Tilray Brands (NASDAQ:TLRY) Trading Down 3.2% – Time to Sell?

Tilray Brands, Inc. (NASDAQ:TLRY)’s stock price fell 3.2% on Wednesday . The company traded as low as $6.72 and last traded at $6.73. 1,736,705 shares were traded during mid-day trading, a decline of 54% from the average session volume of 3,802,264 shares. The stock had previously closed at $6.95.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on TLRY shares. ATB Cormark Capital Markets raised Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tilray Brands in a research note on Wednesday, January 21st. Zacks Research upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 11th. Wall Street Zen lowered Tilray Brands from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Finally, Canaccord Genuity Group assumed coverage on shares of Tilray Brands in a research note on Tuesday, January 27th. They issued a “hold” rating for the company. One analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Tilray Brands presently has a consensus rating of “Hold” and a consensus target price of $13.33.

Tilray Brands Trading Down 3.2%

The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.72 and a current ratio of 2.81. The company has a market cap of $784.11 million, a PE ratio of -0.30 and a beta of 1.96. The stock has a fifty day moving average of $7.98 and a 200-day moving average of $10.65.

Tilray Brands (NASDAQ:TLRY) last released its quarterly earnings data on Thursday, January 8th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.12. The firm had revenue of $217.51 million during the quarter, compared to the consensus estimate of $211.15 million. Tilray Brands had a negative return on equity of 6.35% and a negative net margin of 251.69%.During the same period in the previous year, the company posted ($0.03) earnings per share. Sell-side analysts anticipate that Tilray Brands, Inc. will post -0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Silverlake Wealth Management LLC acquired a new stake in shares of Tilray Brands in the third quarter worth $25,000. Oppenheimer & Co. Inc. acquired a new position in Tilray Brands in the 3rd quarter worth about $25,000. Unified Investment Management acquired a new position in shares of Tilray Brands during the 3rd quarter worth approximately $26,000. J.W. Cole Advisors Inc. lifted its holdings in Tilray Brands by 203.2% during the second quarter. J.W. Cole Advisors Inc. now owns 71,890 shares of the company’s stock valued at $30,000 after purchasing an additional 48,177 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in Tilray Brands in the 3rd quarter valued at about $30,000. 9.35% of the stock is owned by institutional investors and hedge funds.

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.