Tilray Brands Inc [NASDAQ: TLRY] price surged by 8.12 percent to reach at $0.13. The company report on March 14, 2024 at 7:00 AM that Tilray Medical Receives Approval for First Medical Cannabis Extract in Portugal.
Denise Faltischek, Chief Strategy Officer and Head of International at Tilray Brands, Inc., said: “This is a monumental step forward for patient care in Portugal. With the approval of our first medical cannabis extract, we are proud to be at the forefront of medical cannabis research and accessibility and continue to demonstrate our commitment to providing innovative, safe, and effective therapeutic options to patients. We continue to pioneer the future of medical cannabis, furthering our mission to empower and inspire individuals to live their best lives.”.
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The one-year TLRY stock forecast points to a potential upside of 31.89. The average equity rating for TLRY stock is currently 2.53, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on Tilray Brands Inc [TLRY]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TLRY shares is $2.54 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TLRY stock is a recommendation set at 2.53. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Bernstein have made an estimate for Tilray Brands Inc shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on November 02, 2022. The new note on the price target was released on July 29, 2022, representing the official price target for Tilray Brands Inc stock. Previously, the target price had yet another raise to $9, while Canaccord Genuity analysts kept a Buy rating on TLRY stock.
The Average True Range (ATR) for Tilray Brands Inc is set at 0.09, with the Price to Sales ratio for TLRY stock in the period of the last 12 months amounting to 1.83. The Price to Book ratio for the last quarter was 0.38, with the Price to Cash per share for the same quarter was set at 0.35.
TLRY Stock Performance Analysis:
Tilray Brands Inc [TLRY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.76. With this latest performance, TLRY shares dropped by -5.98% in over the last four-week period, additionally sinking by -41.95% over the last 6 months – not to mention a drop of -26.69% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TLRY stock in for the last two-week period is set at 48.12, with the RSI for the last a single of trading hit 52.42, and the three-weeks RSI is set at 46.68 for Tilray Brands Inc [TLRY]. The present Moving Average for the last 50 days of trading for this stock 1.8722, while it was recorded at 1.6700 for the last single week of trading, and 2.0206 for the last 200 days.
Insight into Tilray Brands Inc Fundamentals:
Tilray Brands Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.99 and a Current Ratio set at 1.63.
TLRY Stock EPS
With the latest financial reports released by the company, Tilray Brands Inc posted -1.9/share EPS, while the average EPS was predicted by analysts to be reported at -0.06/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -3,066.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for TLRY. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Tilray Brands Inc go to 37.00%.
Tilray Brands Inc [TLRY] Institutonal Ownership Details
The top three institutional holders of TLRY stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in TLRY stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in TLRY stock with ownership which is approximately 5.8325%.
