Shares of Tilray Brands, Inc. (NASDAQ:TLRY – Get Free Report) were down 2.5% on Friday . The stock traded as low as $5.48 and last traded at $5.51. Approximately 3,304,408 shares traded hands during trading, a decline of 25% from the average daily volume of 4,400,771 shares. The stock had previously closed at $5.65.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on TLRY shares. Zacks Research raised shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 11th. Roth Mkm raised shares of Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Thursday, April 2nd. TD Cowen lowered their price target on shares of Tilray Brands from $10.00 to $7.00 and set a “buy” rating on the stock in a research report on Monday, March 30th. Wall Street Zen raised shares of Tilray Brands from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Finally, Weiss Ratings cut shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 13th. 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. Based on data from MarketBeat.com, Tilray Brands has an average rating of “Hold” and a consensus price target of $11.50.
Get Our Latest Analysis on Tilray Brands
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 business had revenue of $206.73 million for the quarter, compared to analysts’ expectations 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 quarter last year, the company earned ($0.87) earnings per share. On average, equities research analysts anticipate that Tilray Brands, Inc. will post -0.58 EPS for the current fiscal year.
Insider Transactions at Tilray Brands
In other Tilray Brands news, Director David G. Hopkinson sold 33,556 shares of the business’s stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $6.94, for a total transaction of $232,878.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.84% of the stock is owned by company insiders.
Institutional Trading of Tilray Brands
Institutional investors and hedge funds have recently bought and sold shares of the business. Tidal Investments LLC increased its stake in shares of 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 during the period. Millennium Management LLC increased its stake in Tilray Brands by 281.0% in the third quarter. Millennium Management LLC now owns 4,942,319 shares of the company’s stock valued at $8,550,000 after purchasing an additional 3,645,060 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Tilray Brands in the third quarter valued at approximately $5,813,000. Ausdal Financial Partners Inc. purchased a new position in Tilray Brands in the second quarter valued at approximately $939,000. Finally, Scientech Research LLC purchased a new position in Tilray Brands in the third quarter valued at approximately $1,748,000. 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.
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