Tilray Brands, Inc. (NASDAQ:TLRY – Get Free Report) shares traded down 1.9% on Tuesday . The company traded as low as $5.40 and last traded at $5.3850. 3,311,976 shares traded hands during mid-day trading, a decline of 5% from the average session volume of 3,493,866 shares. The stock had previously closed at $5.49.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of Tilray Brands from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Zacks Research raised shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 11th. Weiss Ratings downgraded 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 shares of Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a research note on Thursday, April 2nd. Finally, ATB Cormark Capital Markets lowered their target price on shares of 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. Three 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.com, the company presently has a consensus rating of “Hold” and a consensus price target of $11.50.
Get Our Latest Analysis on TLRY
Tilray Brands Price Performance
Tilray Brands (NASDAQ:TLRY – Get Free Report) last issued its earnings results on Wednesday, April 1st. The company reported ($0.24) EPS 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 firm had revenue of $206.73 million during the quarter, compared to analysts’ expectations of $201.35 million. During the same period in the previous year, the firm earned ($0.87) earnings per share. As a group, equities analysts forecast that Tilray Brands, Inc. will post -0.58 EPS 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 on Tuesday, April 21st. The shares were sold at an average price of $6.94, for a total value of $232,878.64. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.84% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in the company. Tidal Investments LLC increased its stake in shares of Tilray Brands by 15.0% in 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 shares of Tilray Brands by 281.0% in the third quarter. Millennium Management LLC now owns 4,942,319 shares of the company’s stock worth $8,550,000 after buying an additional 3,645,060 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Tilray Brands in the third quarter worth $5,813,000. Ausdal Financial Partners Inc. purchased a new position in shares of Tilray Brands in the second quarter worth $939,000. Finally, Swiss National Bank increased its stake in shares of Tilray Brands by 4.4% in the third quarter. Swiss National Bank now owns 2,013,038 shares of the company’s stock worth $3,483,000 after buying an additional 84,900 shares during the period. 9.35% of the stock is 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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