Tilray Brands (NASDAQ:TLRY) Trading 1.9% Higher – Here’s What Happened

Tilray Brands, Inc. (NASDAQ:TLRYGet Free Report) shares traded up 1.9% during mid-day trading on Monday . The company traded as high as $7.40 and last traded at $7.35. 3,223,481 shares were traded during mid-day trading, a decline of 21% from the average session volume of 4,082,578 shares. The stock had previously closed at $7.21.

Key Stories Impacting Tilray Brands

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

Analyst Ratings Changes

A number of analysts have commented on TLRY shares. Weiss Ratings restated a “sell (d-)” rating on shares of Tilray Brands in a research report on Wednesday, January 21st. Roth Mkm cut their price objective on Tilray Brands from $20.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, January 20th. Canaccord Genuity Group initiated coverage on shares of Tilray Brands in a report on Tuesday, January 27th. They issued a “hold” rating for the company. ATB Cormark Capital Markets upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 10th. Finally, Wall Street Zen lowered shares of Tilray Brands from a “hold” rating to a “sell” rating in a research report on Saturday. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $13.33.

Read Our Latest Report on Tilray Brands

Tilray Brands Price Performance

The firm has a 50 day moving average of $8.22 and a 200-day moving average of $10.90. The company has a current ratio of 2.81, a quick ratio of 1.72 and a debt-to-equity ratio of 0.19. The company has a market cap of $841.18 million, a P/E ratio of -0.33 and a beta of 1.96.

Tilray Brands (NASDAQ:TLRYGet Free Report) last posted its quarterly earnings results on Thursday, January 8th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.12. The business had revenue of $217.51 million during the quarter, compared to the consensus estimate 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 period in the prior year, the company posted ($0.03) EPS. On average, equities research analysts predict 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 bought and sold shares of the stock. Alpine Global Management LLC purchased a new stake in shares of Tilray Brands in the fourth quarter worth about $169,000. Voloridge Investment Management LLC bought a new position in Tilray Brands during the fourth quarter valued at $824,000. Polymer Capital Management US LLC purchased a new stake in Tilray Brands in the 4th quarter worth about $1,058,000. Engineers Gate Manager LP bought a new stake in Tilray Brands in the fourth quarter worth about $126,000. Finally, Schonfeld Strategic Advisors LLC lifted its stake in Tilray Brands by 4.5% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 144,358 shares of the company’s stock worth $1,304,000 after purchasing an additional 6,182 shares during the last quarter. 9.35% of the stock is currently owned by institutional investors.

Tilray Brands Company Profile

(Get Free Report)

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.

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