Tilray Brands (NASDAQ:TLRY) Trading Down 3.3% – Time to Sell?

Tilray Brands, Inc. (NASDAQ:TLRY)’s stock price was down 3.3% during trading on Friday . The stock traded as low as $5.22 and last traded at $5.32. Approximately 4,322,674 shares traded hands during trading, a decline of 5% from the average daily volume of 4,530,013 shares. The stock had previously closed at $5.50.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TLRY. Wall Street Zen upgraded shares of Tilray Brands from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Zacks Research upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 11th. TD Cowen lowered their price objective on shares of Tilray Brands from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Monday, March 30th. Weiss Ratings downgraded shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday. Finally, Roth Mkm upgraded shares of Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 target price for the company in a research note on Thursday, April 2nd. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Tilray Brands currently has a consensus rating of “Hold” and an average target price of $11.50.

Tilray Brands Price Performance

The company has a quick ratio of 1.66, a current ratio of 2.79 and a debt-to-equity ratio of 0.19. The stock has a market cap of $620.05 million, a P/E ratio of -0.39 and a beta of 1.94. The business’s 50-day simple moving average is $6.53 and its two-hundred day simple moving average is $8.45.

Tilray Brands (NASDAQ:TLRY) last issued 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 for the quarter, compared to the consensus estimate of $201.35 million. Tilray Brands had a negative return on equity of 3.31% and a negative net margin of 156.51%.During the same quarter in the prior year, the business earned ($0.87) EPS. Sell-side analysts expect that Tilray Brands, Inc. will post -0.58 EPS for the current year.

Insider Activity

In other news, Director David G. Hopkinson sold 33,556 shares of the stock in a transaction dated 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 filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.84% of the company’s stock.

Institutional Investors Weigh In On Tilray Brands

Institutional investors and hedge funds have recently modified their holdings of the company. AQR Capital Management LLC raised its stake in Tilray Brands by 1,839.7% in the first quarter. AQR Capital Management LLC now owns 607,054 shares of the company’s stock valued at $399,000 after purchasing an additional 575,757 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Tilray Brands during the second quarter worth approximately $112,000. Cerity Partners LLC boosted its stake in shares of Tilray Brands by 98.5% during the second quarter. Cerity Partners LLC now owns 92,560 shares of the company’s stock valued at $38,000 after purchasing an additional 45,929 shares during the period. Ausdal Financial Partners Inc. purchased a new position in shares of Tilray Brands in the second quarter worth $939,000. Finally, Bank of America Corp DE increased its stake in shares of Tilray Brands by 26.5% in the second quarter. Bank of America Corp DE now owns 311,810 shares of the company’s stock worth $129,000 after buying an additional 65,379 shares during the period. 9.35% of the stock is owned by hedge funds and other institutional investors.

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.