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

Tilray Brands, Inc. (NASDAQ:TLRY) has earned a consensus rating of “Hold” from the eight ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $13.3333.

Several research analysts recently commented on TLRY shares. ATB Cormark Capital Markets upgraded Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Tilray Brands in a research report on Wednesday, January 21st. Canaccord Genuity Group initiated coverage on Tilray Brands in a research note on Tuesday, January 27th. They set a “hold” rating on the stock. Roth Mkm reduced their price target on Tilray Brands from $20.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday, January 20th. Finally, Zacks Research raised Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Wednesday.

Institutional Investors Weigh In On Tilray Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Silverlake Wealth Management LLC acquired a new position in shares of Tilray Brands during the 3rd quarter worth about $25,000. Oppenheimer & Co. Inc. purchased a new position in Tilray Brands during the third quarter worth approximately $25,000. Unified Investment Management acquired a new position in Tilray Brands during the third quarter worth $26,000. J.W. Cole Advisors Inc. boosted its stake in Tilray Brands by 203.2% during the second quarter. J.W. Cole Advisors Inc. now owns 71,890 shares of the company’s stock worth $30,000 after buying an additional 48,177 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Tilray Brands in the 3rd quarter valued at $30,000. Institutional investors and hedge funds own 9.35% of the company’s stock.

Tilray Brands Stock Performance

TLRY opened at $7.51 on Friday. The firm has a market cap of $874.99 million, a P/E ratio of -0.34 and a beta of 2.02. Tilray Brands has a 1-year low of $3.51 and a 1-year high of $23.20. The company has a 50 day simple moving average of $9.13 and a two-hundred day simple moving average of $10.99. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.81 and a quick ratio of 1.72.

Tilray Brands (NASDAQ:TLRY) last issued its earnings results on Thursday, January 8th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.27). The business had revenue of $217.51 million for the quarter, compared to the consensus estimate of $211.15 million. Tilray Brands had a negative net margin of 251.69% and a negative return on equity of 6.35%. During the same period last year, the business posted ($0.03) EPS. Equities analysts forecast that Tilray Brands will post -0.2 earnings per share for the current fiscal year.

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.