Tilray Brands, Inc. (NASDAQ:TLRY – Get Free Report)’s stock price dropped 2.7% during trading on Friday . The company traded as low as $4.94 and last traded at $4.98. Approximately 3,137,548 shares were traded during mid-day trading, a decline of 28% from the average daily volume of 4,348,590 shares. The stock had previously closed at $5.12.
Analysts Set New Price Targets
TLRY has been the topic of a number of research reports. Weiss Ratings cut shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 13th. ATB Cormark Capital Markets lowered their price target on shares of Tilray Brands from $9.50 to $9.00 and set a “sector perform” rating on the stock in a report on Thursday, April 2nd. TD Cowen lowered their price target on shares of Tilray Brands from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Monday, March 30th. Roth Mkm raised shares of Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Thursday, April 2nd. Finally, Wall Street Zen raised shares of Tilray Brands from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $11.50.
View Our Latest Stock Analysis on TLRY
Tilray Brands Price Performance
Tilray Brands (NASDAQ:TLRY – Get Free Report) last released its quarterly earnings data on Wednesday, April 1st. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.10). Tilray Brands had a negative net margin of 156.51% and a negative return on equity of 3.31%. The business had revenue of $206.73 million during the quarter, compared to analysts’ expectations of $201.35 million. During the same quarter in the prior year, the firm posted ($0.87) earnings per share. As a group, sell-side analysts anticipate that Tilray Brands, Inc. will post -0.58 EPS for the current year.
Insiders Place Their Bets
In related news, Director David G. Hopkinson sold 33,556 shares of Tilray Brands stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $6.94, for a total value of $232,878.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.84% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the business. Essential Partners LLC grew its stake in Tilray Brands by 110,137.5% in the 1st quarter. Essential Partners LLC now owns 8,819 shares of the company’s stock valued at $57,000 after buying an additional 8,811 shares in the last quarter. Entropy Technologies LP purchased a new position in shares of Tilray Brands during the 1st quarter valued at $123,000. Baader Bank Aktiengesellschaft grew its position in shares of Tilray Brands by 17.7% during the 1st quarter. Baader Bank Aktiengesellschaft now owns 47,938 shares of the company’s stock valued at $293,000 after purchasing an additional 7,226 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Tilray Brands by 82.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 87,803 shares of the company’s stock valued at $568,000 after purchasing an additional 39,801 shares in the last quarter. Finally, Swiss National Bank grew its position in shares of Tilray Brands by 4.1% during the 1st quarter. Swiss National Bank now owns 230,503 shares of the company’s stock valued at $1,491,000 after purchasing an additional 9,100 shares in the last quarter. 9.35% of the stock is currently 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.
Featured Articles
- Five stocks we like better than Tilray Brands
- Time to Sell? 3 Winners With Fading Technical Momentum
- Why These 2 Hotel Stocks Are Beating Travel Peers
- This Energy Stock Has Quietly Soared 130% in a Year
- 3 ‘Boring’ Dividend Stocks With Tasty Technical Setups
Receive News & Ratings for Tilray Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tilray Brands and related companies with MarketBeat.com's FREE daily email newsletter.
