Tilray Brands (NASDAQ:TLRY) Stock Price Up 2.3% - What's Next?

Key Points

• Tlry (TLRY) rose 2.3% Monday to last trade at $6.72 (intraday high $6.78) on roughly 2.84M shares, about 21% below its average daily volume.
• Analyst sentiment is mixed with a consensus rating of "Hold" and a consensus price target of $11.50 (3 Buys, 4 Holds, 1 Sell).
• Tilray reported a Q result of ($0.24) EPS, missing estimates by $0.10 while revenue beat at $206.7M; the company remains unprofitable with a negative net margin of 156.51% and a market cap of about $783M.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s stock price rose 2.3% on Monday . The stock traded as high as $6.78 and last traded at $6.72. Approximately 2,839,193 shares were traded during trading, a decline of 21% from the average daily volume of 3,613,000 shares. The stock had previously closed at $6.57.

Wall Street Analyst Weigh In

TLRY has been the topic of several research analyst reports. Canaccord Genuity Group initiated coverage on shares of Tilray Brands in a research report on Tuesday, January 27th. They set a "hold" rating on the stock. ATB Cormark Capital Markets dropped their target price on shares of 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 shares of 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, April 2nd. Weiss Ratings reissued a "sell (d-)" rating on shares of Tilray Brands in a research report on Wednesday, January 21st. Finally, Zacks Research raised shares of Tilray Brands from a "strong sell" rating to a "hold" rating in a research report on Wednesday, February 11th. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Tilray Brands presently has a consensus rating of "Hold" and a consensus price target of $11.50.

Tilray Brands Stock Performance

The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.66 and a current ratio of 2.79. The firm's 50 day simple moving average is $7.13 and its 200 day simple moving average is $9.96. The firm has a market capitalization of $783.22 million, a price-to-earnings ratio of -0.49 and a beta of 2.00.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $206.73 million for the quarter, compared to analyst estimates of $201.35 million. During the same quarter in the previous year, the firm posted ($0.87) earnings per share. Sell-side analysts forecast that Tilray Brands, Inc. will post -0.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tilray Brands

Several large investors have recently made changes to their positions in TLRY. Tidal Investments LLC lifted its stake in shares of 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 purchasing an additional 3,776,410 shares during the period. Millennium Management LLC lifted its stake in shares of Tilray Brands by 281.0% in the 3rd quarter. Millennium Management LLC now owns 4,942,319 shares of the company's stock valued at $8,550,000 after purchasing an additional 3,645,060 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Tilray Brands in the 3rd quarter valued at $5,813,000. Ausdal Financial Partners Inc. acquired a new position in shares of Tilray Brands in the 2nd quarter valued at $939,000. Finally, Scientech Research LLC acquired a new position in shares of Tilray Brands in the 3rd quarter valued at $1,748,000. 9.35% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.