Tilray Brands (NASDAQ:TLRY) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Tilray Brands from a "strong sell" to a "hold" in its latest report.
• Analysts' consensus is a Hold (1 Buy, 6 Hold, 1 Sell) with an average price target of $13.33.
• Shares opened at $7.49 (12‑month range $3.51–$23.20) after Tilray reported a quarterly EPS of ($0.41) versus ($0.14) expected, reflecting deep negative margins and analysts' forecast of roughly -0.2 EPS for the year.

Tilray Brands (NASDAQ:TLRY - Get Free Report) was upgraded by Zacks Research from a "strong sell" rating to a "hold" rating in a report issued on Wednesday,Zacks.com reports.

Several other equities analysts also recently weighed in on the company. Canaccord Genuity Group started coverage on Tilray Brands in a research report on Tuesday, January 27th. They set a "hold" rating for the company. Roth Mkm dropped their price objective on Tilray Brands from $20.00 to $10.00 and set a "neutral" rating for the company in a research report on Tuesday, January 20th. Weiss Ratings restated a "sell (d-)" rating on shares of Tilray Brands in a report on Wednesday, January 21st. Finally, ATB Capital raised shares of Tilray Brands from a "strong sell" rating to a "hold" rating in a research note on Wednesday, December 10th. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $13.33.

Tilray Brands Stock Performance

Shares of TLRY opened at $7.49 on Wednesday. Tilray Brands has a 12-month low of $3.51 and a 12-month high of $23.20. The stock has a market cap of $872.66 million, a P/E ratio of -0.34 and a beta of 2.02. The company has a current ratio of 2.81, a quick ratio of 1.72 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average of $9.13 and a two-hundred day moving average of $10.98.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last released its quarterly earnings results on Thursday, January 8th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.27). Tilray Brands had a negative net margin of 251.69% and a negative return on equity of 6.35%. The business had revenue of $217.51 million during the quarter, compared to analyst estimates of $211.15 million. During the same quarter in the prior year, the company earned ($0.03) earnings per share. As a group, research analysts predict that Tilray Brands will post -0.2 EPS for the current fiscal year.

Institutional Trading of Tilray Brands

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TLRY. Silverlake Wealth Management LLC acquired a new stake in shares of Tilray Brands in the third quarter worth approximately $25,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Tilray Brands during the 3rd quarter worth $25,000. Unified Investment Management purchased a new position in shares of Tilray Brands in the 3rd quarter worth $26,000. J.W. Cole Advisors Inc. boosted its holdings in Tilray Brands by 203.2% in the second quarter. J.W. Cole Advisors Inc. now owns 71,890 shares of the company's stock valued at $30,000 after acquiring an additional 48,177 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Tilray Brands during the third quarter valued at about $30,000. Hedge funds and other 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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