Hillsdale Investment Management Inc. Invests $4.86 Million in Tilray Brands, Inc. $TLRY

Hillsdale Investment Management Inc. purchased a new position in shares of Tilray Brands, Inc. (NASDAQ:TLRYFree Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 536,000 shares of the company’s stock, valued at approximately $4,855,000.

Other hedge funds have also made changes to their positions in the company. Oppenheimer & Co. Inc. acquired a new stake in shares of Tilray Brands during the third quarter worth approximately $25,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Tilray Brands during the third quarter worth approximately $30,000. HighPoint Advisor Group LLC acquired a new stake in shares of Tilray Brands during the third quarter worth approximately $33,000. Clearstead Advisors LLC grew its position in shares of Tilray Brands by 437.3% during the third quarter. Clearstead Advisors LLC now owns 21,625 shares of the company’s stock worth $37,000 after buying an additional 17,600 shares in the last quarter. Finally, Cerity Partners LLC grew its position in shares of Tilray Brands by 98.5% during the second quarter. Cerity Partners LLC now owns 92,560 shares of the company’s stock worth $38,000 after buying an additional 45,929 shares in the last quarter. Institutional investors and hedge funds own 9.35% of the company’s stock.

Insider Activity

In other news, Director David G. Hopkinson sold 33,556 shares of the business’s stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $6.94, for a total transaction of $232,878.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Zacks Research raised shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 11th. Wall Street Zen raised shares of Tilray Brands from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Weiss Ratings downgraded shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 13th. Roth Mkm raised shares of Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Thursday, April 2nd. Finally, TD Cowen decreased their price objective on shares of Tilray Brands from $10.00 to $7.00 and set a “buy” rating for the company in a report on Monday, March 30th. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $11.50.

Check Out Our Latest Stock Analysis on Tilray Brands

Tilray Brands Stock Performance

Tilray Brands stock opened at $5.51 on Friday. The company has a market cap of $642.19 million, a PE ratio of -0.40 and a beta of 1.94. The company has a fifty day moving average price of $6.20 and a two-hundred day moving average price of $7.91. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.79 and a quick ratio of 1.66. Tilray Brands, Inc. has a 12 month low of $3.51 and a 12 month high of $23.20.

Tilray Brands (NASDAQ:TLRYGet Free Report) last released its quarterly earnings data on Wednesday, April 1st. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.10). The business had revenue of $206.73 million during the quarter, compared to analyst estimates of $201.35 million. Tilray Brands had a negative return on equity of 3.31% and a negative net margin of 156.51%.During the same period in the prior year, the firm earned ($0.87) EPS. Research analysts expect that Tilray Brands, Inc. will post -0.58 earnings per share for the current year.

About Tilray Brands

(Free Report)

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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Institutional Ownership by Quarter for Tilray Brands (NASDAQ:TLRY)

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