Tilray Brands (NASDAQ:TLRY) Shares Up 7.5% – What’s Next?

Tilray Brands, Inc. (NASDAQ:TLRY) traded up 7.5% during trading on Friday . The stock traded as high as $7.65 and last traded at $7.58. 3,051,564 shares traded hands during mid-day trading, a decline of 41% from the average session volume of 5,206,597 shares. The stock had previously closed at $7.05.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Roth Mkm decreased their price target on shares of Tilray Brands from $20.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, January 20th. Zacks Research downgraded shares of Tilray Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. ATB Capital upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 10th. 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. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Tilray Brands in a report on Wednesday, January 21st. One analyst has rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Tilray Brands has an average rating of “Reduce” and a consensus price target of $13.33.

Tilray Brands Stock Performance

The company has a quick ratio of 1.72, a current ratio of 2.81 and a debt-to-equity ratio of 0.19. The stock’s fifty day moving average is $9.13 and its two-hundred day moving average is $10.97. The firm has a market capitalization of $883.15 million, a price-to-earnings ratio of -0.34 and a beta of 2.02.

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

Hedge Funds Weigh In On Tilray Brands

A number of institutional investors have recently bought and sold shares of the business. IFP Advisors Inc lifted its position in shares of Tilray Brands by 14.3% in the fourth quarter. IFP Advisors Inc now owns 60,318 shares of the company’s stock valued at $545,000 after buying an additional 7,541 shares during the last quarter. Integrated Wealth Concepts LLC raised its stake in Tilray Brands by 33.8% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 36,977 shares of the company’s stock valued at $64,000 after acquiring an additional 9,341 shares during the period. CreativeOne Wealth LLC raised its stake in Tilray Brands by 12.2% in the 3rd quarter. CreativeOne Wealth LLC now owns 87,134 shares of the company’s stock valued at $151,000 after acquiring an additional 9,452 shares during the period. Dudley Capital Management LLC lifted its holdings in Tilray Brands by 73.3% during the 3rd quarter. Dudley Capital Management LLC now owns 26,000 shares of the company’s stock valued at $45,000 after purchasing an additional 11,000 shares during the last quarter. Finally, Arizona State Retirement System boosted its position in Tilray Brands by 4.3% during the third quarter. Arizona State Retirement System now owns 307,193 shares of the company’s stock worth $531,000 after purchasing an additional 12,675 shares during the period. 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.