Tilray Brands, Inc. (NASDAQ:TLRY – Get Free Report)’s stock price traded down 2.1% on Wednesday . The company traded as low as $4.18 and last traded at $4.21. Approximately 4,490,407 shares were traded during mid-day trading, an increase of 6% from the average session volume of 4,244,847 shares. The stock had previously closed at $4.30.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Tilray Brands from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. TD Cowen decreased their price objective on shares of Tilray Brands from $7.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, July 14th. Weiss Ratings upgraded shares of Tilray Brands from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, August 24th. Finally, TD Securities upgraded shares of Tilray Brands to a “strong-buy” rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Tilray Brands presently has a consensus rating of “Hold” and an average price target of $8.00.
Get Our Latest Stock Report on Tilray Brands
Tilray Brands Stock Performance
Tilray Brands (NASDAQ:TLRY – Get Free Report) last released 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 firm had revenue of $281.71 million for the quarter, compared to the consensus estimate of $246.30 million. On average, sell-side analysts anticipate that Tilray Brands, Inc. will post -0.42 EPS for the current year.
Insider Transactions at Tilray Brands
In related news, CFO Carl Merton acquired 10,000 shares of the stock in a transaction dated Tuesday, August 4th. The shares were purchased at an average cost of $4.62 per share, with a total value of $46,200.00. Following the transaction, the chief financial officer directly owned 139,753 shares in the company, valued at approximately $645,658.86. This represents a 7.71% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have purchased 15,000 shares of company stock worth $69,225 in the last three months. Insiders own 0.84% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of TLRY. AQR Capital Management LLC boosted its stake in shares of Tilray Brands by 1,839.7% in the first quarter. AQR Capital Management LLC now owns 607,054 shares of the company’s stock worth $399,000 after acquiring an additional 575,757 shares during the period. XTX Topco Ltd bought a new position in Tilray Brands in the 2nd quarter worth approximately $112,000. Cerity Partners LLC raised 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 valued at $38,000 after buying an additional 45,929 shares during the last quarter. Ausdal Financial Partners Inc. purchased a new position in shares of Tilray Brands in the second quarter worth $939,000. Finally, Bank of America Corp DE boosted its position in shares of Tilray Brands by 26.5% during the second quarter. Bank of America Corp DE now owns 311,810 shares of the company’s stock worth $129,000 after acquiring an additional 65,379 shares during the last quarter. 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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