Tilray Brands (NASDAQ:TLRY) Stock Price Up 5.3% – Should You Buy?

Tilray Brands, Inc. (NASDAQ:TLRY) traded up 5.3% during mid-day trading on Thursday . The company traded as high as $9.31 and last traded at $9.13. 3,561,359 shares changed hands during trading, a decline of 45% from the average session volume of 6,494,798 shares. The stock had previously closed at $8.67.

Analyst Ratings Changes

TLRY has been the topic of a number of analyst reports. Roth Mkm decreased their target price on shares of Tilray Brands from $20.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday. Zacks Research cut shares of Tilray Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. Wall Street Zen upgraded Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Saturday, October 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Tilray Brands in a research report on Wednesday, October 8th. Finally, Atb Cap Markets raised Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 10th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $13.33.

Tilray Brands Stock Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 2.81 and a quick ratio of 1.72. The stock has a market capitalization of $1.06 billion, a P/E ratio of -0.41 and a beta of 1.77. The company has a 50 day simple moving average of $9.57 and a 200-day simple moving average of $10.85.

Tilray Brands (NASDAQ:TLRY) last posted its earnings results on Thursday, January 8th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.27). The company had revenue of $217.51 million for the quarter, compared to analysts’ expectations of $211.15 million. Tilray Brands had a negative return on equity of 6.35% and a negative net margin of 251.69%.During the same quarter in the prior year, the company earned ($0.03) EPS. On average, equities analysts forecast that Tilray Brands, Inc. will post -0.2 EPS for the current year.

Institutional Trading of Tilray Brands

A number of hedge funds have recently bought and sold shares of the company. Silverlake Wealth Management LLC bought a new stake in Tilray Brands in the third quarter valued at approximately $25,000. Oppenheimer & Co. Inc. bought a new position in Tilray Brands in the third quarter worth about $25,000. Unified Investment Management bought a new stake in shares of Tilray Brands during the third quarter valued at approximately $26,000. J.W. Cole Advisors Inc. boosted its stake in Tilray Brands by 203.2% during the second 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. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Tilray Brands in the 3rd quarter worth approximately $30,000. 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.