Tilray Brands, Inc. (NASDAQ:TLRY) Receives $13.33 Average PT from Analysts

Shares of Tilray Brands, Inc. (NASDAQ:TLRY) have received a consensus recommendation of “Hold” from the eight research firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $13.3333.

Several research analysts have recently commented on TLRY shares. Wall Street Zen lowered shares of Tilray Brands from a “hold” rating to a “sell” rating in a research note on Saturday. Roth Mkm reduced their target price on shares of Tilray Brands from $20.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, January 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Tilray Brands in a research report on Wednesday, January 21st. Canaccord Genuity Group initiated coverage on Tilray Brands in a research report on Tuesday, January 27th. They set a “hold” rating on the stock. Finally, ATB Cormark Capital Markets upgraded Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 10th.

Tilray Brands Trading Up 0.3%

Shares of NASDAQ TLRY opened at $7.51 on Friday. 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 stock has a market capitalization of $874.99 million, a PE ratio of -0.34 and a beta of 2.02. Tilray Brands has a twelve month low of $3.51 and a twelve month high of $23.20. The stock has a fifty day simple moving average of $9.14 and a 200-day simple moving average of $11.07.

Tilray Brands (NASDAQ:TLRY) last posted its earnings results on Thursday, January 8th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.27). The firm had revenue of $217.51 million for the quarter, compared to analyst estimates 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 company posted ($0.03) EPS. On average, equities analysts forecast that Tilray Brands will post -0.2 earnings per share for the current year.

Hedge Funds Weigh In On Tilray Brands

Institutional investors and hedge funds have recently made changes to their positions in the stock. Silverlake Wealth Management LLC acquired a new stake in Tilray Brands in the third quarter valued at approximately $25,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Tilray Brands in the 3rd quarter valued at approximately $25,000. Unified Investment Management purchased a new stake in shares of Tilray Brands in the 3rd quarter valued at approximately $26,000. J.W. Cole Advisors Inc. raised its holdings 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 valued at $30,000 after purchasing an additional 48,177 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Tilray Brands during the 3rd quarter worth $30,000. 9.35% of the stock is owned by institutional investors and hedge funds.

About Tilray Brands

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.