Tilray Brands (NASDAQ:TLRY) Stock Price Up 1.7% - Time to Buy?

Key Points

• Tilray Brands stock rose 1.7% to $6.66 (intraday high $6.95) on Monday with about 3.54M shares traded, slightly below its average daily volume.
• Analysts are mixed: the consensus rating is "Hold" with an average price target of $11.20, while individual actions include TD Cowen cutting its target to $7 and a split of three Buys, five Holds and one Sell.
• The most recent quarter missed EPS (‑$0.24 vs. estimate ‑$0.14) despite revenue beating estimates, and the company remains unprofitable with a large negative net margin and negative return on equity.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s stock price rose 1.7% during trading on Monday . The company traded as high as $6.95 and last traded at $6.66. Approximately 3,539,302 shares traded hands during mid-day trading, a decline of 4% from the average daily volume of 3,698,114 shares. The stock had previously closed at $6.55.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. TD Cowen decreased their target price on shares of Tilray Brands from $10.00 to $7.00 and set a "buy" rating on the stock in a research report on Monday, March 30th. ATB Cormark Capital Markets reduced their price objective on Tilray Brands from $9.50 to $9.00 and set a "sector perform" rating on the stock in a research note on Thursday. Canaccord Genuity Group started coverage on Tilray Brands in a research report on Tuesday, January 27th. They set a "hold" rating on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Tilray Brands in a report on Wednesday, January 21st. Finally, Roth Mkm raised Tilray Brands from a "neutral" rating to a "buy" rating and set a $10.00 target price on the stock in a research report on Thursday. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $11.20.

Tilray Brands Stock Up 1.7%

The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.72 and a current ratio of 2.79. The company's fifty day moving average price is $7.27 and its 200-day moving average price is $10.16. The stock has a market cap of $775.96 million, a P/E ratio of -0.49 and a beta of 2.00.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last issued its quarterly 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). The firm had revenue of $206.73 million for the quarter, compared to the consensus estimate of $201.35 million. Tilray Brands had a negative net margin of 156.51% and a negative return on equity of 3.31%. During the same quarter in the previous year, the company posted ($0.87) earnings per share. Equities analysts forecast that Tilray Brands, Inc. will post -0.2 EPS for the current year.

Institutional Investors Weigh In On Tilray Brands

A number of institutional investors and hedge funds have recently modified their holdings of TLRY. 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 valued at $12,006,000 after acquiring an additional 3,776,410 shares during the last quarter. Millennium Management LLC lifted its position 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 worth $8,550,000 after purchasing an additional 3,645,060 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Tilray Brands during the third quarter valued at $5,813,000. Ausdal Financial Partners Inc. purchased a new stake in shares of Tilray Brands during the second quarter valued at $939,000. Finally, Scientech Research LLC bought a new position in shares of Tilray Brands in the third quarter worth about $1,748,000. 9.35% of the stock is 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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