Tilray Brands (NASDAQ:TLRY) Trading 1.3% Higher - Should You Buy?

Key Points

• Tilray Brands' stocks increased by 1.3%, with shares trading as high as $1.57 following a significant volume surge of 67.57 million shares.
• Wall Street analysts have mixed opinions, with two analysts rating the stock as a Buy and four giving it Hold or Sell ratings, leading to an average rating of "Hold" and a consensus target price of $2.00.
• In its latest earnings report, Tilray Brands surpassed earnings expectations, reporting $0.00 EPS compared to a consensus estimate of ($0.03) and generating $209.50 million in revenue.

Shares of Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) traded up 1.3% on Friday . The stock traded as high as $1.57 and last traded at $1.56. 67,570,656 shares traded hands during mid-day trading, an increase of 36% from the average session volume of 49,735,516 shares. The stock had previously closed at $1.54.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Atb Cap Markets lowered Tilray Brands from a "hold" rating to a "strong sell" rating in a research report on Thursday, October 9th. Jefferies Financial Group lifted their price objective on Tilray Brands from $1.50 to $2.00 and gave the stock a "buy" rating in a research report on Monday, August 25th. Zelman & Associates reissued a "neutral" rating on shares of Tilray Brands in a research report on Tuesday, July 29th. Wall Street Zen upgraded Tilray Brands from a "strong sell" rating to a "hold" rating in a research note on Saturday, October 11th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Tilray Brands in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $2.00.

Tilray Brands Price Performance

The firm has a market cap of $1.72 billion, a price-to-earnings ratio of -0.69 and a beta of 1.98. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.56 and a current ratio of 2.62. The business has a 50 day simple moving average of $1.32 and a 200-day simple moving average of $0.78.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last released its quarterly earnings results on Thursday, October 9th. The company reported $0.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.03) by $0.03. The business had revenue of $209.50 million during the quarter, compared to the consensus estimate of $205.75 million. Tilray Brands had a negative return on equity of 6.79% and a negative net margin of 258.54%. Equities research analysts expect that Tilray Brands, Inc. will post -0.2 earnings per share for the current year.

Insider Transactions at Tilray Brands

In related news, CEO Irwin D. Simon purchased 165,000 shares of the business's stock in a transaction on Wednesday, July 30th. The stock was acquired at an average price of $0.61 per share, for a total transaction of $100,650.00. Following the purchase, the chief executive officer owned 3,941,633 shares of the company's stock, valued at approximately $2,404,396.13. This trade represents a 4.37% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.84% of the company's stock.

Hedge Funds Weigh In On Tilray Brands

Several hedge funds have recently modified their holdings of TLRY. J.W. Cole Advisors Inc. lifted its position in shares of Tilray Brands by 203.2% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 71,890 shares of the company's stock worth $30,000 after buying an additional 48,177 shares in the last quarter. Cerity Partners LLC bought a new position in shares of Tilray Brands during the 1st quarter worth approximately $31,000. Capital Management Associates Inc lifted its position in shares of Tilray Brands by 100.0% during the 1st quarter. Capital Management Associates Inc now owns 50,760 shares of the company's stock worth $33,000 after buying an additional 25,380 shares in the last quarter. Fifth Lane Capital LP lifted its position in shares of Tilray Brands by 400.0% during the 1st quarter. Fifth Lane Capital LP now owns 50,000 shares of the company's stock worth $33,000 after buying an additional 40,000 shares in the last quarter. Finally, Zuckerman Investment Group LLC bought a new position in shares of Tilray Brands during the 1st quarter worth approximately $33,000. Institutional investors own 9.35% of the company's stock.

About Tilray Brands

Tilray, Inc engages in the research, cultivation, processing, and distribution of medical cannabis. The company offers its products in Argentina, Australia, Canada, Chile, Croatia, Cyprus, the Czech Republic, Germany, New Zealand, and South Africa. Tilray, Inc is headquartered in Canada.

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