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

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) shares saw an uptick in trading volume on Wednesday . 28,303,540 shares were traded 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

A number of research firms have issued reports on TLRY. Wall Street Zen cut shares of Tilray Brands to a "strong sell" rating in a research note on Saturday, July 5th. Roth Capital restated a "neutral" rating on shares of Tilray Brands in a research note on Monday, April 14th. Finally, Piper Sandler reduced their price objective 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $1.92.

Tilray Brands Price Performance

The stock's 50-day moving average is $0.44 and its 200-day moving average is $0.71. The firm has a market cap of $611.95 million, a P/E ratio of -0.58 and a beta of 1.82. The company has a quick ratio of 1.61, a current ratio of 2.62 and a debt-to-equity ratio of 0.12.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last announced 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). The company had revenue of $185.78 million for the quarter, compared to analyst estimates of $213.38 million. Tilray Brands had a negative net margin of 113.85% and a negative return on equity of 7.40%. As a group, equities analysts anticipate that Tilray Brands, Inc. will post -0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TLRY. Lido Advisors LLC acquired a new position in shares of Tilray Brands during the fourth quarter valued at about $28,000. Dudley Capital Management LLC bought a new stake in Tilray Brands in the 4th quarter valued at $29,000. Cerity Partners LLC bought a new stake in Tilray Brands in the 1st quarter valued at $31,000. Capital Management Associates Inc increased its holdings in Tilray Brands by 100.0% in the 1st quarter. Capital Management Associates Inc now owns 50,760 shares of the company's stock valued at $33,000 after buying an additional 25,380 shares during the period. Finally, Fifth Lane Capital LP increased its holdings in Tilray Brands by 400.0% in the 1st quarter. Fifth Lane Capital LP now owns 50,000 shares of the company's stock valued at $33,000 after buying an additional 40,000 shares during the period. Institutional investors and hedge funds own 9.35% of the company's stock.

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.