Tilray Brands (NASDAQ:TLRY) Stock Price Up 1.8% – What’s Next?

Tilray Brands, Inc. (NASDAQ:TLRY)’s stock price rose 1.8% on Wednesday . The company traded as high as $5.69 and last traded at $5.55. Approximately 3,288,637 shares changed hands during trading, a decline of 25% from the average daily volume of 4,411,596 shares. The stock had previously closed at $5.45.

Analysts Set New Price Targets

TLRY has been the topic of a number of recent analyst reports. ATB Cormark Capital Markets cut their price target on shares of Tilray Brands from $9.50 to $9.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 2nd. Weiss Ratings downgraded shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 13th. TD Cowen cut their price target on shares of Tilray Brands from $10.00 to $7.00 and set a “buy” rating on the stock in a research note on Monday, March 30th. Zacks Research raised shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 11th. Finally, Roth Mkm raised shares of 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. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $11.50.

Tilray Brands Stock Performance

The stock has a market capitalization of $642.19 million, a P/E ratio of -0.40 and a beta of 1.94. The company’s 50-day moving average is $6.23 and its two-hundred day moving average is $7.93. The company has a current ratio of 2.79, a quick ratio of 1.66 and a debt-to-equity ratio of 0.19.

Tilray Brands (NASDAQ:TLRY) last issued its quarterly earnings data on Wednesday, April 1st. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.10). The firm had revenue of $206.73 million during the quarter, compared to the consensus estimate of $201.35 million. Tilray Brands had a negative net margin of 156.51% and a negative return on equity of 3.31%. During the same quarter in the prior year, the business earned ($0.87) earnings per share. As a group, sell-side analysts anticipate that Tilray Brands, Inc. will post -0.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tilray Brands news, Director David G. Hopkinson sold 33,556 shares of the business’s stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $6.94, for a total transaction of $232,878.64. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.84% of the stock is currently owned by corporate insiders.

Institutional Trading of Tilray Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in TLRY. AQR Capital Management LLC raised its position in shares of Tilray Brands by 1,839.7% during the 1st quarter. AQR Capital Management LLC now owns 607,054 shares of the company’s stock worth $399,000 after buying an additional 575,757 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Tilray Brands during the 2nd quarter worth about $112,000. Cerity Partners LLC raised its position in shares of Tilray Brands by 98.5% during the 2nd quarter. Cerity Partners LLC now owns 92,560 shares of the company’s stock worth $38,000 after buying an additional 45,929 shares in the last quarter. Ausdal Financial Partners Inc. bought a new stake in shares of Tilray Brands during the 2nd quarter worth about $939,000. Finally, Bank of America Corp DE raised its position in shares of Tilray Brands by 26.5% during the 2nd quarter. Bank of America Corp DE now owns 311,810 shares of the company’s stock worth $129,000 after buying an additional 65,379 shares in the last quarter. 9.35% of the stock is currently owned by institutional investors.

About Tilray Brands

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.