Tilray Brands Inc (NASDAQ: TLRY) stock jumped 4.57% on Friday to $1.83 against a previous-day closing price of $1.75. With 12.85 million shares changed hands, the volume of the stock remained lighter than its average volume of 23.85 million shares. During the session, the Drug Manufacturers – Specialty & Generic company that operates in wider Healthcare sector, reached to the highest price of $1.8400 whereas the lowest price it dropped to was $1.7300. The 52-week range on TLRY shows that it touched its highest point at $5.12 and its lowest point at $1.50 during that stretch. It currently has a 1-year price target of $2.82. Beta for the stock currently stands at 2.34.
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 9.58%, but this was down by -4.19% over a month. Three-month performance dropped to -26.51% while six-month performance fell -24.07%. The stock lost -55.15% in the past year, while it has lost -31.97% so far this year. A look at the trailing 12-month EPS for TLRY yields -2.33 with Next year EPS estimates of -0.12. For the next quarter, that number is -0.05. This implies an EPS growth rate of 91.32% for this year and 41.04% for next year. EPS is expected to grow by 37.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -23.57%.
Float and Shares Shorts:
At present, 730.29 million TLRY shares are outstanding with a float of 720.32 million shares on hand for trading. On Oct 30, 2023, short shares totaled 111.96 million, which was 15.33% higher than short shares on Sep 28, 2023. In addition to Mr. Irwin David Simon as the firm’s President, CEO & Chairman, Mr. Carl A. Merton CA, CBV, CPA serves as its CFO & Principal Accounting Officer.
Through their ownership of 10.03% of TLRY’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 3.32% of TLRY, in contrast to 10.55% held by mutual funds. Shares owned by individuals account for 10.20%. As the largest shareholder in TLRY with 2.22% of the stake, Hudson Bay Capital Management LP holds 16,181,157 shares worth 16,181,157. A second-largest stockholder of TLRY, Millennium Management LLC, holds 11,942,602 shares, controlling over 1.64% of the firm’s shares. ETF Managers Group LLC is the third largest shareholder in TLRY, holding 8,117,180 shares or 1.11% stake. With a 0.98% stake in TLRY, the ETFMG Alternative Harvest ETF is the largest stakeholder. A total of 7,182,757 shares are owned by the mutual fund manager. The Global X Cannabis ETF, which owns about 0.33% of TLRY stock, is the second-largest Mutual Fund holder. It holds 2,412,919 shares valued at 122.71 million. Vanguard Health Care Index Fund holds 0.31% of the stake in TLRY, owning 2,275,197 shares worth 115.7 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TLRY since 0 analysts follow the stock currently. 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 $4.25 and a low target of $2.00, the average target price over the next 12 months is $2.82. Based on these targets, TLRY could surge 132.24% to reach the target high and rise by 9.29% to reach the target low. Reaching the average price target will result in a growth of 54.1% from current levels.
Summary of Insider Activity:
Insiders traded TLRY stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 27 while that of sell transactions has risen to 23 over the past year. The total number of shares bought during that period was 3,783,368 while 1,928,333 shares were sold.