Tilray Brands, Inc. (NASDAQ:TLRY – Get Free Report)’s stock price traded down 2.9% during mid-day trading on Wednesday . The company traded as low as $5.02 and last traded at $5.02. 2,706,153 shares changed hands during trading, a decline of 38% from the average session volume of 4,369,632 shares. The stock had previously closed at $5.17.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on the company. Weiss Ratings downgraded Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 13th. TD Cowen lowered their price target on Tilray Brands from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Monday, March 30th. Wall Street Zen raised Tilray Brands from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. 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. Finally, ATB Cormark Capital Markets lowered their target price 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 equities 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. Based on data from MarketBeat, Tilray Brands currently has a consensus rating of “Hold” and an average price target of $11.50.
Get Our Latest Stock Report on Tilray Brands
Tilray Brands Stock Performance
Tilray Brands (NASDAQ:TLRY – Get Free Report) last posted its earnings results on Wednesday, April 1st. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.10). Tilray Brands had a negative net margin of 156.51% and a negative return on equity of 3.31%. The firm had revenue of $206.73 million during the quarter, compared to the consensus estimate of $201.35 million. During the same period in the prior year, the company posted ($0.87) EPS. On average, sell-side analysts anticipate that Tilray Brands, Inc. will post -0.58 EPS for the current year.
Insider Buying and Selling
In other Tilray Brands news, Director David G. Hopkinson sold 33,556 shares of the company’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.84% of the stock is currently owned by insiders.
Institutional Trading of Tilray Brands
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tudor Investment Corp ET AL purchased a new stake in Tilray Brands in the third quarter worth about $518,000. Optiver Holding B.V. increased its position in Tilray Brands by 239.4% in the third quarter. Optiver Holding B.V. now owns 224,049 shares of the company’s stock worth $388,000 after buying an additional 158,041 shares in the last quarter. Cresset Asset Management LLC increased its position in Tilray Brands by 72.1% in the third quarter. Cresset Asset Management LLC now owns 501,989 shares of the company’s stock worth $868,000 after buying an additional 210,267 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in Tilray Brands by 99,204,800.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 992,049 shares of the company’s stock worth $1,716,000 after buying an additional 992,048 shares in the last quarter. Finally, Zuckerman Investment Group LLC purchased a new stake in Tilray Brands in the third quarter worth about $147,000. Hedge funds and other institutional investors own 9.35% of the company’s stock.
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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