Tilray Brands, Inc. (NASDAQ:TLRY – Get Free Report)’s share price traded down 3.1% during trading on Friday . The stock traded as low as $5.29 and last traded at $5.29. 2,058,196 shares changed hands during trading, a decline of 54% from the average session volume of 4,437,173 shares. The stock had previously closed at $5.46.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on the company. ATB Cormark Capital Markets cut their price target on Tilray Brands from $9.50 to $9.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 2nd. Canaccord Genuity Group initiated coverage on Tilray Brands in a research note on Tuesday, January 27th. They set a “hold” rating on the stock. Weiss Ratings downgraded Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 13th. Zacks Research raised Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 11th. Finally, Wall Street Zen raised Tilray Brands from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $11.50.
Get Our Latest Stock Analysis on Tilray Brands
Tilray Brands Stock Down 3.1%
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 for the quarter, missing the consensus estimate 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 business had revenue of $206.73 million during the quarter, compared to analyst estimates of $201.35 million. During the same period in the prior year, the business posted ($0.87) EPS. On average, equities analysts predict that Tilray Brands, Inc. will post -0.58 earnings per share for the current fiscal year.
Insider Activity at Tilray Brands
In related news, Director David G. Hopkinson sold 33,556 shares of Tilray Brands stock in a transaction dated 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 is available at the SEC website. 0.84% of the stock is owned by company insiders.
Institutional Trading of Tilray Brands
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Essential Partners LLC lifted its holdings in Tilray Brands by 110,137.5% in the first quarter. Essential Partners LLC now owns 8,819 shares of the company’s stock valued at $57,000 after acquiring an additional 8,811 shares during the period. Entropy Technologies LP acquired a new position in Tilray Brands in the first quarter valued at approximately $123,000. Baader Bank Aktiengesellschaft lifted its holdings in Tilray Brands by 17.7% in the first quarter. Baader Bank Aktiengesellschaft now owns 47,938 shares of the company’s stock valued at $293,000 after acquiring an additional 7,226 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Tilray Brands by 82.9% in the first quarter. Dimensional Fund Advisors LP now owns 87,803 shares of the company’s stock valued at $568,000 after acquiring an additional 39,801 shares during the period. Finally, Swiss National Bank lifted its holdings in Tilray Brands by 4.1% in the first quarter. Swiss National Bank now owns 230,503 shares of the company’s stock valued at $1,491,000 after acquiring an additional 9,100 shares during the period. 9.35% of the stock is owned by institutional investors and hedge funds.
Tilray Brands Company Profile
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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