Tilray Brands (NASDAQ:TLRY) Stock Price Up 1.3% – Should You Buy?

Tilray Brands, Inc. (NASDAQ:TLRY)’s share price rose 1.3% on Friday . The stock traded as high as $1.57 and last traded at $1.56. Approximately 67,570,656 shares were traded during mid-day trading, an increase of 36% from the average daily volume of 49,735,516 shares. The stock had previously closed at $1.54.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tilray Brands in a research note on Wednesday, October 8th. Atb Cap Markets cut shares of Tilray Brands from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 9th. Jefferies Financial Group boosted their price objective on shares of Tilray Brands from $1.50 to $2.00 and gave the stock a “buy” rating in a research note on Monday, August 25th. Zelman & Associates restated a “neutral” rating on shares of Tilray Brands in a research note on Tuesday, July 29th. Finally, Wall Street Zen upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Saturday, October 11th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $2.00.

Tilray Brands Trading Up 1.3%

The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.56 and a current ratio of 2.62. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of -0.69 and a beta of 1.98. The business’s 50-day simple moving average is $1.34 and its 200-day simple moving average is $0.79.

Tilray Brands (NASDAQ:TLRY) last announced its quarterly earnings results on Thursday, October 9th. The company reported $0.00 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.03. The company had revenue of $209.50 million during the quarter, compared to analysts’ expectations of $205.75 million. Tilray Brands had a negative return on equity of 6.79% and a negative net margin of 258.54%. On average, research analysts expect that Tilray Brands, Inc. will post -0.2 earnings per share for the current fiscal year.

Insider Activity at Tilray Brands

In related news, CEO Irwin D. Simon purchased 165,000 shares of the stock in a transaction dated Wednesday, July 30th. The stock was bought at an average cost of $0.61 per share, with a total value of $100,650.00. Following the purchase, the chief executive officer directly owned 3,941,633 shares in the company, valued at $2,404,396.13. The trade was a 4.37% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.84% of the stock is currently owned by company insiders.

Institutional Trading of Tilray Brands

A number of large investors have recently bought and sold shares of the business. J.W. Cole Advisors Inc. grew its stake in shares of Tilray Brands by 203.2% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 71,890 shares of the company’s stock worth $30,000 after acquiring an additional 48,177 shares in the last quarter. Cerity Partners LLC bought a new position in shares of Tilray Brands during the 1st quarter worth approximately $31,000. Capital Management Associates Inc grew its stake in shares of Tilray Brands by 100.0% during the 1st quarter. Capital Management Associates Inc now owns 50,760 shares of the company’s stock worth $33,000 after acquiring an additional 25,380 shares in the last quarter. Fifth Lane Capital LP boosted its holdings in shares of Tilray Brands by 400.0% in the 1st quarter. Fifth Lane Capital LP now owns 50,000 shares of the company’s stock valued at $33,000 after buying an additional 40,000 shares during the last quarter. Finally, Zuckerman Investment Group LLC acquired a new stake in shares of Tilray Brands in the 1st quarter valued at approximately $33,000. 9.35% of the stock is owned by institutional investors.

Tilray Brands Company Profile

Tilray, Inc engages in the research, cultivation, processing, and distribution of medical cannabis. The company offers its products in Argentina, Australia, Canada, Chile, Croatia, Cyprus, the Czech Republic, Germany, New Zealand, and South Africa. Tilray, Inc is headquartered in Canada.