Tilray Brands (NASDAQ:TLRY) Trading Up 8.1% - Time to Buy?

Key Points

• Tilray shares climbed 8.1% to $4.54 in heavy trading, with volume 46% above the average session level.
• Analyst sentiment remains mixed: the consensus rating is Hold with an $11.00 price target, although recent targets and ratings ranged from Sell to Buy.
• Tilray’s latest quarter showed a sharp EPS miss, reporting a loss of $0.43 per share versus expectations of $0.01, despite revenue of $281.71 million exceeding estimates.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) shares rose 8.1% during mid-day trading on Friday . The company traded as high as $4.56 and last traded at $4.54. Approximately 6,278,281 shares traded hands during trading, an increase of 46% from the average session volume of 4,310,874 shares. The stock had previously closed at $4.20.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TLRY shares. Weiss Ratings downgraded shares of Tilray Brands from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, May 13th. TD Cowen cut their price objective on Tilray Brands from $7.00 to $5.00 and set a "buy" rating for the company in a research report on Tuesday, July 14th. Roth Capital raised Tilray Brands from a "neutral" rating to a "buy" rating and set a $10.00 target price on the stock in a research note on Thursday, April 2nd. Finally, ATB Cormark Capital Markets reduced their target price on Tilray Brands from $9.50 to $9.00 and set a "sector perform" rating on the stock in a research note on Thursday, April 2nd. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $11.00.

Tilray Brands Stock Up 8.1%

The company has a quick ratio of 1.66, a current ratio of 2.21 and a debt-to-equity ratio of 0.22. The firm has a market cap of $529.14 million, a PE ratio of -4.20 and a beta of 1.89. The firm's 50 day moving average is $4.69 and its 200-day moving average is $6.27.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last announced its earnings results on Tuesday, July 28th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.42). The firm had revenue of $281.71 million for the quarter, compared to analyst estimates of $246.30 million. Tilray Brands had a negative return on equity of 7.76% and a negative net margin of 13.11%. As a group, equities research analysts expect that Tilray Brands, Inc. will post -0.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tilray Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Hilton Head Capital Partners LLC purchased a new position in Tilray Brands during the fourth quarter worth about $38,000. Essential Partners LLC boosted its stake in Tilray Brands by 110,137.5% in the 1st quarter. Essential Partners LLC now owns 8,819 shares of the company's stock worth $57,000 after buying an additional 8,811 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in Tilray Brands in the 4th quarter valued at about $126,000. R Squared Ltd purchased a new stake in Tilray Brands in the 1st quarter valued at about $94,000. Finally, Apollon Wealth Management LLC acquired a new position in shares of Tilray Brands during the 1st quarter valued at about $96,000. Hedge funds and other institutional investors own 9.35% of the company's stock.

Tilray Brands Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.