Tilray Brands (NASDAQ:TLRY) Shares Up 2.1% - Still a Buy?

Key Points

• Shares rose 2.1% to about $6.89 on Monday, trading as high as $6.96 with volume of ~6.99M shares — a ~54% increase versus average session volume.
• Analysts are mixed: the consensus rating is Hold (3 Buys, 4 Holds, 1 Sell) with an average price target of $11.50, though several firms recently lowered targets (e.g., TD Cowen to $7.00, ATB Cormark to $9.00).
• Tilray reported Q1 EPS of ($0.24), missing estimates while revenue of $206.7M modestly beat; the company remains unprofitable with a negative net margin and an expected FY EPS of about -0.55, but shows a healthy liquidity position (current ratio 2.79) and low leverage (debt/equity 0.19).

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) shares shot up 2.1% during mid-day trading on Monday . The company traded as high as $6.96 and last traded at $6.89. 6,991,298 shares changed hands during trading, an increase of 54% from the average session volume of 4,536,629 shares. The stock had previously closed at $6.75.

Wall Street Analysts Forecast Growth

TLRY has been the subject of a number of research analyst reports. ATB Cormark Capital Markets decreased their target price on Tilray Brands from $9.50 to $9.00 and set a "sector perform" rating for the company in a research report on Thursday, April 2nd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Tilray Brands in a research report on Wednesday, January 21st. Canaccord Genuity Group initiated coverage on Tilray Brands in a research report on Tuesday, January 27th. They set a "hold" rating for the company. Wall Street Zen raised Tilray Brands from a "sell" rating to a "hold" rating in a research report on Saturday, March 21st. Finally, TD Cowen decreased their target price on Tilray Brands from $10.00 to $7.00 and set a "buy" rating for the company in a research report on Monday, March 30th. 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 company's stock. According to MarketBeat.com, Tilray Brands currently has an average rating of "Hold" and a consensus price target of $11.50.

Tilray Brands Trading Up 2.1%

The company has a current ratio of 2.79, a quick ratio of 1.66 and a debt-to-equity ratio of 0.19. The stock has a 50-day simple moving average of $7.01 and a two-hundred day simple moving average of $9.34. The firm has a market capitalization of $803.03 million, a P/E ratio of -0.50 and a beta of 2.00.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last released its quarterly earnings results on Wednesday, April 1st. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.10). The company had revenue of $206.73 million during the quarter, compared to the consensus estimate of $201.35 million. Tilray Brands had a negative return on equity of 3.31% and a negative net margin of 156.51%.During the same period in the previous year, the firm posted ($0.87) earnings per share. On average, equities research analysts anticipate that Tilray Brands, Inc. will post -0.55 earnings per share for the current year.

Insider Activity at Tilray Brands

In other news, Director David G. Hopkinson sold 33,556 shares of the business's stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $6.94, for a total value of $232,878.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.84% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TLRY. Hilton Head Capital Partners LLC bought a new position in shares of Tilray Brands during the 4th quarter worth approximately $38,000. Engineers Gate Manager LP purchased a new stake in Tilray Brands during the fourth quarter valued at approximately $126,000. Oppenheimer & Co. Inc. purchased a new stake in Tilray Brands during the third quarter valued at approximately $25,000. Silverlake Wealth Management LLC purchased a new stake in Tilray Brands during the third quarter valued at approximately $25,000. Finally, Apollon Wealth Management LLC purchased a new stake in Tilray Brands during the first quarter valued at approximately $96,000. Hedge funds and other institutional investors own 9.35% of the company's stock.

Tilray Brands Company Profile

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.

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