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

Tilray Brands, Inc. (NASDAQ:TLRY) has earned an average rating of “Reduce” from the seven brokerages that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $15.00.

Several brokerages have issued reports on TLRY. Weiss Ratings restated a “sell (d-)” rating on shares of Tilray Brands in a research report on Wednesday, October 8th. Wall Street Zen upgraded Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Saturday, October 11th. Zacks Research lowered Tilray Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. Finally, Atb Cap Markets raised Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 10th.

Tilray Brands Price Performance

Tilray Brands stock opened at $9.45 on Tuesday. The stock has a 50-day moving average price of $9.73 and a two-hundred day moving average price of $10.84. Tilray Brands has a 12 month low of $3.51 and a 12 month high of $23.20. The company has a market capitalization of $1.10 billion, a PE ratio of -0.43 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 (NASDAQ:TLRY) last released its quarterly earnings data 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). Tilray Brands had a negative net margin of 251.69% and a negative return on equity of 6.35%. The firm had revenue of $217.51 million during the quarter, compared to analyst estimates of $211.15 million. During the same period in the prior year, the company earned ($0.03) EPS. Analysts expect that Tilray Brands will post -0.2 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TLRY. Tidal Investments LLC boosted its stake in shares of Tilray Brands by 15.0% in the 2nd quarter. Tidal Investments LLC now owns 28,971,835 shares of the company’s stock valued at $12,006,000 after purchasing an additional 3,776,410 shares during the last quarter. Millennium Management LLC lifted its holdings in Tilray Brands by 281.0% in the third quarter. Millennium Management LLC now owns 4,942,319 shares of the company’s stock valued at $8,550,000 after buying an additional 3,645,060 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Tilray Brands during the third quarter valued at $5,813,000. Ausdal Financial Partners Inc. acquired a new stake in Tilray Brands during the 2nd quarter worth about $939,000. Finally, Scientech Research LLC bought a new position in shares of Tilray Brands in the 3rd quarter worth about $1,748,000. Institutional investors and hedge funds 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.