Shares of Tilray Brands, Inc. (NASDAQ:TLRY – Get Free Report) fell 4.4% on Tuesday . The stock traded as low as $4.28 and last traded at $4.30. 4,434,170 shares changed hands during mid-day trading, an increase of 5% from the average daily volume of 4,240,932 shares. The stock had previously closed at $4.50.
Analyst Upgrades and Downgrades
TLRY has been the topic of several analyst reports. Wall Street Zen downgraded shares of Tilray Brands from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. TD Cowen lowered their target price on Tilray Brands from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, July 14th. TD Securities upgraded shares of Tilray Brands to a “strong-buy” rating in a report on Friday, July 31st. Finally, Weiss Ratings upgraded Tilray Brands from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, August 24th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Tilray Brands has an average rating of “Hold” and a consensus price target of $8.00.
View Our Latest Stock Analysis on TLRY
Tilray Brands Stock Down 4.4%
Tilray Brands (NASDAQ:TLRY – Get Free Report) last announced its earnings results on Tuesday, July 28th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.42). Tilray Brands had a negative return on equity of 7.76% and a negative net margin of 13.11%.The business had revenue of $281.71 million during the quarter, compared to analyst estimates of $246.30 million. On average, equities analysts predict that Tilray Brands, Inc. will post -0.42 EPS for the current year.
Insider Buying and Selling at Tilray Brands
In related news, CFO Carl Merton bought 10,000 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was bought at an average cost of $4.62 per share, with a total value of $46,200.00. Following the completion of the purchase, the chief financial officer owned 139,753 shares in the company, valued at approximately $645,658.86. The trade was a 7.71% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have bought 15,000 shares of company stock valued at $69,225 over the last ninety days. Insiders own 0.84% of the company’s stock.
Hedge Funds Weigh In On Tilray Brands
Several large investors have recently made changes to their positions in TLRY. Hilton Head Capital Partners LLC acquired a new position in Tilray Brands during the 4th quarter valued at about $38,000. Essential Partners LLC increased its stake in Tilray Brands by 110,137.5% in the first quarter. Essential Partners LLC now owns 8,819 shares of the company’s stock valued at $57,000 after purchasing an additional 8,811 shares in the last quarter. Deutsche Bank AG bought a new stake in shares of Tilray Brands in the 2nd quarter valued at $44,000. Corient Private Wealth LP bought a new stake in shares of Tilray Brands in the second quarter worth about $53,000. Finally, Centaurus Financial Inc. bought a new stake in Tilray Brands during the 2nd quarter worth approximately $58,000. 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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