Tilray Brands (NASDAQ:TLRY) Trading 4.1% Higher - What's Next?

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) rose 4.1% during mid-day trading on Wednesday . The stock traded as high as $0.43 and last traded at $0.44. Approximately 4,801,132 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 29,572,717 shares. The stock had previously closed at $0.42.

Analysts Set New Price Targets

TLRY has been the topic of several recent research reports. Wall Street Zen downgraded shares of Tilray Brands to a "strong sell" rating in a report on Saturday. Piper Sandler reduced their price target on shares of Tilray Brands from $2.00 to $1.00 and set a "neutral" rating on the stock in a report on Wednesday, April 9th. Finally, Roth Capital reaffirmed a "neutral" rating on shares of Tilray Brands in a report on Monday, April 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, Tilray Brands presently has a consensus rating of "Hold" and an average target price of $1.92.

Tilray Brands Stock Up 9.4%

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 firm has a market cap of $534.45 million, a PE ratio of -0.51 and a beta of 1.82. The firm's 50 day moving average is $0.43 and its 200-day moving average is $0.73.

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

Hedge Funds Weigh In On Tilray Brands

Several institutional investors and hedge funds have recently modified their holdings of the company. Tidal Investments LLC lifted its stake in shares of Tilray Brands by 9.2% during the fourth quarter. Tidal Investments LLC now owns 10,595,264 shares of the company's stock valued at $14,092,000 after buying an additional 889,086 shares during the period. Bank of Montreal Can raised its stake in Tilray Brands by 14.4% during the fourth quarter. Bank of Montreal Can now owns 2,488,982 shares of the company's stock worth $3,310,000 after purchasing an additional 312,476 shares during the period. Geode Capital Management LLC raised its stake in Tilray Brands by 20.1% during the fourth quarter. Geode Capital Management LLC now owns 2,405,911 shares of the company's stock worth $3,200,000 after purchasing an additional 403,371 shares during the period. Dimensional Fund Advisors LP raised its stake in Tilray Brands by 54.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company's stock worth $2,890,000 after purchasing an additional 769,569 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Tilray Brands by 17.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,964,380 shares of the company's stock worth $2,613,000 after purchasing an additional 286,481 shares during the period. 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.