Tilray Brands, Inc. (NASDAQ:TLRY – Get Free Report)’s share price was down 3.6% during mid-day trading on Tuesday . The company traded as low as $3.98 and last traded at $3.99. 3,194,654 shares traded hands during mid-day trading, a decline of 25% from the average daily volume of 4,233,823 shares. The stock had previously closed at $4.14.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on TLRY shares. Wall Street Zen lowered shares of Tilray Brands from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. TD Cowen reduced their target price on shares of Tilray Brands from $7.00 to $5.00 and set a “buy” rating on the stock in a research 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 note on Monday, August 24th. Finally, TD Securities upgraded shares of Tilray Brands to a “strong-buy” rating in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Tilray Brands presently has an average rating of “Hold” and a consensus price target of $8.00.
Get Our Latest Stock Analysis on Tilray Brands
Tilray Brands Trading Down 3.6%
Tilray Brands (NASDAQ:TLRY – Get Free Report) last announced its earnings results on Tuesday, July 28th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.42). Tilray Brands had a negative return on equity of 7.76% and a negative net margin of 13.11%.The firm had revenue of $281.71 million during the quarter, compared to analyst estimates of $246.30 million. On average, equities analysts anticipate that Tilray Brands, Inc. will post -0.42 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Tilray Brands news, CFO Carl Merton acquired 10,000 shares of Tilray Brands stock in a transaction that occurred on Tuesday, August 4th. The stock was purchased at an average cost of $4.62 per share, with a total value of $46,200.00. Following the purchase, the chief financial officer owned 139,753 shares in the company, valued at approximately $645,658.86. The trade was a 7.71% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders acquired 15,000 shares of company stock worth $69,225 over the last quarter. 0.84% of the stock is currently owned by insiders.
Institutional Trading of Tilray Brands
Large investors have recently added to or reduced their stakes in the business. Hillsdale Investment Management Inc. acquired a new stake in shares of Tilray Brands in the fourth quarter worth $4,855,000. BlackRock Inc. bought a new position in shares of Tilray Brands during the 2nd quarter worth about $2,073,000. Swiss National Bank boosted its position in shares of Tilray Brands by 4.1% during the first quarter. Swiss National Bank now owns 230,503 shares of the company’s stock worth $1,491,000 after buying an additional 9,100 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Tilray Brands by 6.1% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 208,229 shares of the company’s stock valued at $935,000 after buying an additional 11,894 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Tilray Brands by 82.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 87,803 shares of the company’s stock valued at $568,000 after acquiring an additional 39,801 shares in the last quarter. 9.35% of the stock is owned by institutional investors.
Tilray Brands Company Profile
Tilray Brands, Inc is a global consumer packaged goods company headquartered in New York. Its operations span cannabis, beverage alcohol, wellness products and related consumer brands. The company develops, produces, markets and distributes cannabis products, including dried flower, pre-rolls, vapes, concentrates, edibles and medical cannabis, where permitted by local regulations.
Tilray also operates a beverage alcohol platform that includes beer, spirits and other alcoholic beverages.
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