Hudson Bay Capital Management LP recently announced the acquisition of new stake in Tilray Brands Inc (NASDAQ:TLRY). This fresh investment now brings its stake to 2.22% valued currently at $861.21 million. In addition, Millennium Management LLC raised its holdings by 11.83 million to 11.94 million shares.
With over 20.63 million Tilray Brands Inc (TLRY) shares trading Friday and a closing price of $2.06 on the day, the dollar volume was approximately $42.51 million. The shares have shown a positive half year performance of 31.73% and its price on 12/15/23 lost nearly -0.24%. Currently, there are 730.29M common shares owned by the public and among those 720.45M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 18 analysts who have offered their price forecasts for TLRY have a consensus price objective of $2.81. The analysts have set the share’s price value over the next 12 months at a high of $4.25 and a low of $2.00. The average price target is 26.69% above its recent price level and a downside to the estimated low will see the stock lose -3.0% over that period. But an upside of 51.53% will see the stock hit the forecast high price target while median target price for the stock is $2.60.
Insiders at the company have transacted a total of 50 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 27 of these insider trades were purchases, accounting for 3,783,368 shares. Insider sales of the common stock occurred on 23 occasions, with total insider shares sold totaling 1,928,333 shares.
The top 3 mutual fund holders in Tilray Brands Inc are ETFMG Alternative Harvest ETF, Global X Cannabis ETF, and iShares Core S&P/TSX Capped Compo. ETFMG Alternative Harvest ETF owns 8.79 million shares of the company’s stock, all valued at over $467.97 million. iShares Core S&P/TSX Capped Compo bought 4698.0 shares to bring its total holdings to over 2.33 million shares at a value of $124.14 million. iShares Core S&P/TSX Capped Compo now owns shares totaling to 0.32% of the shares outstanding.
Shares of Tilray Brands Inc (NASDAQ: TLRY) opened at $2.07, up $0.01 from a prior closing price of $2.06. However, the script later moved the day high at 2.1050, down -0.24%. The company’s stock has a 5-day price change of 7.03% and -19.73% over the past three months. TLRY shares are trading -23.61% year to date (YTD), with the 12-month market performance down to -39.38% lower. It has a 12-month low price of $1.50 and touched a high of $3.59 over the same period. TLRY has an average intraday trading volume of 16.37 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 11.14%, 10.38%, and -6.12% respectively.
Institutional ownership of Tilray Brands Inc (NASDAQ: TLRY) shares accounts for 13.83% of the company’s 730.29M shares outstanding. Mutual fund holders own 10.43%, while other institutional holders and individual stakeholders account for 3.46% and 10.20% respectively.
It has a market capitalization of $1.50B and a beta (3y monthly) value of 2.32. The earnings-per-share (ttm) stands at -$2.33. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.85% over the week and 5.93% over the month.
Analysts forecast that Tilray Brands Inc (TLRY) will achieve an EPS of -$0.06 for the current quarter, -$0.06 for the next quarter and -$0.15 for 2025. The lowest estimate earnings-per-share for the quarter is -$0.07 while analysts give the company a high EPS estimate of -$0.04. Comparatively, EPS for the current quarter was -$0.11 a year ago. Earnings per share for the fiscal year are expected to increase by 91.30%, and 41.18% over the next financial year. EPS should grow at an annualized rate of 37.00% over the next five years, compared to -23.57% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 18 brokerage firm advisors rate Tilray Brands Inc (TLRY) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 13 of the 18 advise that investors “hold,” and 0 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.
