Tilray Brands (NASDAQ:TLRY) Shares Climb 3.9% - Time to Buy?

Key Points

• Tilray shares rose 3.9% to $2.65 in mid-day trading, with volume 19% above its average.
• Analyst views are mixed, but the consensus rating is Hold with an average price target of $5.90; recent firms cut some ratings and price targets.
• Quarterly EPS of -$0.02 beat estimates of -$0.18, while revenue of $257.15 million fell short of the $266.26 million consensus. Tilray also reported a negative net margin of 16.91%.

Shares of Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) rose 3.9% on Tuesday. The company traded as high as $2.74 and last traded at $2.65. Approximately 5,017,895 shares changed hands during mid-day trading, an increase of 19% from the average session volume of 4,232,078 shares. The stock had previously closed at $2.55.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TLRY. Wall Street Zen lowered Tilray Brands from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. Canaccord Genuity Group dropped their price objective on Tilray Brands from $4.50 to $4.00 and set a "hold" rating for the company in a report on Friday, October 9th. TD Cowen dropped their price objective on Tilray Brands from $7.00 to $5.00 and set a "buy" rating for the company in a report on Tuesday, July 14th. Zacks Research lowered Tilray Brands from a "hold" rating to a "strong sell" rating in a research note on Tuesday, September 29th. Finally, Weiss Ratings cut Tilray Brands from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday, October 23rd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $5.90.

Tilray Brands Stock Performance

The company has a quick ratio of 1.11, a current ratio of 1.88 and a debt-to-equity ratio of 0.17. The stock has a market cap of $391.64 million, a price-to-earnings ratio of -1.89 and a beta of 1.91. The stock's fifty day moving average is $3.74 and its 200-day moving average is $5.47.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last posted its earnings results on Thursday, October 8th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.16. The company had revenue of $257.15 million for the quarter, compared to analyst estimates of $266.26 million. Tilray Brands had a negative net margin of 16.91% and a negative return on equity of 10.39%. On average, analysts forecast that Tilray Brands, Inc. will post -0.52 EPS for the current year.

Institutional Trading of Tilray Brands

A number of large investors have recently made changes to their positions in TLRY. BlackRock Inc. acquired a new stake in shares of Tilray Brands during the second quarter worth about $2,073,000. Legal & General Group Plc bought a new position in shares of Tilray Brands during the 2nd quarter valued at about $381,000. Ieq Capital LLC acquired a new position in shares of Tilray Brands in the 2nd quarter valued at approximately $146,000. Deutsche Bank AG acquired a new position in shares of Tilray Brands in the 2nd quarter valued at approximately $44,000. Finally, State of Wyoming bought a new stake in Tilray Brands during the 2nd quarter worth approximately $171,000. Institutional investors own 9.35% of the company's stock.

About Tilray Brands

Tilray Brands, Inc is a global consumer packaged goods company operating across the cannabis, beverage alcohol, wellness and distribution sectors. Its cannabis business includes adult-use and medical cannabis products such as dried flower, pre-rolls, vapes, concentrates, edibles and beverages, marketed under brands including Good Supply, RIFF and Broken Coast.

The company also owns and operates beverage alcohol businesses, including SweetWater Brewing Company, Montauk Brewing Company, Alpine Beer Company, Green Flash Brewing Co and Blue Point Brewing Company.

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