Pictet Asset Management Holding SA Cuts Position in Tilray Brands, Inc. $TLRY

Pictet Asset Management Holding SA decreased its holdings in Tilray Brands, Inc. (NASDAQ:TLRY) by 88.1% in the 4th quarter, HoldingsChannel reports. The fund owned 13,242 shares of the company’s stock after selling 97,595 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Tilray Brands were worth $120,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of TLRY. Tidal Investments LLC raised its position in Tilray Brands by 15.0% in the second quarter. Tidal Investments LLC now owns 28,971,835 shares of the company’s stock worth $12,006,000 after acquiring an additional 3,776,410 shares in the last quarter. Millennium Management LLC raised its position in Tilray Brands by 281.0% in the third quarter. Millennium Management LLC now owns 4,942,319 shares of the company’s stock worth $8,550,000 after acquiring an additional 3,645,060 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Tilray Brands in the third quarter worth $5,813,000. Ausdal Financial Partners Inc. purchased a new position in Tilray Brands in the second quarter worth $939,000. Finally, Scientech Research LLC purchased a new position in Tilray Brands in the third quarter worth $1,748,000. Hedge funds and other institutional investors own 9.35% of the company’s stock.

Tilray Brands Stock Down 0.9%

Tilray Brands stock opened at $5.51 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.66 and a current ratio of 2.79. The firm has a market capitalization of $642.19 million, a price-to-earnings ratio of -0.40 and a beta of 1.94. Tilray Brands, Inc. has a fifty-two week low of $3.51 and a fifty-two week high of $23.20. The stock’s fifty day moving average is $6.70 and its two-hundred day moving average is $8.67.

Tilray Brands (NASDAQ:TLRY) last posted its earnings results on Wednesday, April 1st. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.10). The firm had revenue of $206.73 million during the quarter, compared to analyst estimates of $201.35 million. Tilray Brands had a negative net margin of 156.51% and a negative return on equity of 3.31%. During the same period last year, the company posted ($0.87) EPS. Analysts predict that Tilray Brands, Inc. will post -0.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Zacks Research upgraded Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 11th. Weiss Ratings upgraded Tilray Brands from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, April 29th. ATB Cormark Capital Markets cut their price objective on Tilray Brands from $9.50 to $9.00 and set a “sector perform” rating for the company in a research report on Thursday, April 2nd. Wall Street Zen upgraded Tilray Brands from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Finally, Canaccord Genuity Group assumed coverage on Tilray Brands in a research report on Tuesday, January 27th. They issued a “hold” rating for the company. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $11.50.

Insiders Place Their Bets

In other Tilray Brands news, Director David G. Hopkinson sold 33,556 shares of the company’s stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $6.94, for a total value of $232,878.64. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.84% of the company’s stock.

Tilray Brands Company Profile

Tilray Brands, Inc is a global cannabis-lifestyle and consumer packaged goods company engaged in the cultivation, production, distribution and sale of cannabis and cannabinoid-based products. The company develops and markets a diverse portfolio of branded products spanning medical cannabis, adult-use recreational products and wellness offerings. Through state-of-the-art cultivation facilities, research and development efforts, and quality control systems, Tilray Brands aims to deliver consistent, scalable products for a range of patient and consumer needs.

Tilray’s product lineup includes cannabis flower, pre-rolls, oils and tinctures, vapes, edibles and topicals, as well as hemp-derived cannabidiol (CBD) products.