Tilray Brands, Inc. $TLRY Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its holdings in Tilray Brands, Inc. (NASDAQ:TLRY) by 88.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,242 shares of the company’s stock after selling 97,595 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Tilray Brands were worth $120,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TLRY. Silverlake Wealth Management LLC acquired a new position in Tilray Brands in the third quarter valued at approximately $25,000. Oppenheimer & Co. Inc. acquired a new position in Tilray Brands in the third quarter valued at approximately $25,000. Unified Investment Management acquired a new position in Tilray Brands in the third quarter valued at approximately $26,000. Y Intercept Hong Kong Ltd acquired a new position in Tilray Brands in the third quarter valued at approximately $30,000. Finally, HighPoint Advisor Group LLC acquired a new position in Tilray Brands in the third quarter valued at approximately $33,000. 9.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tilray Brands

In other news, Director David G. Hopkinson sold 33,556 shares of the company’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $6.94, for a total transaction of $232,878.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.84% of the stock is owned by company insiders.

Tilray Brands Price Performance

Tilray Brands stock opened at $5.51 on Tuesday. Tilray Brands, Inc. has a 12 month low of $3.51 and a 12 month high of $23.20. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.79 and a quick ratio of 1.66. The business has a 50 day simple moving average of $6.70 and a 200-day simple moving average of $8.67. The stock has a market capitalization of $642.19 million, a PE ratio of -0.40 and a beta of 1.94.

Tilray Brands (NASDAQ:TLRY) last released its quarterly earnings results on Wednesday, April 1st. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.10). Tilray Brands had a negative return on equity of 3.31% and a negative net margin of 156.51%.The company had revenue of $206.73 million for the quarter, compared to analysts’ expectations of $201.35 million. During the same quarter last year, the company earned ($0.87) EPS. Equities analysts predict that Tilray Brands, Inc. will post -0.58 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TLRY. ATB Cormark Capital Markets lowered their price target on Tilray Brands from $9.50 to $9.00 and set a “sector perform” rating for the company in a report on Thursday, April 2nd. Canaccord Genuity Group began coverage on Tilray Brands in a report on Tuesday, January 27th. They issued a “hold” rating for the company. Zacks Research raised Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 11th. Weiss Ratings raised Tilray Brands from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, April 29th. Finally, Roth Mkm raised Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 price target for the company in a report on Thursday, April 2nd. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Tilray Brands currently has a consensus rating of “Hold” and a consensus target price of $11.50.

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.