Tilray Brands (NASDAQ:TLRY) Trading Down 3.5% – Here’s Why

Tilray Brands, Inc. (NASDAQ:TLRY)’s share price traded down 3.5% during mid-day trading on Monday . The stock traded as low as $8.68 and last traded at $8.73. Approximately 2,616,292 shares were traded during trading, a decline of 57% from the average session volume of 6,020,743 shares. The stock had previously closed at $9.05.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tilray Brands in a report on Wednesday, January 21st. Atb Cap Markets raised shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 10th. Zacks Research downgraded shares of Tilray Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. Roth Mkm decreased their price objective on shares of Tilray Brands from $20.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, January 20th. Finally, Wall Street Zen raised Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Saturday, October 11th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Tilray Brands currently has a consensus rating of “Reduce” and an average target price of $13.33.

Tilray Brands Stock Down 3.5%

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’s 50 day moving average price is $9.46 and its 200-day moving average price is $10.95.

Tilray Brands (NASDAQ:TLRY) last posted its quarterly earnings data on Thursday, January 8th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.27). Tilray Brands had a negative net margin of 251.69% and a negative return on equity of 6.35%. The firm had revenue of $217.51 million during the quarter, compared to analysts’ expectations of $211.15 million. During the same quarter in the previous year, the company posted ($0.03) EPS. Equities analysts forecast that Tilray Brands, Inc. will post -0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tilray Brands

Several large investors have recently added to or reduced their stakes in the company. Vontobel Holding Ltd. lifted its stake in shares of Tilray Brands by 12.7% during the 2nd quarter. Vontobel Holding Ltd. now owns 272,662 shares of the company’s stock valued at $113,000 after buying an additional 30,818 shares in the last quarter. Stratos Wealth Partners LTD. grew its stake in Tilray Brands by 704.5% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 81,272 shares of the company’s stock valued at $34,000 after buying an additional 71,170 shares in the last quarter. Tradewinds Capital Management LLC raised its holdings in Tilray Brands by 177.0% during the 2nd quarter. Tradewinds Capital Management LLC now owns 203,461 shares of the company’s stock valued at $84,000 after acquiring an additional 130,001 shares during the period. Quinn Opportunity Partners LLC lifted its position in shares of Tilray Brands by 11.6% during the second quarter. Quinn Opportunity Partners LLC now owns 1,918,080 shares of the company’s stock worth $795,000 after acquiring an additional 200,000 shares in the last quarter. Finally, Blair William & Co. IL boosted its holdings in shares of Tilray Brands by 55.9% in the second quarter. Blair William & Co. IL now owns 239,743 shares of the company’s stock worth $99,000 after acquiring an additional 86,010 shares during the period. Hedge funds and other 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.