Tilray Brands (NASDAQ:TLRY) Trading 4% Higher - Time to Buy?

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s share price shot up 4% during mid-day trading on Tuesday . The company traded as high as $0.39 and last traded at $0.38. 9,138,419 shares were traded during trading, a decline of 69% from the average session volume of 29,460,105 shares. The stock had previously closed at $0.36.

Analyst Ratings Changes

TLRY has been the topic of several research reports. Roth Capital reissued a "neutral" rating on shares of Tilray Brands in a research note on Monday, April 14th. Piper Sandler decreased their target price on shares of Tilray Brands from $2.00 to $1.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 9th.

Tilray Brands Price Performance

The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.61 and a current ratio of 2.62. The stock's 50-day moving average is $0.43 and its two-hundred day moving average is $0.76. The stock has a market cap of $403.61 million, a PE ratio of -0.38 and a beta of 1.83.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last released its quarterly earnings results on Tuesday, April 8th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.06). Tilray Brands had a negative return on equity of 7.40% and a negative net margin of 113.85%. The firm had revenue of $185.78 million for the quarter, compared to analysts' expectations of $213.38 million. On average, equities analysts predict that Tilray Brands, Inc. will post -0.2 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Lido Advisors LLC acquired a new position in Tilray Brands during the 4th quarter worth $28,000. Verdence Capital Advisors LLC purchased a new stake in shares of Tilray Brands during the fourth quarter worth approximately $29,000. Dudley Capital Management LLC purchased a new stake in shares of Tilray Brands during the fourth quarter worth approximately $29,000. Cerity Partners LLC acquired a new stake in Tilray Brands in the first quarter valued at approximately $31,000. Finally, Capital Management Associates Inc grew its holdings in 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 acquiring an additional 25,380 shares in the last quarter. Hedge funds and other institutional investors own 9.35% of the company's stock.

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.