Brokerages Set Tilray Brands, Inc. (NASDAQ:TLRY) Price Target at $11.20

Shares of Tilray Brands, Inc. (NASDAQ:TLRY) have been given an average rating of “Hold” by the nine research firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $11.20.

Several brokerages have recently issued reports on TLRY. Wall Street Zen raised Tilray Brands from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. ATB Cormark Capital Markets reduced their target price on Tilray Brands from $9.50 to $9.00 and set a “sector perform” rating on the stock in a report on Thursday, April 2nd. Roth Mkm raised Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a report on Thursday, April 2nd. TD Cowen reduced their target price on Tilray Brands from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Monday, March 30th. Finally, Zacks Research raised Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 11th.

Institutional Investors Weigh In On Tilray Brands

Large investors have recently added to or reduced their stakes in the stock. Hilton Head Capital Partners LLC bought a new stake in Tilray Brands during the fourth quarter worth approximately $38,000. Engineers Gate Manager LP bought a new stake in Tilray Brands during the fourth quarter worth approximately $126,000. Oppenheimer & Co. Inc. bought a new stake in Tilray Brands during the third quarter worth approximately $25,000. Silverlake Wealth Management LLC bought a new stake in Tilray Brands during the third quarter worth approximately $25,000. Finally, Unified Investment Management bought a new stake in Tilray Brands during the third quarter worth approximately $26,000. 9.35% of the stock is owned by institutional investors.

Tilray Brands Trading Down 3.0%

Shares of TLRY stock opened at $6.46 on Friday. Tilray Brands has a 12-month low of $3.51 and a 12-month high of $23.20. The company has a current ratio of 2.79, a quick ratio of 1.72 and a debt-to-equity ratio of 0.19. The stock’s 50-day moving average price is $7.18 and its 200-day moving average price is $10.08. The stock has a market capitalization of $752.64 million, a price-to-earnings ratio of -0.47 and a beta of 2.00.

Tilray Brands (NASDAQ:TLRY) last issued its earnings results on Wednesday, April 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.10). Tilray Brands had a negative return on equity of 3.31% and a negative net margin of 156.51%.The firm had revenue of $206.73 million during the quarter, compared to the consensus estimate of $201.35 million. During the same period last year, the firm posted ($0.87) earnings per share. Equities research analysts predict that Tilray Brands will post -0.2 EPS for the current fiscal year.

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.