Tilray Brands (NASDAQ:TLRY) Trading 14.5% Higher - What's Next?

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s stock price shot up 14.5% on Wednesday . The stock traded as high as $0.68 and last traded at $0.68. 55,906,253 shares changed hands during mid-day trading, an increase of 83% from the average session volume of 30,527,206 shares. The stock had previously closed at $0.59.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TLRY. Wall Street Zen lowered Tilray Brands to a "strong sell" rating in a research note on Saturday, July 5th. Piper Sandler cut their price target on Tilray Brands from $2.00 to $1.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 9th. Finally, Roth Capital reissued a "neutral" rating on shares of Tilray Brands in a research note on Monday, April 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $1.92.

Tilray Brands Trading Down 8.9%

The stock has a 50 day moving average price of $0.45 and a 200 day moving average price of $0.70. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.61 and a current ratio of 2.62.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last posted its quarterly earnings data on Tuesday, April 8th. The company reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.06). The company had revenue of $185.78 million during the quarter, compared to analyst estimates of $213.38 million. Tilray Brands had a negative return on equity of 7.40% and a negative net margin of 113.85%. Equities analysts predict that Tilray Brands, Inc. will post -0.2 EPS for the current year.

Hedge Funds Weigh In On Tilray Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC lifted its stake in shares of Tilray Brands by 55.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 31,875 shares of the company's stock worth $42,000 after acquiring an additional 11,325 shares during the period. NewEdge Advisors LLC lifted its stake in shares of Tilray Brands by 92.1% in the fourth quarter. NewEdge Advisors LLC now owns 27,406 shares of the company's stock worth $36,000 after acquiring an additional 13,136 shares during the period. TD Waterhouse Canada Inc. lifted its stake in shares of Tilray Brands by 59.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 37,009 shares of the company's stock worth $49,000 after acquiring an additional 13,786 shares during the period. Schonfeld Strategic Advisors LLC increased its holdings in Tilray Brands by 68.0% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 35,121 shares of the company's stock worth $47,000 after purchasing an additional 14,221 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its holdings in Tilray Brands by 125.7% in the fourth quarter. Jones Financial Companies Lllp now owns 31,725 shares of the company's stock worth $42,000 after purchasing an additional 17,670 shares in the last quarter. 9.35% of the stock is owned by institutional investors and hedge funds.

Tilray Brands Company Profile

Tilray, Inc engages in the research, cultivation, processing, and distribution of medical cannabis. The company offers its products in Argentina, Australia, Canada, Chile, Croatia, Cyprus, the Czech Republic, Germany, New Zealand, and South Africa. Tilray, Inc is headquartered in Canada.