This trade activity should not be overlooked: Tilray Brands Inc. (TLRY)

Tilray Brands Inc. (NASDAQ: TLRY) stock jumped 4.26% on Monday to $3.18 against a previous-day closing price of $3.05. With 20.2 million shares changed hands, the volume of the stock remained lighter than its average volume of 21.75 million shares. During the session, the Drug Manufacturers – Specialty & Generic company that operates in wider Healthcare sector, reached to the highest price of $3.2350 whereas the lowest price it dropped to was $3.0600. The 52-week range on TLRY shows that it touched its highest point at $9.08 and its lowest point at $2.52 during that stretch. It currently has a 1-year price target of $4.05. Beta for the stock currently stands at 2.67.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of TLRY was up-trending over the past week, with a rise of 0.32%, but this was up by 12.37% over a month. Three-month performance dropped to -3.05% while six-month performance fell -9.14%. The stock lost -46.28% in the past year, while it has gained 18.22% so far this year. A look at the trailing 12-month EPS for TLRY yields -1.08 with Next year EPS estimates of -0.17.

Float and Shares Shorts:

At present, 611.71 million TLRY shares are outstanding with a float of 606.06 million shares on hand for trading. On Oct 13, 2022, short shares totaled 60.14 million, which was 9.84% higher than short shares on Sep 14, 2022. In addition to Mr. Irwin David Simon as the firm’s Pres, CEO & Chairman, Mr. Carl A. Merton CA, CBV, CPA serves as its CFO & Principal Accounting Officer.

Institutional Ownership:

Through their ownership of 11.50% of TLRY’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 6.89% of TLRY, in contrast to 4.86% held by mutual funds. Shares owned by individuals account for 11.86%. As the largest shareholder in TLRY with 1.37% of the stake, Susquehanna Financial Group LLLP holds 8,350,726 shares worth 8,350,726. A second-largest stockholder of TLRY, ETF Managers Group LLC, holds 7,862,260 shares, controlling over 1.29% of the firm’s shares. D. E. Shaw & Co. LP is the third largest shareholder in TLRY, holding 3,399,798 shares or 0.56% stake. With a 1.27% stake in TLRY, the ETFMG Alternative Harvest ETF is the largest stakeholder. A total of 7,769,742 shares are owned by the mutual fund manager. The Horizons Marijuana Life Sciences, which owns about 0.55% of TLRY stock, is the second-largest Mutual Fund holder. It holds 3,371,828 shares valued at 9.07 million. Global X Cannabis ETF holds 0.39% of the stake in TLRY, owning 2,396,205 shares worth 6.45 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TLRY since 18 analysts follow the stock currently. There are 4 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 14 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With TLRY analysts setting a high price target of $9.00 and a low target of $2.85, the average target price over the next 12 months is $4.15. Based on these targets, TLRY could surge 183.02% to reach the target high and fall by -10.38% to reach the target low. Reaching the average price target will result in a growth of 30.5% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. TLRY will report FY 2023 earnings on 07/27/2023. Analysts have provided yearly estimates in a range of -$0.15 being high and -$0.42 being low. For TLRY, this leads to a yearly average estimate of -$0.30. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Tilray Brands Inc. surprised analysts by -$0.05 when it reported -$0.11 EPS against a consensus estimate of -$0.06. The surprise factor in the prior quarter was -$0.06. Based on analyst estimates, the high estimate for the next quarter is -$0.02 and the low estimate is -$0.09. The average estimate for the next quarter is thus -$0.05.

Summary of Insider Activity:

Insiders traded TLRY stock several times over the past three months with 0 Buys and 1 Sells. In these transactions, 0 shares were bought while 350,000 shares were sold. The number of buy transactions has increased to 21 while that of sell transactions has risen to 26 over the past year. The total number of shares bought during that period was 707,947 while 2,112,916 shares were sold.

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