Tilray Brands, Inc. (NASDAQ:TLRY – Get Free Report) shares were down 1.8% during trading on Tuesday . The stock traded as low as $5.34 and last traded at $5.41. Approximately 2,769,704 shares changed hands during mid-day trading, a decline of 39% from the average daily volume of 4,564,758 shares. The stock had previously closed at $5.51.
Analyst Ratings Changes
Several analysts have commented on TLRY shares. Weiss Ratings raised Tilray Brands from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, April 29th. Zacks Research raised Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 11th. Roth Mkm raised Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 price objective on the stock in a report on Thursday, April 2nd. Canaccord Genuity Group started coverage on Tilray Brands in a report on Tuesday, January 27th. They issued a “hold” rating on the stock. Finally, ATB Cormark Capital Markets dropped their price objective on Tilray Brands from $9.50 to $9.00 and set a “sector perform” rating on the stock in a report on Thursday, April 2nd. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $11.50.
Read Our Latest Stock Report on TLRY
Tilray Brands Price Performance
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). The firm had revenue of $206.73 million during the quarter, compared to analyst estimates 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 in the prior year, the firm earned ($0.87) earnings per share. On average, analysts forecast that Tilray Brands, Inc. will post -0.58 earnings per share for the current year.
Insider Activity
In other news, Director David G. Hopkinson sold 33,556 shares of Tilray Brands stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $6.94, for a total value of $232,878.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.84% of the stock is owned by corporate insiders.
Institutional Trading of Tilray Brands
A number of institutional investors have recently made changes to their positions in the company. Baader Bank Aktiengesellschaft boosted its stake in shares of Tilray Brands by 17.7% in the first quarter. Baader Bank Aktiengesellschaft now owns 47,938 shares of the company’s stock worth $293,000 after acquiring an additional 7,226 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Tilray Brands by 82.9% in the first quarter. Dimensional Fund Advisors LP now owns 87,803 shares of the company’s stock worth $568,000 after acquiring an additional 39,801 shares during the last quarter. Swiss National Bank boosted its stake in shares of Tilray Brands by 4.1% in the first quarter. Swiss National Bank now owns 230,503 shares of the company’s stock worth $1,491,000 after acquiring an additional 9,100 shares during the last quarter. R Squared Ltd purchased a new position in Tilray Brands during the first quarter worth approximately $94,000. Finally, Apollon Wealth Management LLC purchased a new position in Tilray Brands during the first quarter worth approximately $96,000. 9.35% of the stock is owned by institutional investors and hedge funds.
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.
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