Tilray Brands (NASDAQ:TLRY) Stock Price Up 2.2% Following Analyst Upgrade

Key Points

• Tilray Brands shares rose 2.2% to $4.64 after TD Securities upgraded the stock to a strong-buy rating; trading volume was 37% above average.
• Analyst sentiment remains mixed but averages to a “Moderate Buy”, with a consensus price target of $11.00. Ratings range from strong buy to sell.
• Tilray reported a quarterly revenue beat at $281.71 million but missed earnings expectations significantly, posting a loss of $0.43 per share versus the estimated $0.01 loss.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s stock price shot up 2.2% on Monday after TD Securities upgraded the stock to a strong-buy rating. The stock traded as high as $4.94 and last traded at $4.64. 5,941,671 shares were traded during trading, an increase of 37% from the average session volume of 4,324,794 shares. The stock had previously closed at $4.54.

TLRY has been the topic of a number of other reports. Wall Street Zen lowered shares of Tilray Brands from a "hold" rating to a "sell" rating in a report on Saturday. ATB Cormark Capital Markets dropped their price target on shares of 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. TD Cowen cut their price target on shares of Tilray Brands from $7.00 to $5.00 and set a "buy" rating on the stock in a report on Tuesday, July 14th. Weiss Ratings cut shares of Tilray Brands from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday, May 13th. Finally, Roth Capital upgraded Tilray Brands from a "neutral" rating to a "buy" rating and set a $10.00 price objective for the company in a report on Thursday, April 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Tilray Brands currently has an average rating of "Moderate Buy" and a consensus price target of $11.00.

Institutional Trading of Tilray Brands

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TLRY. AQR Capital Management LLC boosted its stake in shares of Tilray Brands by 1,839.7% in the 1st 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 shares of Tilray Brands during the second quarter worth $112,000. Cerity Partners LLC raised its stake 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 during the last quarter. Ausdal Financial Partners Inc. bought a new position in Tilray Brands during the second quarter worth $939,000. Finally, Bank of America Corp DE lifted its holdings in Tilray Brands by 26.5% in the second quarter. Bank of America Corp DE now owns 311,810 shares of the company's stock valued at $129,000 after buying an additional 65,379 shares during the period. Institutional investors and hedge funds own 9.35% of the company's stock.

Tilray Brands Trading Up 2.2%

The company has a debt-to-equity ratio of 0.22, a current ratio of 2.21 and a quick ratio of 1.37. The firm has a market cap of $540.79 million, a price-to-earnings ratio of -4.30 and a beta of 1.90. The firm's fifty day moving average is $4.67 and its 200-day moving average is $6.24.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The company reported ($0.43) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.42). The business had revenue of $281.71 million for the quarter, compared to analyst estimates of $246.30 million. Tilray Brands had a negative return on equity of 7.76% and a negative net margin of 13.11%. Equities analysts anticipate that Tilray Brands, Inc. will post -0.34 earnings per share for the current year.

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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