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

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TLRY shares. Piper Sandler decreased their price objective on Tilray Brands from $2.00 to $1.00 and set a "neutral" rating for the company in a report on Wednesday, April 9th. Wall Street Zen cut shares of Tilray Brands to a "strong sell" rating in a report on Saturday, July 5th. Finally, Roth Capital reaffirmed a "neutral" rating on shares of Tilray Brands in a research note on Monday, April 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $1.92.

Tilray Brands Price Performance

The stock has a market capitalization of $641.24 million, a P/E ratio of -0.61 and a beta of 1.82. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.61 and a current ratio of 2.62. The firm has a fifty day moving average price of $0.44 and a two-hundred day moving average price of $0.71.

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

Institutional Investors Weigh In On Tilray Brands

Several institutional investors have recently added to or reduced their stakes in TLRY. Baader Bank Aktiengesellschaft lifted its holdings in shares of Tilray Brands by 11.0% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 339,706 shares of the company's stock valued at $134,000 after buying an additional 33,684 shares during the period. AQR Capital Management LLC boosted its stake in Tilray Brands by 1,839.7% during the 1st quarter. AQR Capital Management LLC now owns 607,054 shares of the company's stock worth $399,000 after purchasing an additional 575,757 shares during the last quarter. State of Wyoming raised its holdings in Tilray Brands by 133.0% in the 1st quarter. State of Wyoming now owns 241,165 shares of the company's stock valued at $159,000 after acquiring an additional 137,676 shares during the last quarter. Zuckerman Investment Group LLC acquired a new position in Tilray Brands during the first quarter worth $33,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Tilray Brands by 30.4% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 527,995 shares of the company's stock valued at $345,000 after purchasing an additional 122,969 shares during the period. Institutional investors and hedge funds own 9.35% of the company's stock.

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.