Tilray Brands Inc (NASDAQ: TLRY) Surprises Bears, Looks Strong Going Forward

In the latest trading session, 4.66 million Tilray Brands Inc (NASDAQ:TLRY) shares changed hands as the company’s beta touched 2.34. With the company’s most recent per share price at $1.89 changing hands around $0.01 or 0.80% at last look, the market valuation stands at $1.41B. TLRY’s current price is a discount, trading about -79.89% off its 52-week high of $3.40. The share price had its 52-week low at $1.50, which suggests the last value was 20.63% up since then. When we look at Tilray Brands Inc’s average trading volume, we note the 10-day average is 19.69 million shares, with the 3-month average coming to 1.08.

Tilray Brands Inc (NASDAQ:TLRY) trade information

Instantly TLRY is in green as seen in intraday trades today. With action 4.70%, the performance over the past five days has been green. The jump to weekly highs of 1.9700 added 0.80% to the stock’s daily price. The company’s shares are showing year-to-date downside of -17.61%, with the 5-day performance at 4.70% in the green. However, in the 30-day time frame, Tilray Brands Inc (NASDAQ:TLRY) is -0.26% down. Looking at the short shares, we see there were 111.88 million shares sold at short interest cover period of 4.44 days.

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Tilray Brands Inc (TLRY) estimates and forecasts

Data shows that the Tilray Brands Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -27.67% over the past 6 months, a -9.52% in annual growth rate that is considerably lower than the industry average of 4.20%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -23.57%. The 2024 estimates are for Tilray Brands Inc earnings to increase by 90.61%, 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 April 08 and April 12.

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

If we look at who the major shareholders are, we find that insiders hold 1.35% of Tilray Brands Inc shares while 13.53% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 13.72%. There are 13.53% 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 1.04% of the shares, roughly 7.6 million TLRY shares worth $19.22 million.

Vanguard Group Inc holds the second largest percentage of outstanding shares, with 0.52% or 3.82 million shares worth $5.96 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 $12.45 million under it, the former controlled 1.09% of total outstanding shares. On the other hand, Global X Fds-The Global X Cannabis ETF held about 0.33% of the shares, roughly 2.4 million shares worth around $5.72 million.

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