Greenwich Wealth Management LLC Sells 318,330 Shares of Tilray Brands, Inc. $TLRY

Greenwich Wealth Management LLC cut its stake in shares of Tilray Brands, Inc. (NASDAQ:TLRY) by 90.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 35,370 shares of the company’s stock after selling 318,330 shares during the quarter. Greenwich Wealth Management LLC’s holdings in Tilray Brands were worth $319,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TLRY. Oppenheimer & Co. Inc. bought a new stake in Tilray Brands during the 3rd quarter worth approximately $25,000. Y Intercept Hong Kong Ltd bought a new position in shares of Tilray Brands in the third quarter worth approximately $30,000. HighPoint Advisor Group LLC bought a new position in shares of Tilray Brands in the third quarter worth approximately $33,000. Clearstead Advisors LLC increased its stake in shares of Tilray Brands by 437.3% in the third quarter. Clearstead Advisors LLC now owns 21,625 shares of the company’s stock worth $37,000 after purchasing an additional 17,600 shares in the last quarter. Finally, Insigneo Advisory Services LLC bought a new stake in shares of Tilray Brands during the 3rd quarter valued at $46,000. 9.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TLRY. TD Cowen lowered their target price on shares of Tilray Brands from $10.00 to $7.00 and set a “buy” rating on the stock in a research note on Monday, March 30th. Wall Street Zen upgraded Tilray Brands from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Weiss Ratings downgraded Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 13th. Roth Mkm raised Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a research note on Thursday, April 2nd. Finally, ATB Cormark Capital Markets cut their target price 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. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $11.50.

Insider Activity at Tilray Brands

In other Tilray Brands news, Director David G. Hopkinson sold 33,556 shares of Tilray Brands stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $6.94, for a total value of $232,878.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.84% of the stock is owned by insiders.

Tilray Brands Stock Performance

NASDAQ:TLRY opened at $5.11 on Thursday. The company has a market cap of $595.57 million, a price-to-earnings ratio of -0.37 and a beta of 1.88. Tilray Brands, Inc. has a 1 year low of $3.51 and a 1 year high of $23.20. The stock’s 50 day simple moving average is $6.14 and its two-hundred day simple moving average is $7.73. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.79 and a quick ratio of 1.66.

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 analysts’ consensus estimates of ($0.14) by ($0.10). The business had revenue of $206.73 million during the quarter, compared to analysts’ expectations 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 business posted ($0.87) earnings per share. As a group, equities analysts anticipate that Tilray Brands, Inc. will post -0.58 earnings per share for the current fiscal year.

Tilray Brands 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.