Tilray Brands (NASDAQ:TLRY) Research Coverage Started at Canaccord Genuity Group

Canaccord Genuity Group started coverage on shares of Tilray Brands (NASDAQ:TLRY) in a research note published on Tuesday, MarketBeat.com reports. The firm issued a hold rating on the stock.

Several other research analysts also recently commented on TLRY. Wall Street Zen raised Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Saturday, October 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Tilray Brands in a research report on Wednesday, January 21st. Roth Mkm cut their price objective on Tilray Brands from $20.00 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 20th. Atb Cap Markets raised shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 10th. Finally, Zacks Research lowered shares of Tilray Brands from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 13th. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $13.33.

Tilray Brands Trading Down 2.9%

TLRY opened at $7.62 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.81 and a quick ratio of 1.72. Tilray Brands has a fifty-two week low of $3.51 and a fifty-two week high of $23.20. The company’s 50 day moving average price is $9.36 and its two-hundred day moving average price is $10.92. The firm has a market capitalization of $887.81 million, a price-to-earnings ratio of -0.34 and a beta of 1.77.

Tilray Brands (NASDAQ:TLRY) last released its quarterly 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). 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 for the quarter, compared to the consensus estimate of $211.15 million. During the same period in the previous year, the business posted ($0.03) EPS. As a group, research analysts predict that Tilray Brands will post -0.2 earnings per share for the current year.

Institutional Investors Weigh In On Tilray Brands

A number of hedge funds have recently added to or reduced their stakes in TLRY. Integrated Wealth Concepts LLC boosted its position in Tilray Brands by 33.8% during the third quarter. Integrated Wealth Concepts LLC now owns 36,977 shares of the company’s stock worth $64,000 after purchasing an additional 9,341 shares during the period. CreativeOne Wealth LLC boosted its holdings in Tilray Brands by 12.2% in the 3rd quarter. CreativeOne Wealth LLC now owns 87,134 shares of the company’s stock worth $151,000 after buying an additional 9,452 shares during the period. Dudley Capital Management LLC grew its stake in Tilray Brands by 73.3% in the 3rd quarter. Dudley Capital Management LLC now owns 26,000 shares of the company’s stock valued at $45,000 after buying an additional 11,000 shares in the last quarter. Arizona State Retirement System raised its holdings in Tilray Brands by 4.3% during the 3rd quarter. Arizona State Retirement System now owns 307,193 shares of the company’s stock valued at $531,000 after acquiring an additional 12,675 shares during the period. Finally, Brighton Jones LLC raised its holdings in Tilray Brands by 28.3% during the 3rd quarter. Brighton Jones LLC now owns 59,510 shares of the company’s stock valued at $103,000 after acquiring an additional 13,137 shares during the period. 9.35% of the stock is currently owned by institutional investors.

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.