Tilray Brands (NASDAQ:TLRY) Stock Price Up 1.7% – What’s Next?

Tilray Brands, Inc. (NASDAQ:TLRY)’s share price rose 1.7% during trading on Monday . The company traded as high as $6.95 and last traded at $6.66. Approximately 3,539,302 shares were traded during mid-day trading, a decline of 4% from the average daily volume of 3,698,114 shares. The stock had previously closed at $6.55.

Analyst Upgrades and Downgrades

TLRY has been the subject of a number of recent research reports. 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. Zacks Research upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 11th. Wall Street Zen upgraded shares of Tilray Brands from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Roth Mkm upgraded 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. Finally, TD Cowen dropped their price target on Tilray Brands from $10.00 to $7.00 and set a “buy” rating on the stock in a research note on Monday, March 30th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $11.20.

Tilray Brands Price Performance

The firm has a market cap of $786.42 million, a PE ratio of -0.49 and a beta of 2.00. The company has a quick ratio of 1.72, a current ratio of 2.79 and a debt-to-equity ratio of 0.19. The stock has a 50 day moving average price of $7.18 and a two-hundred day moving average price of $10.08.

Tilray Brands (NASDAQ:TLRY) last issued its quarterly 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 business had revenue of $206.73 million for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the firm posted ($0.87) EPS. As a group, equities analysts expect that Tilray Brands, Inc. will post -0.2 earnings per share for the current year.

Hedge Funds Weigh In On Tilray Brands

Several hedge funds and other institutional investors have recently bought and sold shares of TLRY. Silverlake Wealth Management LLC acquired a new position in Tilray Brands in the 3rd quarter worth approximately $25,000. Oppenheimer & Co. Inc. acquired a new position in Tilray Brands in the 3rd quarter worth approximately $25,000. Unified Investment Management acquired a new position in Tilray Brands in the 3rd quarter worth approximately $26,000. Y Intercept Hong Kong Ltd acquired a new position in Tilray Brands in the 3rd quarter worth approximately $30,000. Finally, HighPoint Advisor Group LLC acquired a new position in Tilray Brands in the 3rd quarter worth approximately $33,000. Institutional investors and hedge funds 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.