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

Tilray Brands, Inc. (NASDAQ:TLRY) has received a consensus rating of “Hold” from the five ratings firms that are presently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $1.9167.

TLRY has been the subject of several recent research reports. Zelman & Associates reiterated a “neutral” rating on shares of Tilray Brands in a research report on Tuesday, July 29th. Wall Street Zen downgraded Tilray Brands to a “strong sell” rating in a report on Saturday, July 5th. Piper Sandler reduced their target price on Tilray Brands from $2.00 to $1.00 and set a “neutral” rating on the stock in a report on Wednesday, April 9th. Finally, Roth Capital reaffirmed a “neutral” rating on shares of Tilray Brands in a research note on Monday, April 14th.

Tilray Brands Stock Performance

Shares of NASDAQ:TLRY opened at $0.61 on Tuesday. The company has a current ratio of 2.46, a quick ratio of 1.49 and a debt-to-equity ratio of 0.20. Tilray Brands has a 1-year low of $0.35 and a 1-year high of $1.98. The stock has a market capitalization of $611.75 million, a P/E ratio of -0.26 and a beta of 1.85. The business has a 50-day moving average price of $0.51 and a two-hundred day moving average price of $0.62.

Tilray Brands (NASDAQ:TLRY) last posted its quarterly earnings results on Monday, July 28th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.05. Tilray Brands had a negative net margin of 265.69% and a negative return on equity of 6.83%. The business had revenue of $224.54 million during the quarter, compared to the consensus estimate of $250.41 million. Equities analysts predict that Tilray Brands will post -0.2 earnings per share for the current year.

Insider Buying and Selling

In other Tilray Brands news, CEO Irwin D. Simon bought 165,000 shares of Tilray Brands stock in a transaction on Wednesday, July 30th. The shares were purchased at an average cost of $0.61 per share, for a total transaction of $100,650.00. Following the completion of the acquisition, the chief executive officer owned 3,941,633 shares in the company, valued at approximately $2,404,396.13. The trade was a 4.37% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.60% of the company’s stock.

Institutional Trading of Tilray Brands

Several hedge funds have recently bought and sold shares of TLRY. Tidal Investments LLC boosted its holdings in shares of Tilray Brands by 9.2% in the fourth quarter. Tidal Investments LLC now owns 10,595,264 shares of the company’s stock valued at $14,092,000 after buying an additional 889,086 shares during the period. Quinn Opportunity Partners LLC lifted its position in Tilray Brands by 108.0% in the 4th quarter. Quinn Opportunity Partners LLC now owns 1,618,080 shares of the company’s stock valued at $2,152,000 after acquiring an additional 840,000 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Tilray Brands by 54.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company’s stock worth $2,890,000 after purchasing an additional 769,569 shares during the period. Millennium Management LLC acquired a new position in Tilray Brands in the 4th quarter worth $879,000. Finally, AQR Capital Management LLC increased its holdings in Tilray Brands by 1,839.7% during the 1st quarter. AQR Capital Management LLC now owns 607,054 shares of the company’s stock worth $399,000 after purchasing an additional 575,757 shares in the last quarter. 9.35% of the stock is currently owned by institutional investors and hedge funds.

About Tilray Brands

Tilray, Inc engages in the research, cultivation, processing, and distribution of medical cannabis. The company offers its products in Argentina, Australia, Canada, Chile, Croatia, Cyprus, the Czech Republic, Germany, New Zealand, and South Africa. Tilray, Inc is headquartered in Canada.