Brokerages Set Tilray Brands, Inc. (NASDAQ:TLRY) Price Target at $2.00

Shares of Tilray Brands, Inc. (NASDAQ:TLRY) have earned a consensus rating of “Hold” from the seven research firms that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $2.00.

A number of research firms have recently commented on TLRY. Weiss Ratings restated a “sell (d-)” rating on shares of Tilray Brands in a research report on Wednesday, October 8th. Zelman & Associates reissued a “neutral” rating on shares of Tilray Brands in a research note on Tuesday, July 29th. Jefferies Financial Group boosted their price target on shares of Tilray Brands from $1.50 to $2.00 and gave the stock a “buy” rating in a report on Monday, August 25th. Atb Cap Markets cut shares of Tilray Brands from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 9th. Finally, Wall Street Zen raised shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Saturday, October 11th.

Tilray Brands Trading Up 2.5%

Shares of Tilray Brands stock opened at $1.24 on Thursday. The firm has a 50-day simple moving average of $1.39 and a two-hundred day simple moving average of $0.89. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.56 and a current ratio of 2.62. Tilray Brands has a fifty-two week low of $0.35 and a fifty-two week high of $2.32. The company has a market cap of $1.39 billion, a P/E ratio of -0.55 and a beta of 2.04.

Tilray Brands (NASDAQ:TLRY) last posted its earnings results on Thursday, October 9th. The company reported $0.00 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.03. The firm had revenue of $209.50 million for the quarter, compared to analysts’ expectations of $205.75 million. Tilray Brands had a negative return on equity of 6.79% and a negative net margin of 258.54%. As a group, equities analysts predict that Tilray Brands will post -0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tilray Brands

Several large investors have recently bought and sold shares of the company. Silverlake Wealth Management LLC purchased a new stake in shares of Tilray Brands during the third quarter worth approximately $25,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Tilray Brands during the third quarter worth $25,000. Unified Investment Management purchased a new stake in shares of Tilray Brands during the third quarter worth $26,000. J.W. Cole Advisors Inc. raised its position in shares of 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 buying an additional 48,177 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Tilray Brands in the third quarter worth about $30,000. 9.35% of the stock is currently owned by hedge funds and other institutional investors.

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.