Tilray Brands (NASDAQ:TLRY) Stock Price Down 3.3% - What's Next?

Key Points

• Shares fell 3.3% to about $7.06, trading as low as $6.97 with roughly 3.49 million shares changing hands—about 16% below the stock's average daily volume.
• Analysts' consensus is a Hold (1 Buy, 6 Hold, 1 Sell) with an average price target of $13.33.
• Tilray remains unprofitable despite a recent quarter that beat estimates (EPS -$0.02 vs. -$0.14; revenue $217.5M vs. $211.2M); key metrics show a negative P/E (-0.32), negative net margin (251.69%), and negative ROE (6.35%).

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) shares were down 3.3% on Thursday . The company traded as low as $6.97 and last traded at $7.06. Approximately 3,492,632 shares traded hands during mid-day trading, a decline of 16% from the average daily volume of 4,135,113 shares. The stock had previously closed at $7.30.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Zacks Research raised shares of Tilray Brands from a "strong sell" rating to a "hold" rating in a report on Wednesday, February 11th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Tilray Brands in a research note on Wednesday, January 21st. ATB Cormark Capital Markets raised Tilray Brands from a "strong sell" rating to a "hold" rating in a research note on Wednesday, December 10th. Canaccord Genuity Group began coverage on Tilray Brands in a report on Tuesday, January 27th. They set a "hold" rating for the company. Finally, Wall Street Zen upgraded Tilray Brands from a "sell" rating to a "hold" rating in a research report on Sunday, February 22nd. One research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $13.33.

Tilray Brands Price Performance

The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.72 and a current ratio of 2.81. The business has a 50-day simple moving average of $8.40 and a 200 day simple moving average of $11.00. The firm has a market cap of $822.54 million, a P/E ratio of -0.32 and a beta of 1.96.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last posted its earnings results on Thursday, January 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.12. The firm had revenue of $217.51 million for the quarter, compared to analysts' expectations of $211.15 million. Tilray Brands had a negative return on equity of 6.35% and a negative net margin of 251.69%.During the same period in the previous year, the firm earned ($0.03) earnings per share. On average, analysts anticipate that Tilray Brands, Inc. will post -0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tilray Brands

A number of large investors have recently modified their holdings of TLRY. Silverlake Wealth Management LLC bought a new position in Tilray Brands in the third quarter worth about $25,000. Oppenheimer & Co. Inc. bought a new stake in Tilray Brands during the 3rd quarter valued at approximately $25,000. Unified Investment Management purchased a new position in shares of Tilray Brands during the 3rd quarter worth approximately $26,000. J.W. Cole Advisors Inc. raised its position in shares of Tilray Brands by 203.2% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 71,890 shares of the company's stock worth $30,000 after acquiring an additional 48,177 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Tilray Brands in the 3rd quarter worth approximately $30,000. Institutional investors own 9.35% of the company's stock.

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.

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