Shares of Tilray Brands, Inc. (NASDAQ:TLRY – Get Free Report) dropped 3.3% during trading on Monday . The company traded as low as $4.33 and last traded at $4.42. Approximately 3,767,630 shares traded hands during trading, a decline of 13% from the average daily volume of 4,330,846 shares. The stock had previously closed at $4.57.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on TLRY shares. Weiss Ratings cut shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 13th. TD Securities upgraded Tilray Brands to a “strong-buy” rating in a report on Friday, July 31st. Wall Street Zen downgraded Tilray Brands from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Finally, TD Cowen reduced their price objective on Tilray Brands from $7.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $11.00.
Read Our Latest Report on TLRY
Tilray Brands Price Performance
Tilray Brands (NASDAQ:TLRY – Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.42). The company had revenue of $281.71 million for the quarter, compared to analysts’ expectations of $246.30 million. Tilray Brands had a negative return on equity of 7.76% and a negative net margin of 13.11%. Sell-side analysts forecast that Tilray Brands, Inc. will post -0.4 EPS for the current year.
Insider Activity at Tilray Brands
In other news, CFO Carl A. Merton acquired 10,000 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was acquired at an average price of $4.62 per share, with a total value of $46,200.00. Following the completion of the transaction, the chief financial officer directly owned 139,753 shares in the company, valued at approximately $645,658.86. This represents a 7.71% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have bought 15,000 shares of company stock worth $69,225 in the last ninety days. Insiders own 0.84% of the company’s stock.
Institutional Trading of Tilray Brands
A number of hedge funds have recently bought and sold shares of TLRY. Tidal Investments LLC lifted its stake in shares of Tilray Brands by 15.0% during the 2nd quarter. Tidal Investments LLC now owns 28,971,835 shares of the company’s stock worth $12,006,000 after purchasing an additional 3,776,410 shares during the period. Millennium Management LLC lifted its holdings in shares of Tilray Brands by 281.0% during the 3rd quarter. Millennium Management LLC now owns 4,942,319 shares of the company’s stock worth $8,550,000 after acquiring an additional 3,645,060 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Tilray Brands during the third quarter worth approximately $5,813,000. Ausdal Financial Partners Inc. acquired a new position in shares of Tilray Brands in the 2nd quarter valued at $939,000. Finally, Swiss National Bank grew its stake in shares of Tilray Brands by 4.4% during the 3rd quarter. Swiss National Bank now owns 2,013,038 shares of the company’s stock valued at $3,483,000 after buying an additional 84,900 shares during the period. Institutional investors and hedge funds own 9.35% of the company’s stock.
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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