Tilray Brands (NASDAQ:TLRY) Shares Down 1.3% – Here’s What Happened

by · The Markets Daily

Shares of Tilray Brands, Inc. (NASDAQ:TLRY – Get Free Report) traded down 1.3% during mid-day trading on Wednesday . The stock traded as low as $4.28 and last traded at $4.43. Approximately 4,194,126 shares changed hands during trading, a decline of 2% from the average daily volume of 4,268,484 shares. The stock had previously closed at $4.49.

Analyst Ratings Changes

Several brokerages recently weighed in on TLRY. Weiss Ratings cut shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 13th. Roth Mkm raised Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a report on Thursday, April 2nd. Wall Street Zen upgraded Tilray Brands from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. ATB Cormark Capital Markets decreased their price target on 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, TD Cowen lowered their price objective on Tilray Brands from $10.00 to $7.00 and set a “buy” rating for the company in a research report on Monday, March 30th. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Tilray Brands has a consensus rating of “Hold” and an average target price of $11.50.

View Our Latest Stock Report on TLRY

Tilray Brands Stock Performance

The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.66 and a current ratio of 2.79. The stock’s 50 day moving average price is $5.36 and its 200 day moving average price is $7.11. The company has a market capitalization of $538.46 million, a P/E ratio of -0.34 and a beta of 1.89.

Tilray Brands (NASDAQ:TLRY – Get Free Report) last posted its quarterly earnings data on Wednesday, April 1st. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.10). The business had revenue of $206.73 million during the quarter, compared to the consensus estimate of $201.35 million. Tilray Brands had a negative return on equity of 3.31% and a negative net margin of 156.51%.During the same period last year, the business posted ($0.87) earnings per share. As a group, equities analysts expect that Tilray Brands, Inc. will post -0.58 EPS for the current year.

Insider Activity

In related news, Director David G. Hopkinson sold 33,556 shares of the business’s stock in a transaction on Tuesday, April 21st. The shares were 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 SEC, which is available at this hyperlink. 0.84% of the stock is owned by insiders.

Institutional Investors Weigh In On Tilray Brands

A number of large investors have recently bought and sold shares of the stock. Tidal Investments LLC grew its position in Tilray Brands by 15.0% during the second quarter. Tidal Investments LLC now owns 28,971,835 shares of the company’s stock worth $12,006,000 after buying an additional 3,776,410 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Tilray Brands by 281.0% in the 3rd quarter. Millennium Management LLC now owns 4,942,319 shares of the company’s stock valued at $8,550,000 after acquiring an additional 3,645,060 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Tilray Brands during the 3rd quarter valued at about $5,813,000. Ausdal Financial Partners Inc. bought a new stake in shares of Tilray Brands during the 2nd quarter valued at about $939,000. Finally, Scientech Research LLC purchased a new position in shares of Tilray Brands during the third quarter worth about $1,748,000. 9.35% of the stock is currently owned by institutional investors and hedge funds.

About Tilray Brands

(Get Free Report)

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.

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