Susquehanna Financial Group LLLP recently announced the acquisition of new stake in Tilray Brands Inc. (NASDAQ:TLRY). The institutional investor has increased its shareholding in the Healthcare company by 18.67% to 8.35 million shares with purchase of 1.31 million shares. This fresh investment now brings its stake to 1.37% valued currently at $33.99 million. In addition, D. E. Shaw & Co. LP raised its holdings by 3.37 million to 3.4 million shares. And Millennium Management LLC has lifted its position by 8,495.90% or 2.67 million shares – to 2.7 million shares.
With over 13.79 million Tilray Brands Inc. (TLRY) shares trading Friday and a closing price of $3.86 on the day, the dollar volume was approximately $53.23 million. The shares have shown a negative half year performance of -18.22% and its price on 11/18/22 lost nearly -5.16%. Currently, there are 611.40M common shares owned by the public and among those 593.44M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 17 analysts who have offered their price forecasts for TLRY have a consensus price objective of $4.42. The analysts have set the share’s price value over the next 12 months at a high of $9.00 and a low of $2.00. The average price target is 9.81% above its recent price level and a downside to the estimated low will see the stock lose -93.0% over that period. But an upside of 57.11% will see the stock hit the forecast high price target while median target price for the stock is $3.96.
Insiders at the company have transacted a total of 46 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 21 of these insider trades were purchases, accounting for 707,947 shares. Insider sales of the common stock occurred on 25 occasions, with total insider shares sold totaling 1,762,916 shares.
The top 3 mutual fund holders in Tilray Brands Inc. are ETFMG Alternative Harvest ETF, Horizons Marijuana Life Sciences, and iShares Core S&P/TSX Capped Compo. ETFMG Alternative Harvest ETF owns 8.1 million shares of the company’s stock, all valued at over $32.97 million. Horizons Marijuana Life Sciences sold 28281.0 shares to see its total holdings shrink to 3.44 million shares valued at over $13.99 million and representing 0.56% of the shares outstanding. iShares Core S&P/TSX Capped Compo bought 1272.0 shares to bring its total holdings to over 1.81 million shares at a value of $7.37 million. iShares Core S&P/TSX Capped Compo now owns shares totaling to 0.30% of the shares outstanding.
Shares of Tilray Brands Inc. (NASDAQ: TLRY) opened at $4.08, up $0.01 from a prior closing price of $4.07. However, the script later moved the day high at 4.1000, down -5.16%. The company’s stock has a 5-day price change of -7.66% and 9.04% over the past three months. TLRY shares are trading -45.09% year to date (YTD), with the 12-month market performance down to -64.59% lower. It has a 12-month low price of $2.65 and touched a high of $12.14 over the same period. TLRY has an average intraday trading volume of 22.79 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.89%, 13.86%, and -12.96% respectively.
Institutional ownership of Tilray Brands Inc. (NASDAQ: TLRY) shares accounts for 12.50% of the company’s 611.40M shares outstanding. Mutual fund holders own 4.71%, while other institutional holders and individual stakeholders account for 7.03% and 11.86% respectively.
It has a market capitalization of $2.49B and a beta (3y monthly) value of 2.66. The earnings-per-share (ttm) stands at -$0.97. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.87% over the week and 8.64% over the month.
Analysts forecast that Tilray Brands Inc. (TLRY) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and -$0.3 for 2023. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Earnings per share for the fiscal year are expected to increase by 27.30%, and -275.00% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 17 brokerage firm advisors rate Tilray Brands Inc. (TLRY) as a “Hold” at a consensus score of 3.00. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 12 of the 17 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the TLRY, a number of firms have released research notes about the stock. Bernstein stated their Mkt Perform rating for the stock in a research note on November 02, 2022, with the firm’s price target at $3.90. The Benchmark Company coverage for the Tilray Brands Inc. (TLRY) stock in a research note released on July 29, 2022 offered a Sell rating with a price target of $3. Canaccord Genuity was of a view on March 04, 2022 that the stock is Buy, while Barclays gave the stock Underweight rating on November 18, 2021, issuing a price target of $10. Cantor Fitzgerald on their part issued Neutral rating on November 01, 2021.