Tilray Brands (NASDAQ:TLRY) Now Covered by Analysts at Canaccord Genuity Group

Canaccord Genuity Group started coverage on shares of Tilray Brands (NASDAQ:TLRY) in a research report released on Tuesday morning, MarketBeat Ratings reports. The brokerage issued a hold rating on the stock.

A number of other analysts have also recently weighed in on TLRY. Roth Mkm decreased their price target on shares of Tilray Brands from $20.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday, January 20th. Wall Street Zen raised Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Saturday, October 11th. Atb Cap Markets upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tilray Brands in a report on Wednesday, January 21st. Finally, Zacks Research downgraded shares of Tilray Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $13.33.

Tilray Brands Stock Down 3.6%

Shares of NASDAQ TLRY opened at $8.42 on Tuesday. The stock has a market capitalization of $981.01 million, a PE ratio of -0.38 and a beta of 1.77. The company has a quick ratio of 1.72, a current ratio of 2.81 and a debt-to-equity ratio of 0.19. The firm has a fifty day moving average of $9.43 and a 200-day moving average of $10.97. Tilray Brands has a 52-week low of $3.51 and a 52-week high of $23.20.

Tilray Brands (NASDAQ:TLRY) last issued its earnings results on Thursday, January 8th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.27). The firm had revenue of $217.51 million during 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 last year, the business posted ($0.03) earnings per share. On average, analysts anticipate that Tilray Brands will post -0.2 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Tidal Investments LLC boosted its holdings in 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 in the last quarter. Millennium Management LLC lifted its stake in Tilray Brands by 281.0% in the 3rd quarter. Millennium Management LLC now owns 4,942,319 shares of the company’s stock worth $8,550,000 after acquiring an additional 3,645,060 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Tilray Brands in the third quarter worth approximately $5,813,000. Ausdal Financial Partners Inc. acquired a new stake in shares of Tilray Brands during the 2nd quarter valued at $939,000. Finally, Scientech Research LLC purchased a new position in Tilray Brands in the third quarter valued at about $1,748,000. 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.