Tilray Brands (NASDAQ:TLRY) Posts Earnings Results, Beats Estimates By $0.05 EPS

Key Points

• Tilray Brands reported an earnings per share (EPS) of $0.02, exceeding analyst expectations by $0.05.
• The stock has a current market capitalization of $704.25 million, with analysts holding a consensus rating of "Hold" and an average target price of $1.92.
• Institutional ownership of Tilray Brands currently stands at 9.35%, with AQR Capital Management significantly increasing its stake by almost 1,840% recently.

Tilray Brands (NASDAQ:TLRY - Get Free Report) posted its quarterly earnings results on Monday. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.05, Zacks reports. Tilray Brands had a negative net margin of 113.85% and a negative return on equity of 7.40%.

Tilray Brands Price Performance

Shares of Tilray Brands stock traded up $0.01 during trading on Monday, reaching $0.70. The company's stock had a trading volume of 38,979,906 shares, compared to its average volume of 35,692,867. The business has a 50 day moving average price of $0.49 and a 200-day moving average price of $0.65. Tilray Brands has a 12-month low of $0.35 and a 12-month high of $2.15. The company has a market capitalization of $704.25 million, a P/E ratio of -0.67 and a beta of 1.82. The company has a quick ratio of 1.61, a current ratio of 2.62 and a debt-to-equity ratio of 0.12.

Wall Street Analysts Forecast Growth

TLRY has been the topic of several research analyst reports. Piper Sandler cut their price target on shares of Tilray Brands from $2.00 to $1.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 9th. Wall Street Zen lowered shares of Tilray Brands to a "strong sell" rating in a research note on Saturday, July 5th. Finally, Roth Capital reaffirmed a "neutral" rating on shares of Tilray Brands in a research note on Monday, April 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $1.92.

Institutional Investors Weigh In On Tilray Brands

A hedge fund recently raised its stake in Tilray Brands stock. AQR Capital Management LLC boosted its stake in shares of Tilray Brands, Inc. (NASDAQ:TLRY - Free Report) by 1,839.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 607,054 shares of the company's stock after buying an additional 575,757 shares during the quarter. AQR Capital Management LLC owned 0.06% of Tilray Brands worth $399,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 9.35% of the company's stock.

Tilray Brands Company Profile

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.

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