Tilray Brands (NASDAQ:TLRY) Shares Up 4.2% - Here's Why

Key Points

• Tilray shares jumped 4.2% Monday to about $7.15 (intraday high $7.23) on heavy volume of 5.08M shares, roughly 77% above the average session volume.
• Analysts are mixed — brokers have both upgraded and cut ratings (e.g., Roth MKM to Buy, TD Cowen trimming its target to $7) and the stock carries a consensus rating of Hold with a consensus price target of $11.50.
• In the latest quarter Tilray reported EPS of -$0.24, missing estimates (-$0.14) by $0.10 while posting revenue of $206.7M (above estimates), and reported a negative net margin (~156.5%) and negative ROE.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) shot up 4.2% during trading on Monday . The stock traded as high as $7.23 and last traded at $7.15. 5,075,251 shares changed hands during mid-day trading, an increase of 77% from the average session volume of 2,860,661 shares. The stock had previously closed at $6.86.

Analysts Set New Price Targets

A number of brokerages have weighed in on TLRY. Zacks Research upgraded Tilray Brands from a "strong sell" rating to a "hold" rating in a report on Wednesday, February 11th. Roth Mkm raised shares of Tilray Brands from a "neutral" rating to a "buy" rating and set a $10.00 target price for the company in a report on Thursday, April 2nd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Tilray Brands in a research report on Wednesday, January 21st. TD Cowen decreased their price target on shares of Tilray Brands from $10.00 to $7.00 and set a "buy" rating on the stock in a research note on Monday, March 30th. Finally, ATB Cormark Capital Markets lowered their price target on shares of Tilray Brands from $9.50 to $9.00 and set a "sector perform" rating on the stock in a research report on Thursday, April 2nd. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Tilray Brands presently has an average rating of "Hold" and a consensus price target of $11.50.

Tilray Brands Stock Performance

The stock has a market cap of $833.33 million, a price-to-earnings ratio of -0.52 and a beta of 2.00. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.79 and a quick ratio of 1.66. The firm has a fifty day moving average of $7.06 and a 200 day moving average of $9.67.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last released its quarterly earnings data on Wednesday, April 1st. The company reported ($0.24) earnings per share for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.10). The company had revenue of $206.73 million for the quarter, compared to analyst estimates 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 last year, the firm posted ($0.87) EPS. As a group, sell-side analysts forecast that Tilray Brands, Inc. will post -0.55 EPS for the current year.

Institutional Investors Weigh In On Tilray Brands

A number of hedge funds have recently modified their holdings of TLRY. Tidal Investments LLC increased its position in Tilray Brands by 15.0% during the second quarter. Tidal Investments LLC now owns 28,971,835 shares of the company's stock worth $12,006,000 after purchasing an additional 3,776,410 shares during the last quarter. Millennium Management LLC boosted its holdings in Tilray Brands by 281.0% in the 3rd quarter. Millennium Management LLC now owns 4,942,319 shares of the company's stock valued at $8,550,000 after purchasing an additional 3,645,060 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Tilray Brands in the 3rd quarter valued at about $5,813,000. Ausdal Financial Partners Inc. purchased a new stake in shares of Tilray Brands in the 2nd quarter valued at approximately $939,000. Finally, Scientech Research LLC purchased a new stake in shares of Tilray Brands in the 3rd quarter valued at approximately $1,748,000. 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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