Tilray Brands, Inc. (NASDAQ:TLRY) Given Consensus Recommendation of “Hold” by Analysts

Shares of Tilray Brands, Inc. (NASDAQ:TLRY) have earned a consensus recommendation of “Hold” from the eight analysts that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $11.50.

Several equities analysts have issued reports on TLRY shares. ATB Cormark Capital Markets cut 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. 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. Weiss Ratings lowered shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 13th. Zacks Research upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 11th. Finally, TD Cowen lowered their price objective on shares of Tilray Brands from $10.00 to $7.00 and set a “buy” rating for the company in a research note on Monday, March 30th.

Tilray Brands Price Performance

NASDAQ TLRY opened at $5.51 on Monday. The firm’s fifty day simple moving average is $6.20 and its two-hundred day simple moving average is $7.87. The company has a current ratio of 2.79, a quick ratio of 1.66 and a debt-to-equity ratio of 0.19. Tilray Brands has a 12-month low of $3.51 and a 12-month high of $23.20. The firm has a market capitalization of $642.19 million, a P/E ratio of -0.40 and a beta of 1.88.

Tilray Brands (NASDAQ:TLRY) last released its quarterly earnings results on Wednesday, April 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.10). Tilray Brands had a negative return on equity of 3.31% and a negative net margin of 156.51%.The firm had revenue of $206.73 million during the quarter, compared to analysts’ expectations of $201.35 million. During the same period in the prior year, the firm posted ($0.87) earnings per share. Analysts forecast that Tilray Brands will post -0.58 EPS for the current fiscal year.

Insider Activity at Tilray Brands

In other news, Director David G. Hopkinson sold 33,556 shares of Tilray Brands stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $6.94, for a total transaction of $232,878.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.84% of the company’s stock.

Institutional Investors Weigh In On Tilray Brands

Several institutional investors and hedge funds have recently made changes to their positions in TLRY. Tidal Investments LLC lifted its stake in shares of Tilray Brands by 15.0% during the second quarter. Tidal Investments LLC now owns 28,971,835 shares of the company’s stock worth $12,006,000 after buying an additional 3,776,410 shares during the period. Millennium Management LLC lifted its stake in shares of Tilray Brands by 281.0% during the third quarter. Millennium Management LLC now owns 4,942,319 shares of the company’s stock worth $8,550,000 after buying an additional 3,645,060 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Tilray Brands during the third quarter worth $5,813,000. Ausdal Financial Partners Inc. acquired a new stake in shares of Tilray Brands during the second quarter worth $939,000. Finally, Scientech Research LLC acquired a new stake in shares of Tilray Brands during the third quarter worth $1,748,000. 9.35% of the stock is currently owned by institutional investors and hedge funds.

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.