Tilray Brands (NASDAQ:TLRY) Shares Down 4.4% – Time to Sell?

Tilray Brands, Inc. (NASDAQ:TLRY)’s share price dropped 4.4% during trading on Tuesday . The stock traded as low as $4.28 and last traded at $4.30. 4,434,170 shares were traded during trading, an increase of 5% from the average session volume of 4,240,932 shares. The stock had previously closed at $4.50.

Analyst Ratings Changes

A number of analysts recently commented on the company. Weiss Ratings raised Tilray Brands from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, August 24th. Wall Street Zen downgraded Tilray Brands from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. TD Securities raised Tilray Brands to a “strong-buy” rating in a research report on Friday, July 31st. Finally, TD Cowen lowered their target price on Tilray Brands from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $8.00.

Tilray Brands Stock Down 1.7%

The stock’s 50-day moving average price is $4.45 and its two-hundred day moving average price is $5.52. The company has a current ratio of 2.21, a quick ratio of 1.37 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $563.87 million, a P/E ratio of -3.83 and a beta of 1.92.

Tilray Brands (NASDAQ:TLRY) last posted its quarterly earnings results on Tuesday, July 28th. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.42). Tilray Brands had a negative return on equity of 7.76% and a negative net margin of 13.11%.The company had revenue of $281.71 million during the quarter, compared to the consensus estimate of $246.30 million. As a group, research analysts expect that Tilray Brands, Inc. will post -0.42 earnings per share for the current fiscal year.

Insider Transactions at Tilray Brands

In other news, CFO Carl Merton bought 10,000 shares of the stock in a transaction on Tuesday, August 4th. The shares were purchased at an average cost of $4.62 per share, for a total transaction of $46,200.00. Following the completion of the purchase, the chief financial officer directly owned 139,753 shares in the company, valued at $645,658.86. This represents a 7.71% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders acquired 15,000 shares of company stock valued at $69,225 over the last three months. Company insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TLRY. Integrated Wealth Concepts LLC purchased a new stake in Tilray Brands in the 2nd quarter worth about $27,000. Hilton Head Capital Partners LLC purchased a new stake in Tilray Brands during the fourth quarter valued at about $38,000. Cerity Partners LLC boosted its position in Tilray Brands by 98.5% during the second quarter. Cerity Partners LLC now owns 92,560 shares of the company’s stock worth $38,000 after purchasing an additional 45,929 shares during the period. Marex Group plc bought a new position in Tilray Brands during the second quarter worth about $40,000. Finally, Hilton Capital Management LLC purchased a new position in shares of Tilray Brands in the second quarter worth about $41,000. Institutional investors own 9.35% of the company’s stock.

About Tilray Brands

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.