands by 4.1% during the 1st quarter. Swiss National Bank now owns 230,503 shares of the company’s stock worth $1,491,000 after acquiring an additional 9,100 shares during the period. 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.