Tilray Brands (NASDAQ:TLRY) Sees Strong Trading Volume - Still a Buy?

Shares of Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) saw an uptick in trading volume on Wednesday . 28,303,540 shares changed hands during mid-day trading, a decline of 7% from the previous session's volume of 30,403,320 shares.The stock last traded at $0.64 and had previously closed at $0.59.

Analysts Set New Price Targets

Several research firms recently weighed in on TLRY. Piper Sandler decreased their target price on shares of Tilray Brands from $2.00 to $1.00 and set a "neutral" rating for the company in a research note on Wednesday, April 9th. Roth Capital reissued a "neutral" rating on shares of Tilray Brands in a research note on Monday, April 14th. Finally, Wall Street Zen cut shares of Tilray Brands to a "strong sell" rating in a research note on Saturday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, Tilray Brands has a consensus rating of "Hold" and an average price target of $1.92.

Tilray Brands Stock Performance

The company has a debt-to-equity ratio of 0.12, a current ratio of 2.62 and a quick ratio of 1.61. The stock's 50-day simple moving average is $0.44 and its 200 day simple moving average is $0.72. The stock has a market capitalization of $679.49 million, a P/E ratio of -0.64 and a beta of 1.82.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last released its quarterly earnings data on Tuesday, April 8th. The company reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.06). Tilray Brands had a negative return on equity of 7.40% and a negative net margin of 113.85%. The company had revenue of $185.78 million for the quarter, compared to the consensus estimate of $213.38 million. Research analysts expect that Tilray Brands, Inc. will post -0.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Tilray Brands

Hedge funds and other institutional investors have recently modified their holdings of the company. Lido Advisors LLC acquired a new stake in shares of Tilray Brands during the fourth quarter worth $28,000. Dudley Capital Management LLC acquired a new stake in shares of Tilray Brands during the fourth quarter worth $29,000. Cerity Partners LLC acquired a new stake in shares of Tilray Brands during the first quarter worth $31,000. Capital Management Associates Inc lifted its holdings in shares of Tilray Brands by 100.0% during the first quarter. Capital Management Associates Inc now owns 50,760 shares of the company's stock worth $33,000 after buying an additional 25,380 shares in the last quarter. Finally, Fifth Lane Capital LP lifted its holdings in shares of Tilray Brands by 400.0% during the first quarter. Fifth Lane Capital LP now owns 50,000 shares of the company's stock worth $33,000 after buying an additional 40,000 shares in the last quarter. Institutional investors and hedge funds own 9.35% of the company's stock.

Tilray Brands Company Profile

Tilray, Inc engages in the research, cultivation, processing, and distribution of medical cannabis. The company offers its products in Argentina, Australia, Canada, Chile, Croatia, Cyprus, the Czech Republic, Germany, New Zealand, and South Africa. Tilray, Inc is headquartered in Canada.