Tilray Brands (NASDAQ:TLRY) Stock Price Up 1.6% - What's Next?

Key Points

• Tilray shares rose 1.6% to $6.24 on Thursday with about 4.46M shares traded (slightly below average), and the stock sits under its 50‑day and 200‑day moving averages of $6.92 and $9.12, respectively.
• The company missed on EPS for the quarter, reporting ($0.24) vs. an expected ($0.14) while posting revenue of $206.7M; Tilray remains unprofitable with a negative net margin (~156.5%) and analysts expect ~‑0.58 EPS for the year.
• Analyst coverage is mixed—three Buys, four Holds and one Sell—giving an average rating of Hold and an average price target of $11.50, with recent notable actions including ATB Cormark trimming its target to $9 and Roth MKM upgrading to a Buy with a $10 target.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) rose 1.6% on Thursday . The company traded as high as $6.29 and last traded at $6.24. Approximately 4,459,130 shares traded hands during trading, a decline of 2% from the average daily volume of 4,568,607 shares. The stock had previously closed at $6.14.

Analysts Set New Price Targets

TLRY has been the topic of a number of recent analyst reports. ATB Cormark Capital Markets lowered their price target on 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. Roth Mkm raised Tilray Brands from a "neutral" rating to a "buy" rating and set a $10.00 price target on the stock in a research report on Thursday, April 2nd. Zacks Research raised Tilray Brands from a "strong sell" rating to a "hold" rating in a research report on Wednesday, February 11th. Weiss Ratings reissued a "sell (d-)" rating on shares of Tilray Brands in a research report on Wednesday, January 21st. Finally, Canaccord Genuity Group initiated coverage on Tilray Brands in a research report on Tuesday, January 27th. They set a "hold" rating on the stock. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $11.50.

Tilray Brands Stock Performance

The firm has a 50-day moving average price of $6.92 and a 200 day moving average price of $9.12. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.79 and a quick ratio of 1.66.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last posted 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 net margin of 156.51% and a negative return on equity of 3.31%. The firm had revenue of $206.73 million during the quarter, compared to analyst estimates of $201.35 million. During the same period in the previous year, the company posted ($0.87) EPS. On average, analysts anticipate 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 the company's stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $6.94, for a total value of $232,878.64. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.84% of the company's stock.

Hedge Funds Weigh In On Tilray Brands

Several institutional investors and hedge funds have recently made changes to their positions in TLRY. AQR Capital Management LLC grew its position in shares of Tilray Brands by 1,839.7% in the first quarter. AQR Capital Management LLC now owns 607,054 shares of the company's stock valued at $399,000 after purchasing an additional 575,757 shares during the last quarter. XTX Topco Ltd acquired a new stake in Tilray Brands during the second quarter worth approximately $112,000. Cerity Partners LLC grew its position in Tilray Brands by 98.5% during the second quarter. Cerity Partners LLC now owns 92,560 shares of the company's stock worth $38,000 after buying an additional 45,929 shares in the last quarter. Ausdal Financial Partners Inc. acquired a new stake in Tilray Brands during the second quarter worth approximately $939,000. Finally, Bank of America Corp DE grew its position in Tilray Brands by 26.5% during the second quarter. Bank of America Corp DE now owns 311,810 shares of the company's stock worth $129,000 after buying an additional 65,379 shares in the last quarter. Institutional investors and hedge funds own 9.35% of the company's stock.

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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