Tilray Brands (NASDAQ:TLRY) Announces Quarterly Earnings Results

by · The Markets Daily

Tilray Brands (NASDAQ:TLRY – Get Free Report) posted its quarterly earnings data on Thursday. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.24), Zacks reports. Tilray Brands had a negative return on equity of 6.79% and a negative net margin of 258.54%.

Tilray Brands Stock Performance

NASDAQ TLRY traded up $0.14 during trading hours on Thursday, reaching $9.13. 6,989,198 shares of the company were exchanged, compared to its average volume of 5,947,262. Tilray Brands has a 1 year low of $3.51 and a 1 year high of $23.20. The business’s 50 day simple moving average is $10.26 and its 200-day simple moving average is $10.51. The company has a quick ratio of 1.56, a current ratio of 2.62 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $1.03 billion, a P/E ratio of -0.40 and a beta of 1.77.

Wall Street Analysts Forecast Growth

TLRY has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Tilray Brands in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Saturday, October 11th. Finally, Atb Cap Markets upgraded Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 10th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $20.00.

Check Out Our Latest Stock Report on Tilray Brands

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TLRY. Tidal Investments LLC raised its holdings in shares of Tilray Brands by 15.0% in the 2nd quarter. Tidal Investments LLC now owns 28,971,835 shares of the company’s stock worth $12,006,000 after purchasing an additional 3,776,410 shares during the period. Millennium Management LLC increased its position in Tilray Brands by 281.0% in the third quarter. Millennium Management LLC now owns 4,942,319 shares of the company’s stock worth $8,550,000 after buying an additional 3,645,060 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Tilray Brands in the third quarter worth $5,813,000. Ausdal Financial Partners Inc. bought a new stake in shares of Tilray Brands in the second quarter valued at $939,000. Finally, Scientech Research LLC purchased a new position in shares of Tilray Brands during the 3rd quarter valued at $1,748,000. 9.35% of the stock is owned by institutional investors.

Tilray Brands Company Profile

(Get Free Report)

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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