Tilray Brands (NASDAQ:TLRY) Trading Up 5.4% - Here's Why

Key Points

• Tilray Brands shares increased by 5.4%, trading at $0.61, despite a significant decline in trading volume, down 60% from the average.
• Analyst ratings for Tilray Brands include a "neutral" rating from Zelman & Associates and a downgrade to "strong sell" by Wall Street Zen, with a consensus rating of "Hold" and an average target price of $1.92.
• Institutional investors are actively buying Tilray shares, with significant increases in positions from firms like JPMorgan Chase and WINTON GROUP Ltd during the fourth quarter.

Shares of Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) shot up 5.4% during trading on Wednesday . The stock traded as high as $0.61 and last traded at $0.61. 14,243,411 shares traded hands during trading, a decline of 60% from the average session volume of 35,812,805 shares. The stock had previously closed at $0.58.

Analyst Upgrades and Downgrades

Several research firms have commented on TLRY. Zelman & Associates reissued a "neutral" rating on shares of Tilray Brands in a research report on Tuesday. Piper Sandler decreased their price target on shares of Tilray Brands from $2.00 to $1.00 and set a "neutral" rating for the company in a research report on Wednesday, April 9th. Wall Street Zen downgraded shares of Tilray Brands to a "strong sell" rating in a report on Saturday, July 5th. Finally, Roth Capital restated a "neutral" rating on shares of Tilray Brands in a report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $1.92.

Tilray Brands Stock Up 5.6%

The business has a fifty day simple moving average of $0.50 and a two-hundred day simple moving average of $0.64. 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 company has a market cap of $612.96 million, a PE ratio of -0.26 and a beta of 1.82.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.05. Tilray Brands had a negative return on equity of 5.91% and a negative net margin of 265.69%. The business had revenue of $224.54 million for the quarter, compared to analyst estimates of $250.41 million. As a group, equities research analysts predict that Tilray Brands, Inc. will post -0.2 earnings per share for the current year.

Hedge Funds Weigh In On Tilray Brands

Several institutional investors have recently bought and sold shares of TLRY. Raymond James Financial Inc. acquired a new position in shares of Tilray Brands during the fourth quarter worth about $255,000. Teacher Retirement System of Texas acquired a new position in shares of Tilray Brands during the fourth quarter worth about $211,000. WINTON GROUP Ltd grew its position in shares of Tilray Brands by 46.4% during the fourth quarter. WINTON GROUP Ltd now owns 88,401 shares of the company's stock worth $118,000 after buying an additional 28,008 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Tilray Brands by 112.7% during the fourth quarter. JPMorgan Chase & Co. now owns 919,082 shares of the company's stock worth $1,222,000 after buying an additional 487,051 shares in the last quarter. Finally, OLD Mission Capital LLC grew its position in shares of Tilray Brands by 23.0% during the fourth quarter. OLD Mission Capital LLC now owns 205,164 shares of the company's stock worth $273,000 after buying an additional 38,305 shares in the last quarter. 9.35% of the stock is owned by institutional investors and hedge funds.

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.

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