TD Cowen Has Lowered Expectations for Tilray Brands (NASDAQ:TLRY) Stock Price
by Kim Johansen · The Markets DailyTilray Brands (NASDAQ:TLRY – Get Free Report) had its target price decreased by research analysts at TD Cowen from $10.00 to $7.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s target price points to a potential upside of 10.76% from the stock’s current price.
Other research analysts have also recently issued reports about the company. Zacks Research upgraded Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Tilray Brands in a report on Wednesday, January 21st. Wall Street Zen raised Tilray Brands from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Roth Mkm cut their price target on shares of Tilray Brands from $20.00 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 20th. Finally, ATB Cormark Capital Markets raised shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 10th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Tilray Brands presently has an average rating of “Hold” and a consensus price target of $11.75.
Check Out Our Latest Research Report on TLRY
Tilray Brands Stock Performance
NASDAQ:TLRY opened at $6.32 on Monday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.72 and a current ratio of 2.81. The firm has a 50-day simple moving average of $7.53 and a 200-day simple moving average of $10.35. Tilray Brands has a one year low of $3.51 and a one year high of $23.20. The firm has a market cap of $736.32 million, a P/E ratio of -0.29 and a beta of 1.96.
Tilray Brands (NASDAQ:TLRY – Get Free Report) last announced its earnings results on Thursday, January 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.12. Tilray Brands had a negative return on equity of 6.35% and a negative net margin of 251.69%.The business had revenue of $217.51 million for the quarter, compared to analysts’ expectations of $211.15 million. During the same quarter last year, the firm earned ($0.03) EPS. Equities analysts anticipate that Tilray Brands will post -0.2 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC lifted its holdings in shares of Tilray Brands by 1,839.7% during the first quarter. AQR Capital Management LLC now owns 607,054 shares of the company’s stock worth $399,000 after purchasing an additional 575,757 shares during the period. Swiss National Bank lifted its stake in shares of Tilray Brands by 6.1% in the 2nd quarter. Swiss National Bank now owns 1,928,138 shares of the company’s stock worth $799,000 after acquiring an additional 111,500 shares during the period. XTX Topco Ltd acquired a new stake in Tilray Brands in the second quarter valued at $112,000. J.W. Cole Advisors Inc. boosted its position in shares of Tilray Brands by 203.2% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 71,890 shares of the company’s stock worth $30,000 after purchasing an additional 48,177 shares in the last quarter. Finally, Cerity Partners LLC grew its stake in shares of Tilray Brands by 98.5% during the 2nd quarter. Cerity Partners LLC now owns 92,560 shares of the company’s stock worth $38,000 after purchasing an additional 45,929 shares during the period. 9.35% of the stock is currently 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.