During the last session, Tilray Brands Inc. (NASDAQ:TLRY)’s traded shares were 10.43 million, with the beta value of the company hitting 2.64. At the end of the trading day, the stock’s price was $2.36, reflecting an intraday loss of -2.48% or -$0.06. The 52-week high for the TLRY share is $5.12, that puts it down -116.95 from that peak though still a striking 8.05% gain since the share price plummeted to a 52-week low of $2.17. The company’s market capitalization is $1.48B, and the average intraday trading volume over the past 10 days was 8.36 million shares, and the average trade volume was 10.70 million shares over the past three months.
Tilray Brands Inc. (TLRY) received a consensus recommendation of a Hold from analysts. That translates to a mean rating of 2.60. TLRY has a Sell rating from 0 analyst(s) out of 17 analysts who have looked at this stock. 13 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 4 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.05.
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Tilray Brands Inc. (NASDAQ:TLRY) trade information
Tilray Brands Inc. (TLRY) registered a -2.48% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -2.48% in intraday trading to $2.36 this Thursday, 05/25/23, hitting a weekly high. The stock’s 5-day price performance is -3.28%, and it has moved by 8.26% in 30 days. Based on these gigs, the overall price performance for the year is -44.60%. The short interest in Tilray Brands Inc. (NASDAQ:TLRY) is 49.5 million shares and it means that shorts have 4.67 day(s) to cover.
The consensus price target of analysts on Wall Street is $3.31, which implies an increase of 28.7% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $2.25 and $5.00 respectively. As a result, TLRY is trading at a discount of -111.86% off the target high and 4.66% off the low.
Tilray Brands Inc. (TLRY) estimates and forecasts
Statistics show that Tilray Brands Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Tilray Brands Inc. (TLRY) shares have gone down -35.52% during the last six months, with a year-to-date growth rate less than the industry average at 0.00% against 4.30. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to grow 94.40% this quarter and then jump 61.50% in the quarter after that. In the rating firms’ projections, revenue will decrease -4.90% compared to the previous financial year.
Revenue for the current quarter is expected to be $153.27 million as predicted by 11 analyst(s). Meanwhile, a consensus of 8 analyst(s) estimates revenue growth to $160.41 million by the end of Aug 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $153.32 million and $153.21 million respectively.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -63.40%. While earnings are projected to return 27.30% in 2023, the next five years will return 37.00% per annum.
Tilray Brands Inc. is due to release its next quarterly earnings between July 26 and July 31. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Tilray Brands Inc. (NASDAQ:TLRY)’s Major holders
Tilray Brands Inc. insiders own 1.41% of total outstanding shares while institutional holders control 11.70%, with the float percentage being 11.86%. ETF Managers Group, LLC is the largest shareholder of the company, while 404 institutions own stock in it. As of Mar 30, 2023, the company held over 7.6 million shares (or 1.23% of all shares), a total value of $19.22 million in shares.
The next largest institutional holding, with 3.52 million shares, is of Susquehanna International Group, LLP’s that is approximately 0.57% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $8.9 million.
Also, the Mutual Funds coming in first place with the largest holdings of Tilray Brands Inc. (TLRY) shares are ETF Managers Tr-EFTMG Alternative Harvest ETF and Global X Fds-The Global X Cannabis ETF. Data provided on Dec 30, 2022 indicates that ETF Managers Tr-EFTMG Alternative Harvest ETF owns about 7.78 million shares. This amounts to just over 1.26 percent of the company’s overall shares, with a $20.93 million market value. The same data shows that the other fund manager holds slightly less at 2.7 million, or about 0.44% of the stock, which is worth about $6.83 million.