In the last trading session, 43.31 million shares of the Tilray Brands Inc (NASDAQ:TLRY) were traded, and its beta was 2.41. Most recently the company’s share price was $2.41, and it changed around -$0.02 or -0.82% from the last close, which brings the market valuation of the company to $1.79B. TLRY currently trades at a discount to its 52-week high of $3.40, offering almost -41.08% off that amount. The share price’s 52-week low was $1.50, which indicates that the current value has risen by an impressive 37.76% since then. We note from Tilray Brands Inc’s average daily trading volume that its 10-day average is 52.92 million shares, with the 3-month average coming to 25.94 million.
Tilray Brands Inc stock received a consensus recommendation rating of Buy, based on a mean score of 2.50. If we narrow it down even further, the data shows that 0 out of 3 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 0 recommended TLRY as a Hold, whereas 3 deemed it a Buy, and 0 rated it as Underweight. Tilray Brands Inc is expected to report earnings per share of -$0.05 for the current quarter.
Tilray Brands Inc (NASDAQ:TLRY) trade information
Instantly TLRY has showed a red trend with a performance of -0.82% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently up 4.78% year-to-date, but still up 12.09% over the last five days. On the other hand, Tilray Brands Inc (NASDAQ:TLRY) is 39.31% up in the 30-day period. We can see from the shorts that 119.31 million shares have been sold at a short interest cover period of 7.41 day(s).
The consensus price target as assigned by Wall Street analysts is $8.45, which translates to bulls needing to increase their stock price by 71.48% from its current value. Analyst projections state that TLRY is forecast to be at a low of $2 and a high of $19.
Tilray Brands Inc (TLRY) estimates and forecasts
Tilray Brands Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 0.84 percent over the past six months and at a -9.52% annual growth rate that is well below the industry average of 5.40%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 97.40% in revenue this quarter, and will report an increase of 80.00% in the next quarter. The year-over-year growth rate is expected to be 26.90%, up from the previous year.
Consensus estimates provided by 10 financial analysts predict the company will bring in an average of $199.71 million in revenue for the current quarter. 10 analysts expect Tilray Brands Inc to make $232.3 million in revenue for the quarter ending May 2024. Forecasts for the next quarter put sales growth at 26.10%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -23.57%. Tilray Brands Inc earnings are expected to increase by 90.61% in 2024, but the outlook is positive 37.00% per year for the next five years.
TLRY Dividends
Tilray Brands Inc’s next quarterly earnings report is expected to be released around April 08 and April 12.
Tilray Brands Inc (NASDAQ:TLRY)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 1.35% of Tilray Brands Inc shares, and 11.14% of them are in the hands of institutional investors. The stock currently has a share float of 11.29%. Tilray Brands Inc stock is held by 414 institutions, with ETF Managers Group, LLC being the largest institutional investor. By Mar 30, 2023, it held 1.04% of the shares, which is about 7.6 million shares worth $19.22 million.
Vanguard Group Inc, with 0.52% or 3.82 million shares worth $5.96 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.
ETF Managers Tr-EFTMG Alternative Harvest ETF and Global X Fds-The Global X Cannabis ETF were the top two Mutual Funds as of Jun 29, 2023. The former held 7.98 million shares worth $12.45 million, making up 1.09% of all outstanding shares. On the other hand, Global X Fds-The Global X Cannabis ETF held roughly 2.4 million shares worth around $5.72 million, which represents about 0.33% of the total shares outstanding.
