Tilray Brands (NASDAQ:TLRY) Stock Price Up 3.9% - Should You Buy?

Key Points

• Tilray Brands shares rose 3.9% to $4.03 in Monday trading, although volume was 15% below the stock’s average daily level.
• Analyst sentiment is mixed: three analysts rate the stock Buy, four Hold and one Sell. The consensus rating is Hold, with an $11.00 price target, while recent target changes ranged from $5.00 to $10.00.
• The stock trades below its 50-day and 200-day moving averages, at $4.79 and $6.41 respectively. Tilray has a $469.7 million market capitalization, low leverage with a 0.19 debt-to-equity ratio, and institutional investors own 9.35% of its shares.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s share price rose 3.9% on Monday . The stock traded as high as $4.08 and last traded at $4.03. 3,577,522 shares traded hands during mid-day trading, a decline of 15% from the average daily volume of 4,208,949 shares. The stock had previously closed at $3.88.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. ATB Cormark Capital Markets dropped their price target on Tilray Brands from $9.50 to $9.00 and set a "sector perform" rating on the stock in a research note on Thursday, April 2nd. TD Cowen reduced their price objective on Tilray Brands from $7.00 to $5.00 and set a "buy" rating for the company in a research note on Tuesday, July 14th. Weiss Ratings downgraded Tilray Brands from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, May 13th. Finally, Roth Capital raised 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. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $11.00.

Tilray Brands Trading Up 3.9%

The business's 50 day simple moving average is $4.79 and its 200 day simple moving average is $6.41. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.79 and a quick ratio of 1.66. The company has a market capitalization of $469.70 million, a price-to-earnings ratio of -0.30 and a beta of 1.89.

Hedge Funds Weigh In On Tilray Brands

Several institutional investors have recently added to or reduced their stakes in the stock. Hilton Head Capital Partners LLC purchased a new stake in Tilray Brands during the 4th quarter valued at approximately $38,000. Pictet Asset Management Holding SA grew its stake in shares of Tilray Brands by 38.9% in the 1st quarter. Pictet Asset Management Holding SA now owns 18,387 shares of the company's stock valued at $119,000 after purchasing an additional 5,145 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its stake in shares of Tilray Brands by 4.5% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 144,358 shares of the company's stock valued at $1,304,000 after purchasing an additional 6,182 shares during the last quarter. Baader Bank Aktiengesellschaft increased its holdings in shares of Tilray Brands by 17.7% in the first quarter. Baader Bank Aktiengesellschaft now owns 47,938 shares of the company's stock valued at $293,000 after purchasing an additional 7,226 shares during the period. Finally, IFP Advisors Inc increased its holdings in shares of Tilray Brands by 14.3% in the fourth quarter. IFP Advisors Inc now owns 60,318 shares of the company's stock valued at $545,000 after purchasing an additional 7,541 shares during the period. 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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