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 2.19% valued currently at $37.22 million. In addition, Millennium Management LLC raised its holdings by 11.83 million to 11.94 million shares.
Currently, there are 742.73M common shares owned by the public and among those 732.75M shares have been available to trade.
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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, iShares Core S&P/TSX Capped Compo, and Global X Cannabis ETF. ETFMG Alternative Harvest ETF owns 8.79 million shares of the company’s stock, all valued at over $20.22 million. iShares Core S&P/TSX Capped Compo sold 63375.0 shares to see its total holdings shrink to 2.5 million shares valued at over $5.76 million and representing 0.34% of the shares outstanding. Global X Cannabis ETF now owns shares totaling to 0.33% of the shares outstanding.
The company’s stock has a 5-day price change of 5.26% and 1.01% over the past three months. TLRY shares are trading -13.04% year to date (YTD), with the 12-month market performance down to -34.85% 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 19.17 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 -6.79%, 2.20%, and -6.62% respectively.
Institutional ownership of Tilray Brands Inc (NASDAQ: TLRY) shares accounts for 13.66% of the company’s 742.73M shares outstanding. Mutual fund holders own 10.32%, while other institutional holders and individual stakeholders account for 3.45% and 10.08% respectively.
It has a market capitalization of $1.49B and a beta (3y monthly) value of 2.35. The earnings-per-share (ttm) stands at -$2.28. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.75% over the week and 9.46% over the month.
Analysts forecast that Tilray Brands Inc (TLRY) will achieve an EPS of -$0.05 for the current quarter, -$0.04 for the next quarter and -$0.09 for 2025. The lowest estimate earnings-per-share for the quarter is -$0.07 while analysts give the company a high EPS estimate of -$0.03. Comparatively, EPS for the current quarter was -$1.9 a year ago. Earnings per share for the fiscal year are expected to increase by 90.49%, and 59.74% 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.
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.
