Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) shares were down 2% during mid-day trading on Wednesday . The stock traded as low as $1.40 and last traded at $1.45. Approximately 88,216,536 shares were traded during mid-day trading, an increase of 76% from the average daily volume of 50,010,738 shares. The stock had previously closed at $1.48.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on TLRY shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Tilray Brands in a research note on Wednesday, October 8th. Jefferies Financial Group lifted their price target on Tilray Brands from $1.50 to $2.00 and gave the company a "buy" rating in a research note on Monday, August 25th. Zelman & Associates reiterated a "neutral" rating on shares of Tilray Brands in a research note on Tuesday, July 29th. Atb Cap Markets lowered Tilray Brands from a "hold" rating to a "strong sell" rating in a research note on Thursday, October 9th. Finally, Wall Street Zen upgraded Tilray Brands from a "strong sell" rating to a "hold" rating in a research report on Saturday, October 11th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Tilray Brands has an average rating of "Hold" and an average target price of $2.00.
View Our Latest Research Report on Tilray Brands
Tilray Brands Price Performance
The firm has a market cap of $1.63 billion, a P/E ratio of -0.64 and a beta of 1.98. The company has a current ratio of 2.62, a quick ratio of 1.56 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average of $1.36 and a two-hundred day moving average of $0.80.
Tilray Brands (NASDAQ:TLRY - Get Free Report) last issued its quarterly earnings data on Thursday, October 9th. The company reported $0.00 earnings per share for the quarter, topping analysts' consensus estimates of ($0.03) by $0.03. The business had revenue of $209.50 million for the quarter, compared to analyst estimates of $205.75 million. Tilray Brands had a negative return on equity of 6.79% and a negative net margin of 258.54%. On average, sell-side analysts anticipate that Tilray Brands, Inc. will post -0.2 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, CEO Irwin D. Simon bought 165,000 shares of the business's stock in a transaction on Wednesday, July 30th. The shares were 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 owned 3,941,633 shares of the company's stock, valued at $2,404,396.13. This represents a 4.37% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.84% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Tidal Investments LLC lifted its holdings in Tilray Brands by 15.0% during the 2nd quarter. Tidal Investments LLC now owns 28,971,835 shares of the company's stock worth $12,006,000 after buying an additional 3,776,410 shares during the period. Ausdal Financial Partners Inc. acquired a new position in Tilray Brands during the 2nd quarter worth about $939,000. Swiss National Bank lifted its holdings in Tilray Brands by 6.1% during the 2nd quarter. Swiss National Bank now owns 1,928,138 shares of the company's stock worth $799,000 after buying an additional 111,500 shares during the period. Quinn Opportunity Partners LLC lifted its holdings in Tilray Brands by 11.6% during the 2nd quarter. Quinn Opportunity Partners LLC now owns 1,918,080 shares of the company's stock worth $795,000 after buying an additional 200,000 shares during the period. Finally, TD Asset Management Inc lifted its holdings in Tilray Brands by 6.5% during the 1st quarter. TD Asset Management Inc now owns 1,627,247 shares of the company's stock worth $1,063,000 after buying an additional 100,017 shares during the period. 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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