Tilray Brands (NASDAQ:TLRY) Given New $7.00 Price Target at TD Cowen

Tilray Brands (NASDAQ:TLRY) had its target price reduced by TD Cowen from $10.00 to $7.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

TLRY has been the subject of several other research reports. Zacks Research upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 11th. Canaccord Genuity Group initiated coverage on shares of Tilray Brands in a report on Tuesday, January 27th. They set a “hold” rating on the stock. Roth Mkm reduced their price objective on shares of Tilray Brands from $20.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 20th. ATB Cormark Capital Markets raised shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 10th. Finally, Wall Street Zen upgraded Tilray Brands from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Tilray Brands currently has an average rating of “Hold” and a consensus target price of $11.75.

Tilray Brands Stock Performance

NASDAQ TLRY opened at $5.99 on Monday. The business’s 50 day moving average price is $7.46 and its 200-day moving average price is $10.31. Tilray Brands has a fifty-two week low of $3.51 and a fifty-two week high of $23.20. The company has a market cap of $697.89 million, a P/E ratio of -0.27 and a beta of 1.95. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.72 and a current ratio of 2.81.

Tilray Brands (NASDAQ:TLRY) last issued its quarterly earnings results on Thursday, January 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.12. The company had revenue of $217.51 million during the quarter, compared to the consensus estimate 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 company earned ($0.03) earnings per share. Sell-side analysts predict that Tilray Brands will post -0.2 earnings per share for the current year.

Institutional Trading of Tilray Brands

Several institutional investors and hedge funds have recently made changes to their positions in the business. Hilton Head Capital Partners LLC bought a new position in shares of Tilray Brands in the fourth quarter worth about $38,000. Engineers Gate Manager LP bought a new stake in Tilray Brands during the 4th quarter valued at about $126,000. Oppenheimer & Co. Inc. bought a new stake in Tilray Brands during the 3rd quarter valued at about $25,000. Silverlake Wealth Management LLC purchased a new stake in Tilray Brands in the 3rd quarter valued at about $25,000. Finally, Unified Investment Management bought a new position in Tilray Brands in the 3rd quarter worth about $26,000. 9.35% of the stock is currently owned by institutional investors.

About Tilray Brands

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.