Tilray Brands, Inc. (NASDAQ:TLRY) Receives $13.33 Average PT from Brokerages

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

A number of equities analysts have weighed in on TLRY shares. 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. Wall Street Zen lowered Tilray Brands from a “hold” rating to a “sell” rating in a research report on Saturday, February 14th. Zacks Research upgraded Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 11th. Canaccord Genuity Group started coverage on Tilray Brands in a report on Tuesday, January 27th. They issued a “hold” rating on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Tilray Brands in a report on Wednesday, January 21st.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Silverlake Wealth Management LLC purchased a new stake in shares of Tilray Brands during the third quarter valued at approximately $25,000. Oppenheimer & Co. Inc. purchased a new position in Tilray Brands in the 3rd quarter worth approximately $25,000. Unified Investment Management bought a new position in Tilray Brands in the 3rd quarter valued at approximately $26,000. J.W. Cole Advisors Inc. boosted its stake in Tilray Brands by 203.2% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 71,890 shares of the company’s stock valued at $30,000 after purchasing an additional 48,177 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Tilray Brands in the 3rd quarter worth $30,000. 9.35% of the stock is owned by hedge funds and other institutional investors.

Tilray Brands Stock Performance

Shares of Tilray Brands stock opened at $7.75 on Friday. The business has a fifty day simple moving average of $9.02 and a two-hundred day simple moving average of $11.05. The firm has a market capitalization of $902.95 million, a P/E ratio of -0.35 and a beta of 2.02. 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 has a 12 month low of $3.51 and a 12 month high of $23.20.

Tilray Brands (NASDAQ:TLRY) last issued its quarterly 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). Tilray Brands had a negative return on equity of 6.35% and a negative net margin of 251.69%.The business had revenue of $217.51 million during the quarter, compared to the consensus estimate of $211.15 million. During the same quarter in the previous year, the business earned ($0.03) earnings per share. On average, equities analysts forecast that Tilray Brands will post -0.2 earnings per share for the current fiscal year.

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.