Tilray Brands (NASDAQ:TLRY) Shares Up 2.1% - Time to Buy?

Key Points

• Tilray Brands shares rose about 2.1% to $7.21 on Friday, though trading volume was down roughly 35% versus the average session.
• Analysts have a consensus “Hold” rating (1 Buy, 6 Hold, 1 Sell) with a mean price target of $13.33, and several recent rating/target changes including Roth MKM cutting its target from $20 to $10.
• The company has a market cap near $840M and beat its last quarter’s EPS estimate ($‑0.02 vs. $‑0.14) and revenue of $217.5M, but remains unprofitable with a very negative net margin (~‑251.7%) while showing healthy liquidity (current ratio 2.81) and low leverage (debt/equity 0.19); institutional ownership is about 9.35%.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) shares shot up 2.1% during trading on Friday . The company traded as high as $7.30 and last traded at $7.21. 2,678,393 shares changed hands during mid-day trading, a decline of 35% from the average session volume of 4,101,584 shares. The stock had previously closed at $7.06.

Analyst Upgrades and Downgrades

TLRY has been the subject of several recent research reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Tilray Brands in a research note on Wednesday, January 21st. Canaccord Genuity Group began coverage on shares of Tilray Brands in a research note on Tuesday, January 27th. They issued a "hold" rating on the stock. ATB Cormark Capital Markets upgraded shares of Tilray Brands from a "strong sell" rating to a "hold" rating in a report on Wednesday, December 10th. Wall Street Zen upgraded Tilray Brands from a "sell" rating to a "hold" rating in a research note on Sunday, February 22nd. Finally, Roth Mkm cut their target price on shares of Tilray Brands from $20.00 to $10.00 and set a "neutral" rating for the company in a research report on Tuesday, January 20th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $13.33.

Tilray Brands Price Performance

The business's 50-day moving average price is $8.34 and its 200 day moving average price is $10.98. The company has a market capitalization of $840.04 million, a P/E ratio of -0.33 and a beta of 1.96. The company has a quick ratio of 1.72, a current ratio of 2.81 and a debt-to-equity ratio of 0.19.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last posted its quarterly earnings data on Thursday, January 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.12. The company had revenue of $217.51 million during the quarter, compared to analyst estimates of $211.15 million. Tilray Brands had a negative return on equity of 6.35% and a negative net margin of 251.69%.During the same quarter last year, the company earned ($0.03) earnings per share. Analysts anticipate that Tilray Brands, Inc. will post -0.2 EPS for the current fiscal year.

Institutional Trading of Tilray Brands

A number of hedge funds have recently made changes to their positions in TLRY. Silverlake Wealth Management LLC bought a new position in Tilray Brands in the third quarter valued at $25,000. Oppenheimer & Co. Inc. purchased a new position in shares of Tilray Brands during the 3rd quarter valued at about $25,000. Unified Investment Management bought a new stake in Tilray Brands in the 3rd quarter worth approximately $26,000. J.W. Cole Advisors Inc. lifted its position in Tilray Brands by 203.2% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 71,890 shares of the company's stock worth $30,000 after buying an additional 48,177 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Tilray Brands in the third quarter worth approximately $30,000. 9.35% of the stock is owned by institutional investors.

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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