Tilray Brands (NASDAQ:TLRY) Price Target Lowered to $10.00 at Roth Capital

Tilray Brands (NASDAQ:TLRY) had its target price lowered by investment analysts at Roth Capital from $20.00 to $10.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Roth Capital’s price target indicates a potential upside of 12.80% from the company’s current price.

Several other brokerages have also recently issued reports on TLRY. Atb Cap Markets upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Tilray Brands in a research note on Wednesday, October 8th. Wall Street Zen upgraded Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Saturday, October 11th. Finally, Zacks Research cut Tilray Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Tilray Brands presently has a consensus rating of “Reduce” and a consensus target price of $13.33.

Tilray Brands Stock Down 6.2%

Shares of NASDAQ TLRY traded down $0.59 during midday trading on Tuesday, hitting $8.87. The stock had a trading volume of 3,778,850 shares, compared to its average volume of 6,760,338. The business’s 50 day moving average is $9.73 and its 200-day moving average is $10.84. Tilray Brands has a 52 week low of $3.51 and a 52 week high of $23.20. The company has a quick ratio of 1.72, a current ratio of 2.81 and a debt-to-equity ratio of 0.19. The company has a market cap of $1.03 billion, a P/E ratio of -0.40 and a beta of 1.77.

Tilray Brands (NASDAQ:TLRY) last announced its quarterly earnings data on Thursday, January 8th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.27). The firm had revenue of $217.51 million during the quarter, compared to analysts’ expectations of $211.15 million. Tilray Brands had a negative return on equity of 6.35% and a negative net margin of 251.69%.During the same quarter in the previous year, the firm earned ($0.03) earnings per share. As a group, analysts predict that Tilray Brands will post -0.2 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TLRY. Tidal Investments LLC increased its holdings in Tilray Brands by 15.0% in the 2nd quarter. Tidal Investments LLC now owns 28,971,835 shares of the company’s stock worth $12,006,000 after acquiring an additional 3,776,410 shares in the last quarter. Millennium Management LLC boosted its position in shares of Tilray Brands by 281.0% in the third quarter. Millennium Management LLC now owns 4,942,319 shares of the company’s stock worth $8,550,000 after purchasing an additional 3,645,060 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Tilray Brands in the third quarter worth $5,813,000. Ausdal Financial Partners Inc. bought a new stake in shares of Tilray Brands during the 2nd quarter valued at $939,000. Finally, Swiss National Bank raised its position 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 purchasing an additional 84,900 shares during the period. 9.35% of the stock is owned by hedge funds and other institutional investors.

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.