Tilray Brands (NASDAQ:TLRY) Given New $10.00 Price Target at Roth Capital

Tilray Brands (NASDAQ:TLRY) had its price target reduced by Roth Capital from $20.00 to $10.00 in a research report released on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

Several other research analysts have also issued reports on the company. Wall Street Zen upgraded Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Saturday, October 11th. Atb Cap Markets raised Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 10th. Zacks Research downgraded Tilray Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Tilray Brands in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Tilray Brands currently has a consensus rating of “Reduce” and an average price target of $13.33.

Tilray Brands Trading Down 7.4%

Shares of TLRY opened at $8.75 on Tuesday. The company’s fifty day simple moving average is $9.65 and its 200-day simple moving average is $10.87. The company has a market cap of $1.02 billion, a P/E ratio of -0.40 and a beta of 1.77. The company has a current ratio of 2.81, a quick ratio of 1.72 and a debt-to-equity ratio of 0.19. Tilray Brands has a twelve month low of $3.51 and a twelve month high of $23.20.

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

Hedge Funds Weigh In On Tilray Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in TLRY. AQR Capital Management LLC raised its holdings 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 valued at $399,000 after acquiring an additional 575,757 shares in the last quarter. Vontobel Holding Ltd. increased its position in Tilray Brands by 12.7% during the 2nd quarter. Vontobel Holding Ltd. now owns 272,662 shares of the company’s stock valued at $113,000 after purchasing an additional 30,818 shares during the period. Blair William & Co. IL increased its position in Tilray Brands by 55.9% during the 2nd quarter. Blair William & Co. IL now owns 239,743 shares of the company’s stock valued at $99,000 after purchasing an additional 86,010 shares during the period. Stratos Wealth Partners LTD. raised its holdings in shares of Tilray Brands by 704.5% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 81,272 shares of the company’s stock valued at $34,000 after purchasing an additional 71,170 shares in the last quarter. Finally, Tradewinds Capital Management LLC lifted its position in shares of Tilray Brands by 177.0% in the 2nd quarter. Tradewinds Capital Management LLC now owns 203,461 shares of the company’s stock worth $84,000 after purchasing an additional 130,001 shares during the period. Institutional investors own 9.35% of the company’s stock.

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.