Tilray Brands (NASDAQ:TLRY) Sees Large Volume Increase - Should You Buy?

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 28,303,540 shares were traded during 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.

Wall Street Analysts Forecast Growth

TLRY has been the topic of a number of recent analyst reports. Piper Sandler lowered their price target on shares of Tilray Brands from $2.00 to $1.00 and set a "neutral" rating on the stock in a report on Wednesday, April 9th. Wall Street Zen downgraded shares of Tilray Brands to a "strong sell" rating in a report on Saturday. Finally, Roth Capital reaffirmed a "neutral" rating on shares of Tilray Brands in a report on Monday, April 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $1.92.

Tilray Brands Trading Up 17.4%

The company's 50 day moving average price is $0.44 and its two-hundred day moving average price is $0.72. 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 has a market capitalization of $697.50 million, a PE ratio of -0.66 and a beta of 1.82.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last issued its earnings results 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 firm had revenue of $185.78 million for the quarter, compared to analysts' expectations of $213.38 million. As a group, analysts expect 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 company. Tower Research Capital LLC TRC lifted its stake in Tilray Brands by 55.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 31,875 shares of the company's stock worth $42,000 after acquiring an additional 11,325 shares during the last quarter. NewEdge Advisors LLC lifted its stake in Tilray Brands by 92.1% in the fourth quarter. NewEdge Advisors LLC now owns 27,406 shares of the company's stock worth $36,000 after acquiring an additional 13,136 shares during the last quarter. TD Waterhouse Canada Inc. lifted its stake in Tilray Brands by 59.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 37,009 shares of the company's stock worth $49,000 after acquiring an additional 13,786 shares during the last quarter. Schonfeld Strategic Advisors LLC lifted its stake in Tilray Brands by 68.0% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 35,121 shares of the company's stock worth $47,000 after acquiring an additional 14,221 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in Tilray Brands by 125.7% in the fourth quarter. Jones Financial Companies Lllp now owns 31,725 shares of the company's stock worth $42,000 after acquiring an additional 17,670 shares during the last quarter. 9.35% of the stock is owned by hedge funds and other institutional investors.

About Tilray Brands

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.

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