Tilray Brands (NASDAQ:TLRY) Shares Up 4.9% - Here's Why

Key Points

• Shares up 4.9% intraday to about $7.92 (high $7.97) on Tuesday, with roughly 2.22 million shares traded—about 50% below the stock's average daily volume.
• Wall Street sentiment is lukewarm with an average rating of "Hold" (1 Buy, 6 Hold, 1 Sell) and an average price target of $13.33.
• Tilray missed on profitability—reporting EPS of ($0.41) versus a ($0.14) estimate while revenue of $217.5 million beat estimates; the company remains unprofitable with a negative net margin of 251.69% and analysts forecast roughly -0.2 EPS for the year.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) shares were up 4.9% during mid-day trading on Tuesday . The stock traded as high as $7.97 and last traded at $7.92. Approximately 2,217,949 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 4,402,332 shares. The stock had previously closed at $7.55.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TLRY. Canaccord Genuity Group began coverage on Tilray Brands in a research note on Tuesday, January 27th. They set a "hold" rating on the stock. Zacks Research upgraded Tilray Brands from a "strong sell" rating to a "hold" rating in a report on Wednesday, February 11th. ATB Cormark Capital Markets raised Tilray Brands from a "strong sell" rating to a "hold" rating in a research report on Wednesday, December 10th. Weiss Ratings restated a "sell (d-)" rating on shares of Tilray Brands in a research note on Wednesday, January 21st. Finally, Wall Street Zen raised shares of Tilray Brands from a "sell" rating to a "hold" rating in a report on Sunday. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $13.33.

Tilray Brands Stock Up 4.9%

The firm has a market cap of $922.74 million, a price-to-earnings ratio of -0.36 and a beta of 2.02. The company has a current ratio of 2.81, a quick ratio of 1.72 and a debt-to-equity ratio of 0.19. The stock has a 50-day moving average of $8.95 and a 200-day moving average of $11.12.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last issued its earnings results on Thursday, January 8th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.27). 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 period in the prior year, the business earned ($0.03) earnings per share. As a group, sell-side analysts forecast that Tilray Brands, Inc. will post -0.2 EPS for the current fiscal year.

Institutional Trading of Tilray Brands

Several hedge funds have recently bought and sold shares of the company. Tidal Investments LLC grew its position in Tilray Brands by 15.0% in the 2nd 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 raised its holdings in shares of Tilray Brands by 281.0% during the third quarter. Millennium Management LLC now owns 4,942,319 shares of the company's stock valued at $8,550,000 after buying an additional 3,645,060 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Tilray Brands during the third quarter worth approximately $5,813,000. Ausdal Financial Partners Inc. bought a new position in Tilray Brands in the 2nd quarter worth approximately $939,000. Finally, Scientech Research LLC bought a new position in Tilray Brands in the 3rd quarter worth approximately $1,748,000. 9.35% of the stock is currently 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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