Tilray Brands (NASDAQ:TLRY) Trading 4% Higher - Should You Buy?

Shares of Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) traded up 4% on Tuesday . The stock traded as high as $0.39 and last traded at $0.38. 9,138,419 shares changed hands 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

Several research analysts have recently weighed in on the company. Piper Sandler reduced their target price on Tilray Brands from $2.00 to $1.00 and set a "neutral" rating for the company in a research note on Wednesday, April 9th. Roth Capital reiterated a "neutral" rating on shares of Tilray Brands in a research report on Monday, April 14th.

Tilray Brands Price Performance

The company has a quick ratio of 1.61, a current ratio of 2.62 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $382.27 million, a PE ratio of -0.36 and a beta of 1.83. The company has a 50-day moving average of $0.44 and a 200 day moving average of $0.78.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last issued 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. Sell-side analysts predict that Tilray Brands, Inc. will post -0.2 EPS for the current year.

Institutional Trading of Tilray Brands

Large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its holdings in Tilray Brands by 54.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company's stock valued at $2,890,000 after buying an additional 769,569 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Tilray Brands by 112.7% during the 4th quarter. JPMorgan Chase & Co. now owns 919,082 shares of the company's stock worth $1,222,000 after purchasing an additional 487,051 shares during the period. Millennium Management LLC purchased a new position in shares of Tilray Brands during the 4th quarter worth $879,000. Raymond James Financial Inc. purchased a new position in shares of Tilray Brands during the 4th quarter worth $255,000. Finally, Atria Wealth Solutions Inc. grew its holdings in shares of Tilray Brands by 174.7% during the 4th quarter. Atria Wealth Solutions Inc. now owns 84,516 shares of the company's stock worth $112,000 after purchasing an additional 53,751 shares during the period. 9.35% of the stock is currently owned by hedge funds and other institutional investors.

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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