Tilray Brands, Inc. (NASDAQ:TLRY – Get Free Report) dropped 2.4% during mid-day trading on Monday. The stock traded as low as $2.81 and last traded at $2.85. Approximately 3,250,871 shares traded hands during trading, a decline of 24% from the average daily volume of 4,281,349 shares. The stock had previously closed at $2.92.
Analyst Upgrades and Downgrades
A number of research analysts have commented on TLRY shares. Wall Street Zen downgraded Tilray Brands from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Zacks Research lowered Tilray Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 29th. TD Cowen lowered their price target on Tilray Brands from $7.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, July 14th. TD Securities raised Tilray Brands to a “strong-buy” rating in a research report on Friday, July 31st. Finally, TD reduced their price objective on Tilray Brands from $4.70 to $4.50 and set a “buy” rating on the stock in a research note on Monday, October 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $5.90.
Get Our Latest Research Report on TLRY
Tilray Brands Price Performance
The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.11 and a current ratio of 1.88. The company’s fifty day moving average price is $3.52 and its 200 day moving average price is $5.28. The firm has a market capitalization of $385.73 million, a price-to-earnings ratio of -1.86 and a beta of 2.04.
Tilray Brands (NASDAQ:TLRY – Get Free Report) last issued its earnings results on Thursday, October 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.16. Tilray Brands had a negative net margin of 16.91% and a negative return on equity of 10.39%. The firm had revenue of $257.15 million for the quarter, compared to analysts’ expectations of $266.26 million. Equities research analysts expect that Tilray Brands, Inc. will post -0.52 earnings per share for the current year.
Institutional Investors Weigh In On Tilray Brands
Hedge funds have recently added to or reduced their stakes in the stock. Ieq Capital LLC lifted its position in Tilray Brands by 88.2% in the 3rd quarter. Ieq Capital LLC now owns 60,999 shares of the company’s stock valued at $229,000 after purchasing an additional 28,590 shares during the last quarter. R Squared Ltd grew its position in Tilray Brands by 35.5% in the 3rd quarter. R Squared Ltd now owns 37,754 shares of the company’s stock worth $142,000 after purchasing an additional 9,893 shares during the last quarter. State of Wyoming grew its position in Tilray Brands by 114.2% in the 3rd quarter. State of Wyoming now owns 81,502 shares of the company’s stock worth $306,000 after purchasing an additional 43,448 shares during the last quarter. SLT Holdings LLC acquired a new stake in shares of Tilray Brands in the third quarter valued at approximately $247,000. Finally, Engineers Gate Manager LP increased its stake in shares of Tilray Brands by 124.1% in the second quarter. Engineers Gate Manager LP now owns 60,839 shares of the company’s stock valued at $273,000 after purchasing an additional 33,688 shares during the period. 9.35% of the stock is currently owned by institutional investors.
Tilray Brands Company Profile
Tilray Brands is a global cannabis and consumer packaged goods company. Its cannabis business produces and sells medical and adult-use products, including dried flower, oils, extracts and edibles, under brands such as Good Supply, Solei, Redecan and Broken Coast. The company serves customers in Canada, the United States and international markets. Its activities include medical cannabis distribution in countries where permitted, as well as cannabis and hemp-related products in North America, subject to local regulations.
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