Tilray Brands (NASDAQ:TLRY) Stock Price Down 2.8% – What’s Next?
by Doug Wharley · The Cerbat GemTilray Brands, Inc. (NASDAQ:TLRY – Get Free Report)’s share price dropped 2.8% during trading on Thursday . The company traded as low as $4.41 and last traded at $4.46. 3,552,062 shares were traded during trading, a decline of 17% from the average daily volume of 4,289,494 shares. The stock had previously closed at $4.59.
Tilray Brands News Roundup
Here are the key news stories impacting Tilray Brands this week:
- Positive Sentiment: Tilray Medical said it is expanding access to medical cannabis for veterans through its Lyphe Clinic at Aldershot’s Armed Forces Weekend in the UK, supporting its regulated medical cannabis strategy and reinforcing the benefits of its Lyphe Group acquisition. Article Title
- Positive Sentiment: Breckenridge Distillery, a Tilray subsidiary, won top honors at the San Francisco World Spirits Competition, with Rum Cask Finish earning the highest award and Honey Whiskey taking gold, which may support Tilray’s premium beverage portfolio and brand strength. Article Title
- Positive Sentiment: Tilray-linked craft beer brands BrewDog and Montauk Brewing are continuing community and product launches, including BrewDog Inverurie’s reopening and Montauk’s anniversary celebration and limited beer release, which may help maintain consumer engagement across Tilray’s beverage segment. Article Title
- Neutral Sentiment: A recent market recap noted Tilray’s shares fell more than the broader market in the prior session, reflecting ongoing investor caution around the stock. Article Title
- Negative Sentiment: Investor sentiment may also be weighed by the broader report that Tilray has seen fresh short-interest activity, which can signal continued skepticism about the stock’s near-term outlook.
Analyst Upgrades and Downgrades
TLRY has been the topic of several analyst reports. TD Cowen reduced their price target on Tilray Brands from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Monday, March 30th. Wall Street Zen upgraded shares of Tilray Brands from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Roth Mkm raised shares of 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. ATB Cormark Capital Markets dropped their price target on shares of Tilray Brands from $9.50 to $9.00 and set a “sector perform” rating for the company in a research note on Thursday, April 2nd. Finally, Weiss Ratings downgraded shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 13th. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Tilray Brands has an average rating of “Hold” and an average price target of $11.50.
Read Our Latest Analysis on TLRY
Tilray Brands Stock Up 4.0%
The business has a 50-day moving average price of $5.55 and a two-hundred day moving average price of $7.24. The company has a quick ratio of 1.66, a current ratio of 2.79 and a debt-to-equity ratio of 0.19. The firm has a market cap of $540.79 million, a PE ratio of -0.34 and a beta of 1.88.
Tilray Brands (NASDAQ:TLRY – Get Free Report) last issued its quarterly earnings results on Wednesday, April 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.10). Tilray Brands had a negative return on equity of 3.31% and a negative net margin of 156.51%.The firm had revenue of $206.73 million during the quarter, compared to analysts’ expectations of $201.35 million. During the same quarter in the prior year, the firm earned ($0.87) EPS. On average, equities research analysts expect that Tilray Brands, Inc. will post -0.58 EPS for the current year.
Insider Activity at Tilray Brands
In other Tilray Brands news, Director David G. Hopkinson sold 33,556 shares of the company’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $6.94, for a total transaction of $232,878.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.84% of the company’s stock.
Hedge Funds Weigh In On Tilray Brands
A number of large investors have recently modified their holdings of TLRY. Tudor Investment Corp ET AL purchased a new position in Tilray Brands during the third quarter worth approximately $518,000. Optiver Holding B.V. grew its stake in shares of Tilray Brands by 239.4% during the 3rd quarter. Optiver Holding B.V. now owns 224,049 shares of the company’s stock valued at $388,000 after buying an additional 158,041 shares during the period. Cresset Asset Management LLC increased its holdings in shares of Tilray Brands by 72.1% during the 3rd quarter. Cresset Asset Management LLC now owns 501,989 shares of the company’s stock worth $868,000 after buying an additional 210,267 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in shares of Tilray Brands by 99,204,800.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 992,049 shares of the company’s stock worth $1,716,000 after buying an additional 992,048 shares during the last quarter. Finally, Zuckerman Investment Group LLC purchased a new position in shares of Tilray Brands in the 3rd quarter worth $147,000. 9.35% of the stock is owned by hedge funds and other institutional investors.
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.