Tilray Brands, Inc. (NASDAQ:TLRY – Get Free Report)’s share price was down 2.1% during trading on Wednesday . The company traded as low as $4.63 and last traded at $4.68. Approximately 2,934,744 shares changed hands during mid-day trading, a decline of 32% from the average daily volume of 4,329,600 shares. The stock had previously closed at $4.78.
Analyst Ratings Changes
A number of analysts recently issued reports on TLRY shares. Wall Street Zen lowered Tilray Brands from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. TD Securities upgraded Tilray Brands to a “strong-buy” rating in a research note on Friday, July 31st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Tilray Brands in a report on Friday. Finally, TD Cowen decreased their price target on Tilray Brands from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Tilray Brands presently has an average rating of “Moderate Buy” and an average target price of $11.00.
Check Out Our Latest Stock Report on Tilray Brands
Tilray Brands Price Performance
Tilray Brands (NASDAQ:TLRY – Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.42). Tilray Brands had a negative net margin of 13.11% and a negative return on equity of 7.76%. The business had revenue of $281.71 million for the quarter, compared to the consensus estimate of $246.30 million. On average, sell-side analysts expect that Tilray Brands, Inc. will post -0.4 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, CFO Carl A. Merton bought 10,000 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was acquired at an average cost of $4.62 per share, for a total transaction of $46,200.00. Following the completion of the transaction, the chief financial officer directly owned 139,753 shares in the company, valued at $645,658.86. This trade represents a 7.71% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have purchased 15,000 shares of company stock valued at $69,225 over the last quarter. Company insiders own 0.84% of the company’s stock.
Hedge Funds Weigh In On Tilray Brands
A number of institutional investors have recently made changes to their positions in TLRY. Hilton Head Capital Partners LLC purchased a new stake in shares of Tilray Brands during the 4th quarter valued at $38,000. Cerity Partners LLC grew its position in Tilray Brands by 98.5% in the second quarter. Cerity Partners LLC now owns 92,560 shares of the company’s stock worth $38,000 after acquiring an additional 45,929 shares in the last quarter. Marex Group plc bought a new position in Tilray Brands in the second quarter valued at $40,000. Hilton Capital Management LLC bought a new position in Tilray Brands in the second quarter valued at $41,000. Finally, Deutsche Bank AG purchased a new stake in Tilray Brands during the second quarter valued at about $44,000. Institutional investors 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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