Vontobel Holding Ltd. Boosts Stake in Tilray Brands, Inc. $TLRY

Vontobel Holding Ltd. grew its stake in Tilray Brands, Inc. (NASDAQ:TLRY) by 12.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 272,662 shares of the company’s stock after buying an additional 30,818 shares during the period. Vontobel Holding Ltd.’s holdings in Tilray Brands were worth $113,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in TLRY. Cerity Partners LLC purchased a new position in shares of Tilray Brands in the first quarter worth $31,000. Capital Management Associates Inc raised its holdings in shares of Tilray Brands by 100.0% in the first quarter. Capital Management Associates Inc now owns 50,760 shares of the company’s stock worth $33,000 after buying an additional 25,380 shares during the last quarter. Fifth Lane Capital LP raised its holdings in shares of Tilray Brands by 400.0% in the first quarter. Fifth Lane Capital LP now owns 50,000 shares of the company’s stock worth $33,000 after buying an additional 40,000 shares during the last quarter. Zuckerman Investment Group LLC purchased a new position in shares of Tilray Brands in the first quarter worth $33,000. Finally, Garde Capital Inc. purchased a new position in shares of Tilray Brands in the first quarter worth $46,000. Hedge funds and other institutional investors own 9.35% of the company’s stock.

Wall Street Analysts Forecast Growth

TLRY has been the subject of several recent research reports. Zelman & Associates reissued a “neutral” rating on shares of Tilray Brands in a report on Tuesday, July 29th. Wall Street Zen raised shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Saturday, October 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Tilray Brands in a report on Wednesday, October 8th. Atb Cap Markets cut shares of Tilray Brands from a “hold” rating to a “strong sell” rating in a report on Thursday, October 9th. Finally, Jefferies Financial Group raised their target price on shares of Tilray Brands from $1.50 to $2.00 and gave the stock a “buy” rating in a report on Monday, August 25th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $2.00.

Tilray Brands Stock Up 5.0%

TLRY opened at $1.68 on Thursday. Tilray Brands, Inc. has a fifty-two week low of $0.35 and a fifty-two week high of $2.32. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.56 and a current ratio of 2.62. The company has a fifty day moving average of $1.31 and a two-hundred day moving average of $0.78. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of -0.74 and a beta of 1.98.

Tilray Brands (NASDAQ:TLRY) last released its quarterly earnings data on Thursday, October 9th. The company reported $0.00 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.03. Tilray Brands had a negative net margin of 258.54% and a negative return on equity of 6.79%. The company had revenue of $209.50 million during the quarter, compared to analysts’ expectations of $205.75 million. On average, research analysts expect that Tilray Brands, Inc. will post -0.2 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Irwin D. Simon acquired 165,000 shares of the business’s stock in a transaction on Wednesday, July 30th. The stock was bought at an average price of $0.61 per share, with a total value of $100,650.00. Following the completion of the acquisition, the chief executive officer owned 3,941,633 shares of the company’s stock, valued at approximately $2,404,396.13. This represents a 4.37% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.84% of the company’s stock.

Tilray Brands Profile

Tilray, Inc engages in the research, cultivation, processing, and distribution of medical cannabis. The company offers its products in Argentina, Australia, Canada, Chile, Croatia, Cyprus, the Czech Republic, Germany, New Zealand, and South Africa. Tilray, Inc is headquartered in Canada.