Shares of Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $1.09, but opened at $1.06. Tilray Brands shares last traded at $1.07, with a volume of 5,121,543 shares.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on TLRY shares. Jefferies Financial Group upped their target price on Tilray Brands from $1.50 to $2.00 and gave the stock a "buy" rating in a research report on Monday, August 25th. Zelman & Associates reiterated a "neutral" rating on shares of Tilray Brands in a research note on Tuesday, July 29th. Finally, Wall Street Zen downgraded Tilray Brands to a "strong sell" rating in a research note on Saturday, July 5th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $1.94.
Get Our Latest Stock Report on Tilray Brands
Tilray Brands Trading Down 3.2%
The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.49 and a current ratio of 2.46. The company has a 50-day simple moving average of $0.89 and a 200 day simple moving average of $0.64. The company has a market capitalization of $1.16 billion, a P/E ratio of -0.46 and a beta of 2.03.
Tilray Brands (NASDAQ:TLRY - Get Free Report) last posted its earnings results on Monday, July 28th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.05. The business had revenue of $224.54 million during the quarter, compared to the consensus estimate of $250.41 million. Tilray Brands had a negative return on equity of 6.83% and a negative net margin of 265.69%. Sell-side analysts expect that Tilray Brands, Inc. will post -0.2 earnings per share for the current year.
Insider Activity at Tilray Brands
In other Tilray Brands news, CEO Irwin D. Simon purchased 165,000 shares of the company's stock in a transaction that occurred on Wednesday, July 30th. The stock was purchased at an average cost of $0.61 per share, with a total value of $100,650.00. Following the acquisition, the chief executive officer directly owned 3,941,633 shares of the company's stock, valued at approximately $2,404,396.13. This trade represents a 4.37% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.60% of the stock is owned by company insiders.
Institutional Investors Weigh In On Tilray Brands
A number of institutional investors have recently made changes to their positions in TLRY. Dimensional Fund Advisors LP grew its stake in shares of Tilray Brands by 54.8% during the fourth 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. Tower Research Capital LLC TRC lifted its holdings in shares of Tilray Brands by 55.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 31,875 shares of the company's stock valued at $42,000 after purchasing an additional 11,325 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Tilray Brands by 9.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 786,874 shares of the company's stock valued at $1,042,000 after purchasing an additional 71,202 shares in the last quarter. Schonfeld Strategic Advisors LLC increased its position in shares of Tilray Brands by 68.0% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 35,121 shares of the company's stock valued at $47,000 after acquiring an additional 14,221 shares during the last quarter. Finally, Captrust Financial Advisors increased its position in shares of Tilray Brands by 535.5% in the fourth quarter. Captrust Financial Advisors now owns 115,825 shares of the company's stock valued at $154,000 after acquiring an additional 97,600 shares during the last quarter. 9.35% of the stock is owned by institutional investors and hedge funds.
About Tilray Brands
(
Get Free Report)
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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