Tilray Brands (NASDAQ:TLRY) Trading 2.1% Higher - Should You Buy?

Key Points

• Tilray Brands' stock price increased by 2.1% during mid-day trading, reaching a last traded price of $1.48, with over 53 million shares traded.
• Analyst ratings for Tilray Brands are mixed: while Jefferies Financial Group maintains a "buy" rating with a target price of $2.00, Atb Cap Markets downgraded the stock to a "strong sell."
• In its recent earnings report, Tilray Brands beat expectations with $0.00 EPS and revenue of $209.50 million, surpassing the analysts' forecasts.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s stock price traded up 2.1% during mid-day trading on Thursday . The company traded as high as $1.54 and last traded at $1.48. 53,503,846 shares were traded during trading, an increase of 7% from the average session volume of 50,026,813 shares. The stock had previously closed at $1.45.

Wall Street Analyst Weigh In

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

Tilray Brands Trading Up 2.1%

The company has a quick ratio of 1.56, a current ratio of 2.62 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $1.66 billion, a P/E ratio of -0.65 and a beta of 1.98. The firm has a 50 day moving average of $1.37 and a 200-day moving average of $0.81.

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

Insiders Place Their Bets

In other Tilray Brands news, CEO Irwin D. Simon bought 165,000 shares of the business's stock in a transaction on Wednesday, July 30th. The stock was purchased at an average cost of $0.61 per share, for a total transaction of $100,650.00. Following the completion of the purchase, the chief executive officer directly 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 acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.84% of the stock is owned by insiders.

Institutional Investors Weigh In On Tilray Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in TLRY. Brighton Jones LLC increased its holdings in Tilray Brands by 28.3% in the third quarter. Brighton Jones LLC now owns 59,510 shares of the company's stock valued at $103,000 after purchasing an additional 13,137 shares during the period. Silver Oak Securities Incorporated acquired a new stake in Tilray Brands in the third quarter valued at $34,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Tilray Brands in the third quarter valued at $36,000. Petros Family Wealth LLC acquired a new stake in Tilray Brands in the third quarter valued at $38,000. Finally, SBI Securities Co. Ltd. increased its holdings in Tilray Brands by 8.8% in the second quarter. SBI Securities Co. Ltd. now owns 300,707 shares of the company's stock valued at $125,000 after purchasing an additional 24,375 shares during the period. 9.35% of the stock is currently owned by institutional investors.

Tilray Brands Company Profile

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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