Tilray Brands (NASDAQ:TLRY) Stock Price Up 1.2% - Time to Buy?

Key Points

• Shares rose about 1.2% to $5.76 intraday, and analysts maintain a consensus “Hold” rating with a $11.50 average target (3 Buys, 4 Holds, 1 Sell).
• Tilray reported Q1 EPS of -$0.24, missing estimates by $0.10 while revenue beat at $206.7M, but the company remains unprofitable with a negative net margin of 156.51% and ROE of -3.31%.
• Director David G. Hopkinson disclosed a sale of 33,556 shares at about $6.94, while institutional investors such as Tidal Investments and Millennium Management materially increased their stakes; institutions now own roughly 9.35% of the stock.

Shares of Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) rose 1.2% on Wednesday . The company traded as high as $5.90 and last traded at $5.76. Approximately 4,337,557 shares traded hands during mid-day trading, a decline of 6% from the average daily volume of 4,604,018 shares. The stock had previously closed at $5.69.

Wall Street Analyst Weigh In

TLRY has been the subject of a number of analyst reports. Wall Street Zen upgraded Tilray Brands from a "sell" rating to a "hold" rating in a research note on Saturday, March 21st. ATB Cormark Capital Markets decreased their price target on Tilray Brands from $9.50 to $9.00 and set a "sector perform" rating for the company in a research note on Thursday, April 2nd. Canaccord Genuity Group initiated coverage on Tilray Brands in a research note on Tuesday, January 27th. They issued a "hold" rating for the company. Roth Mkm upgraded Tilray Brands from a "neutral" rating to a "buy" rating and set a $10.00 price target for the company in a research note on Thursday, April 2nd. Finally, Weiss Ratings upgraded Tilray Brands from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, April 29th. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $11.50.

Tilray Brands Stock Up 1.2%

The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.66 and a current ratio of 2.79. The company has a 50 day moving average price of $6.84 and a 200 day moving average price of $8.87.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last issued its 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). Tilray Brands had a negative return on equity of 3.31% and a negative net margin of 156.51%.The business had revenue of $206.73 million for the quarter, compared to the consensus estimate of $201.35 million. During the same quarter in the prior year, the firm posted ($0.87) earnings per share. On average, research analysts expect that Tilray Brands, Inc. will post -0.58 EPS for the current year.

Insider Activity at Tilray Brands

In other news, Director David G. Hopkinson sold 33,556 shares of Tilray Brands stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $6.94, for a total transaction of $232,878.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.84% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Tidal Investments LLC boosted its stake in shares of Tilray Brands by 15.0% during the 2nd quarter. Tidal Investments LLC now owns 28,971,835 shares of the company's stock worth $12,006,000 after acquiring an additional 3,776,410 shares during the period. Millennium Management LLC boosted its stake 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 period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Tilray Brands in the 3rd quarter valued at $5,813,000. Ausdal Financial Partners Inc. bought a new stake in Tilray Brands in the 2nd quarter valued at $939,000. Finally, Swiss National Bank boosted its stake in Tilray Brands by 4.4% in the 3rd quarter. Swiss National Bank now owns 2,013,038 shares of the company's stock valued at $3,483,000 after purchasing an additional 84,900 shares during the period. 9.35% of the stock is currently owned by institutional investors.

About Tilray Brands

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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