Zacks Research Upgrades Tilray Brands (NASDAQ:TLRY) to Hold

Tilray Brands (NASDAQ:TLRY) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Several other analysts also recently issued reports on the company. Canaccord Genuity Group initiated coverage on Tilray Brands in a report on Tuesday, January 27th. They issued a “hold” rating for the company. Roth Mkm lowered their target price on Tilray Brands from $20.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, January 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tilray Brands in a report on Wednesday, January 21st. Finally, ATB Capital upgraded Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 10th. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $13.33.

Tilray Brands Trading Down 1.7%

Shares of TLRY stock opened at $7.49 on Wednesday. The stock has a market cap of $872.66 million, a price-to-earnings ratio of -0.34 and a beta of 2.02. The company has a quick ratio of 1.72, a current ratio of 2.81 and a debt-to-equity ratio of 0.19. Tilray Brands has a fifty-two week low of $3.51 and a fifty-two week high of $23.20. The firm’s 50 day moving average price is $9.13 and its two-hundred day moving average price is $10.98.

Tilray Brands (NASDAQ:TLRY) last released its quarterly earnings data 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 return on equity of 6.35% and a negative net margin of 251.69%.The business had revenue of $217.51 million during the quarter, compared to analyst estimates of $211.15 million. During the same period in the previous year, the company earned ($0.03) EPS. On average, analysts anticipate that Tilray Brands will post -0.2 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TLRY. Hilton Head Capital Partners LLC purchased a new position in Tilray Brands in the fourth quarter valued at about $38,000. IFP Advisors Inc raised its position in shares of Tilray Brands by 14.3% in the 4th quarter. IFP Advisors Inc now owns 60,318 shares of the company’s stock valued at $545,000 after purchasing an additional 7,541 shares in the last quarter. Integrated Wealth Concepts LLC boosted its stake in shares of Tilray Brands by 33.8% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 36,977 shares of the company’s stock valued at $64,000 after buying an additional 9,341 shares during the last quarter. CreativeOne Wealth LLC boosted its stake in shares of Tilray Brands by 12.2% during the 3rd quarter. CreativeOne Wealth LLC now owns 87,134 shares of the company’s stock valued at $151,000 after buying an additional 9,452 shares during the last quarter. Finally, Dudley Capital Management LLC grew its position in shares of Tilray Brands by 73.3% during the third quarter. Dudley Capital Management LLC now owns 26,000 shares of the company’s stock worth $45,000 after buying an additional 11,000 shares in the last quarter. Institutional investors and hedge funds own 9.35% of the company’s stock.

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.