Tilray Brands (NASDAQ:TLRY) Trading Up 1% - Should You Buy?

Key Points

• Tilray reported Q results showing ($0.24) EPS, missing estimates by $0.10, with a negative net margin of 156.51% and revenue of $206.7M (slightly above consensus).
• Analyst coverage is mixed but averages a "Hold" rating with a consensus target price of $11.50 (3 Buys, 4 Holds, 1 Sell, with recent upgrades and a TD Cowen price cut to $7).
• Shares traded up about 1% (range to $7.17, last $6.86) on volume just below average; Tilray has a market cap of roughly $799.5M, a 50‑day SMA of $7.08 and a 200‑day SMA of $9.85.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) shares rose 1% during trading on Friday . The stock traded as high as $7.17 and last traded at $6.86. Approximately 3,517,278 shares were traded during mid-day trading, a decline of 2% from the average daily volume of 3,573,382 shares. The stock had previously closed at $6.79.

Analyst Ratings Changes

TLRY has been the subject of several research analyst reports. Wall Street Zen upgraded shares of Tilray Brands from a "sell" rating to a "hold" rating in a report on Saturday, March 21st. Roth Mkm upgraded shares of Tilray Brands from a "neutral" rating to a "buy" rating and set a $10.00 price objective for the company in a report on Thursday, April 2nd. TD Cowen lowered their price objective on shares of Tilray Brands from $10.00 to $7.00 and set a "buy" rating for the company in a report on Monday, March 30th. Weiss Ratings restated a "sell (d-)" rating on shares of Tilray Brands in a report on Wednesday, January 21st. Finally, Canaccord Genuity Group initiated coverage on shares of Tilray Brands in a report on Tuesday, January 27th. They issued a "hold" rating for the company. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Tilray Brands currently has an average rating of "Hold" and a consensus target price of $11.50.

Tilray Brands Stock Up 1.0%

The stock's 50 day simple moving average is $7.08 and its two-hundred day simple moving average is $9.85. The firm has a market cap of $799.53 million, a P/E ratio of -0.50 and a beta of 2.00. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.79 and a quick ratio of 1.66.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last announced its earnings results on Wednesday, April 1st. The company reported ($0.24) earnings per share for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.10). Tilray Brands had a negative net margin of 156.51% and a negative return on equity of 3.31%. The business had revenue of $206.73 million for the quarter, compared to the consensus estimate of $201.35 million. During the same period in the prior year, the business posted ($0.87) EPS. As a group, research analysts forecast that Tilray Brands, Inc. will post -0.2 earnings per share for the current year.

Hedge Funds Weigh In On Tilray Brands

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Alpine Global Management LLC bought a new position in shares of Tilray Brands during the fourth quarter valued at approximately $169,000. Voloridge Investment Management LLC bought a new position in shares of Tilray Brands during the fourth quarter valued at approximately $824,000. Polymer Capital Management US LLC bought a new position in shares of Tilray Brands during the fourth quarter valued at approximately $1,058,000. Engineers Gate Manager LP bought a new position in shares of Tilray Brands during the fourth quarter valued at approximately $126,000. Finally, Schonfeld Strategic Advisors LLC increased its stake in shares of Tilray Brands by 4.5% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 144,358 shares of the company's stock valued at $1,304,000 after purchasing an additional 6,182 shares in the last quarter. Institutional investors own 9.35% of the company's stock.

About Tilray Brands

Tilray Brands, Inc is a global cannabis-lifestyle and consumer packaged goods company engaged in the cultivation, production, distribution and sale of cannabis and cannabinoid-based products. The company develops and markets a diverse portfolio of branded products spanning medical cannabis, adult-use recreational products and wellness offerings. Through state-of-the-art cultivation facilities, research and development efforts, and quality control systems, Tilray Brands aims to deliver consistent, scalable products for a range of patient and consumer needs.

Tilray's product lineup includes cannabis flower, pre-rolls, oils and tinctures, vapes, edibles and topicals, as well as hemp-derived cannabidiol (CBD) products.

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