Tilray Brands Inc (NASDAQ: TLRY) Trading under Its 20 Day MA ($1.8787), Why Showing An Interesting Price Pattern?

Tilray Brands Inc (NASDAQ:TLRY) does about 34.59M shares in volume on a normal day but saw 13147772 shares change hands in Monday trading. The company now has a market cap of 1.47B USD. Its current market price is $1.78, marking an increase of 0.56% compared to the previous close of $1.77. The 52 week high reached by this stock is $3.40 whilst the lowest price level in 52 weeks is $1.50.

Tilray Brands Inc (TLRY) has a 20-day trading average at $1.8787 and the current price is -47.65% off the 52-week high compared with 18.67% distance from its 52-week low. The 50-day simple moving average of the closing price is $1.9781 and its 200-day simple moving average is $2.0368. If we look at the stock’s price movements over the week, volatility stands at 2.98%, which increases to 4.91% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 41.46 to suggest the stock is neutral.

The consensus objective for the share price is $2.37, suggesting that the stock has a potential upside of 24.89% over the period.

The company shares received a number of brokerage firm price updates over the past month, with the latest being on April 05, 2024 when Alliance Global Partners reiterated the stock to “Neutral” and issued a price target of between $2.25 and $2.75. The Benchmark Company downgraded its price target at $3.

Tilray Brands Inc (TLRY) stock is down -0.84% over the week and -10.10% over the past month. Its price is -22.61% year-to-date and 6.59% over the past year.

The stock last released its quarterly earnings report for quarter ended 2/29/2024, with the company’s earnings per share (EPS) of -0.15 below consensus estimates by -0.1. The company’s next earnings report forecasts estimating quarterly EPS at -0.03 and -0.32 for whole year. Expected sales for next quarter are $210.42M, which analysts say will come at $782.04M for the current fiscal year and next year at $867.78M. In addition, estimates put the company’s current quarterly revenue at an average of $225.25M.

To reach the target analysts have set, the stock logically needs to grow 24.89 percent from here.

The company has a return on investment of -9.45% and return on equity of -10.41%. The beta has a value of 2.22. Price to book ratio is 0.41 and price to sales ratio is 1.98.