Tilray Brands (NASDAQ:TLRY) Raised to Hold at Zacks Research

Tilray Brands (NASDAQ:TLRY) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on the stock. ATB Capital upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 10th. Roth Mkm decreased their target price on shares of Tilray Brands from $20.00 to $10.00 and set a “neutral” rating for the company in a report on Tuesday, January 20th. Canaccord Genuity Group started coverage on shares of Tilray Brands in a report on Tuesday, January 27th. They set a “hold” rating on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Tilray Brands in a research report on Wednesday, January 21st. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $13.33.

Tilray Brands Trading Down 1.7%

NASDAQ:TLRY opened at $7.49 on Wednesday. The firm has a market capitalization of $872.66 million, a P/E ratio of -0.34 and a beta of 2.02. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.81 and a quick ratio of 1.72. Tilray Brands has a one year low of $3.51 and a one year high of $23.20. The company’s 50-day simple moving average is $9.13 and its 200 day simple moving average is $10.98.

Tilray Brands (NASDAQ:TLRY) last announced its quarterly earnings data on Thursday, January 8th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.27). Tilray Brands had a negative net margin of 251.69% and a negative return on equity of 6.35%. The company had revenue of $217.51 million for the quarter, compared to analysts’ expectations of $211.15 million. During the same quarter in the previous year, the firm posted ($0.03) EPS. As a group, analysts forecast that Tilray Brands will post -0.2 EPS for the current fiscal year.

Institutional Trading of Tilray Brands

Large investors have recently made changes to their positions in the stock. Silverlake Wealth Management LLC bought a new position in Tilray Brands during the third quarter valued at approximately $25,000. Oppenheimer & Co. Inc. purchased a new stake in Tilray Brands during the 3rd quarter valued at $25,000. Unified Investment Management bought a new position in shares of Tilray Brands during the 3rd quarter valued at $26,000. J.W. Cole Advisors Inc. boosted its stake in shares of Tilray Brands by 203.2% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 71,890 shares of the company’s stock worth $30,000 after buying an additional 48,177 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Tilray Brands in the third quarter worth $30,000. 9.35% of the stock is currently owned by 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.