Tilray Brands (NASDAQ:TLRY) Upgraded at Zacks Research

Zacks Research upgraded shares of Tilray Brands (NASDAQ:TLRY) from a strong sell rating to a hold rating in a research note published on Wednesday morning,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the company. Canaccord Genuity Group started coverage on Tilray Brands in a research note on Tuesday, January 27th. They set a “hold” rating for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Tilray Brands in a report on Wednesday, January 21st. Roth Mkm lowered their price objective on shares of Tilray Brands from $20.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, January 20th. Finally, ATB Cormark Capital Markets upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 10th. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $13.33.

Tilray Brands Price Performance

Shares of NASDAQ TLRY opened at $7.51 on Wednesday. The company has a market capitalization of $874.99 million, a PE ratio of -0.34 and a beta of 2.02. The company has a quick ratio of 1.72, a current ratio of 2.81 and a debt-to-equity ratio of 0.19. Tilray Brands has a twelve month low of $3.51 and a twelve month high of $23.20. The firm has a fifty day simple moving average of $9.13 and a 200 day simple moving average of $10.99.

Tilray Brands (NASDAQ:TLRY) last issued its quarterly earnings results on Thursday, January 8th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.27). Tilray Brands had a negative net margin of 251.69% and a negative return on equity of 6.35%. The firm had revenue of $217.51 million for the quarter, compared to the consensus estimate of $211.15 million. During the same period last year, the company posted ($0.03) EPS. On average, sell-side analysts forecast that Tilray Brands will post -0.2 EPS for the current year.

Institutional Trading of Tilray Brands

A number of hedge funds and other institutional investors have recently bought and sold shares of TLRY. Hilton Head Capital Partners LLC purchased a new stake in shares of Tilray Brands in the fourth quarter worth $38,000. IFP Advisors Inc grew its position in Tilray Brands by 14.3% during the fourth quarter. IFP Advisors Inc now owns 60,318 shares of the company’s stock worth $545,000 after buying an additional 7,541 shares in the last quarter. Integrated Wealth Concepts LLC increased its stake in Tilray Brands by 33.8% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 36,977 shares of the company’s stock worth $64,000 after acquiring an additional 9,341 shares during the last quarter. CreativeOne Wealth LLC raised its holdings in shares of Tilray Brands by 12.2% in the 3rd quarter. CreativeOne Wealth LLC now owns 87,134 shares of the company’s stock valued at $151,000 after acquiring an additional 9,452 shares in the last quarter. Finally, Dudley Capital Management LLC raised its holdings in shares of Tilray Brands by 73.3% in the 3rd quarter. Dudley Capital Management LLC now owns 26,000 shares of the company’s stock valued at $45,000 after acquiring an additional 11,000 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.