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Tilray Brands, Inc. (TLRY) Gains But Lags Market: What You Should Know

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Tilray Brands, Inc. (TLRY) closed the most recent trading day at $3.20, moving +1.27% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.46%. Elsewhere, the Dow gained 1%, while the tech-heavy Nasdaq lost 0.17%.

Coming into today, shares of the company had lost 38.52% in the past month. In that same time, the Consumer Staples sector lost 7.99%, while the S&P 500 lost 6.94%.

Investors will be hoping for strength from Tilray Brands, Inc. as it approaches its next earnings release. On that day, Tilray Brands, Inc. is projected to report earnings of -$0.07 per share, which would represent year-over-year growth of 36.36%. Our most recent consensus estimate is calling for quarterly revenue of $157 million, up 10.37% from the year-ago period.

It is also important to note the recent changes to analyst estimates for Tilray Brands, Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 8.38% higher. Tilray Brands, Inc. is currently a Zacks Rank #3 (Hold).

The Consumer Products - Staples industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 203, which puts it in the bottom 20% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow TLRY in the coming trading sessions, be sure to utilize Zacks.com.


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