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Could Tilray Brands Inc. (NASDAQ: TLRY) Post Life-Changing Returns?

In the last trading session, 43.6 million Tilray Brands Inc. (NASDAQ:TLRY) shares changed hands as the company’s beta touched 2.42. With the company’s per share price at $2.93 changed hands at -$0.05 or -1.68% during last session, the market valuation stood at $2.10B. TLRY’s last price was a discount, traded about -74.74% off its 52-week high of $5.12. The share price had its 52-week low at $1.50, which suggests the last value was 48.81% up since then. When we look at Tilray Brands Inc.’s average trading volume, we note the 10-day average is 51.24 million shares, with the 3-month average coming to 29.96 million.

Analysts gave the Tilray Brands Inc. (TLRY) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.60. If we narrow down to specifics, the data shows that 0 out of 18 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 13 recommended TLRY as a Hold, 5 felt it is a Buy and 0 rated the stock as Underweight. Tilray Brands Inc.’s EPS for the current quarter is expected to be -$0.05.

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Tilray Brands Inc. (NASDAQ:TLRY) trade information

Instantly TLRY was in red as seen at the end of in last trading. With action -2.98%, the performance over the past five days has been red. The drop to weekly highs of 3.37 on Friday, 09/15/23 subtracted -1.68% to the stock’s daily price. The company’s shares are showing year-to-date upside of 8.92%, with the 5-day performance at -2.98% in the red. However, in the 30-day time frame, Tilray Brands Inc. (NASDAQ:TLRY) is 11.41% up. Looking at the short shares, we see there were 89.13 million shares sold at short interest cover period of 2.71 days.

The consensus price target for the stock as assigned by Wall Street analysts is $2.68, meaning bulls need a downside of -9.33% from its current market value. According to analyst projections, TLRY’s forecast low is $1.90 with $4.25 as the target high. To hit the forecast high, the stock’s price needs a -45.05% plunge from its current level, while the stock would need to tank 35.15% for it to hit the projected low.

Tilray Brands Inc. (TLRY) estimates and forecasts

Data shows that the Tilray Brands Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 13.57% over the past 6 months, a 14.29% in annual growth rate that is considerably higher than the industry average of 0.10%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Tilray Brands Inc. will rise 61.50%, while the growth in revenue is estimated to hit 54.50% for the next quarter. Year-over-year growth is forecast to reach 16.20% up from the last financial year.

Consensus estimates given by 12 financial analysts project the company’s revenue in the current quarter to hit an average of $174 million. 12 analysts are of the opinion that Tilray Brands Inc.’s revenue for the quarter ending Nov 2023 will be $178.48 million. The company’s revenue for the corresponding quarters a year ago was $153.21 million. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 13.60%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -23.60%. The 2023 estimates are for Tilray Brands Inc. earnings to decrease by -137.20%, but the outlook for the next 5-year period is at 37.00% per year.

TLRY Dividends

Tilray Brands Inc. is expected to release its next quarterly earnings report between October 05 and October 09.

Tilray Brands Inc. (NASDAQ:TLRY)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 1.40% of Tilray Brands Inc. shares while 10.03% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 10.17%. There are 10.03% institutions holding the Tilray Brands Inc. stock share, with ETF Managers Group, LLC the top institutional holder. As of Mar 30, 2023, the company held 1.31% of the shares, roughly 7.6 million TLRY shares worth $22.26 million.

Vanguard Group Inc holds the second largest percentage of outstanding shares, with 0.66% or 3.82 million shares worth $11.19 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were ETF Managers Tr-EFTMG Alternative Harvest ETF and Global X Fds-The Global X Cannabis ETF. With 7.98 million shares estimated at $23.38 million under it, the former controlled 1.38% of total outstanding shares. On the other hand, Global X Fds-The Global X Cannabis ETF held about 0.53% of the shares, roughly 3.05 million shares worth around $8.93 million.

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