Tilray Brands (NASDAQ:TLRY) Stock Price Up 4.1% - Still a Buy?

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s stock price shot up 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 trading, a decline of 84% from the average session volume of 29,572,717 shares. The stock had previously closed at $0.42.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Roth Capital restated a "neutral" rating on shares of Tilray Brands in a research note on Monday, April 14th. Piper Sandler dropped their price objective on 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 Stock Up 9.4%

The stock has a market capitalization of $534.45 million, a P/E ratio of -0.51 and a beta of 1.82. The company has a current ratio of 2.62, a quick ratio of 1.61 and a debt-to-equity ratio of 0.12. The firm's fifty 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 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). The business had revenue of $185.78 million during the quarter, compared to analyst estimates of $213.38 million. Tilray Brands had a negative return on equity of 7.40% and a negative net margin of 113.85%. As a group, equities research 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 stock. AQR Capital Management LLC boosted its holdings in Tilray Brands by 1,839.7% during the first quarter. AQR Capital Management LLC now owns 607,054 shares of the company's stock worth $399,000 after buying an additional 575,757 shares during the last quarter. State of Wyoming raised its position in shares of Tilray Brands by 133.0% in the 1st quarter. State of Wyoming now owns 241,165 shares of the company's stock valued at $159,000 after acquiring an additional 137,676 shares during the period. Zuckerman Investment Group LLC bought a new position in Tilray Brands during the 1st quarter worth approximately $33,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Tilray Brands by 30.4% in the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 527,995 shares of the company's stock valued at $345,000 after buying an additional 122,969 shares during the period. Finally, Fifth Lane Capital LP raised its stake in 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 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.