Tilray Brands, Inc. (NASDAQ:TLRY – Get Free Report) was down 2.6% during mid-day trading on Tuesday . The company traded as low as $4.85 and last traded at $4.88. Approximately 3,505,275 shares changed hands during mid-day trading, a decline of 19% from the average session volume of 4,334,543 shares. The stock had previously closed at $5.01.
Key Stories Impacting Tilray Brands
Here are the key news stories impacting Tilray Brands this week:
- Positive Sentiment: Tilray expanded its Hi*Ball Energy brand into the U.K., with online sales now live through Amazon and BrewDog’s website and a wider rollout underway. This could broaden the company’s beverage reach and open a new international revenue stream. Tilray takes Hi*Ball energy brand to UK
- Positive Sentiment: Tilray’s Breckenridge Distillery announced a limited-release Single Barrel Bourbon Collection, highlighting continued product innovation and premiumization within its alcohol portfolio, which may help investor sentiment around non-cannabis growth businesses. Breckenridge Distillery Releases Limited Single Barrel Bourbon Collection
- Neutral Sentiment: Additional coverage reiterated the Hi*Ball U.K. launch and the Breckenridge bourbon release, but these were duplicates of the same company updates rather than new catalysts. Hi*Ball Energy Arrives in the UK, Leading a New Wave of Clean Energy
- Neutral Sentiment: Earlier articles also discussed Tilray’s inclusion in lists of cannabis stocks to watch and broader sector chatter around cannabis rescheduling, which may keep speculative interest in the stock alive but does not appear to be tied to a company-specific operational update. Promising Cannabis Stocks To Follow Now – June 17th
- Negative Sentiment: Recent market commentary noted Tilray shares had previously fallen more than the broader market, reflecting ongoing volatility and investor caution around the name despite the latest brand announcements. Here’s Why Tilray Brands, Inc. (TLRY) Fell More Than Broader Market
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on TLRY shares. Weiss Ratings lowered Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 13th. TD Cowen cut 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. ATB Cormark Capital Markets reduced their price objective on Tilray Brands from $9.50 to $9.00 and set a “sector perform” rating for the company in a research report on Thursday, April 2nd. Roth Mkm upgraded Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a research note on Thursday, April 2nd. Finally, Wall Street Zen raised Tilray Brands from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Tilray Brands has a consensus rating of “Hold” and a consensus price target of $11.50.
Tilray Brands Price Performance
The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.66 and a current ratio of 2.79. The stock has a market capitalization of $551.28 million, a price-to-earnings ratio of -0.35 and a beta of 1.88. The business’s 50 day simple moving average is $5.84 and its 200-day simple moving average is $7.38.
Tilray Brands (NASDAQ:TLRY – Get Free Report) last announced its quarterly 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). The firm had revenue of $206.73 million during the quarter, compared to analyst estimates of $201.35 million. Tilray Brands had a negative net margin of 156.51% and a negative return on equity of 3.31%. During the same quarter in the previous year, the business posted ($0.87) EPS. Research analysts anticipate that Tilray Brands, Inc. will post -0.58 earnings per share for the current year.
Insider Buying and Selling
In related news, Director David G. Hopkinson sold 33,556 shares of the firm’s 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.84% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC increased its holdings 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 valued at $12,006,000 after purchasing an additional 3,776,410 shares during the period. Millennium Management LLC grew its position in Tilray Brands by 281.0% in the 3rd quarter. Millennium Management LLC now owns 4,942,319 shares of the company’s stock valued at $8,550,000 after buying an additional 3,645,060 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Tilray Brands in the 3rd quarter valued at about $5,813,000. Ausdal Financial Partners Inc. acquired a new position in Tilray Brands during the 2nd quarter valued at about $939,000. Finally, Scientech Research LLC acquired a new position in Tilray Brands during the 3rd quarter valued at about $1,748,000. Institutional investors and hedge funds 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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