Tilray Brands (NASDAQ:TLRY) Trading Down 1.7% – Here’s What Happened

Shares of Tilray Brands, Inc. (NASDAQ:TLRY) traded down 1.7% during mid-day trading on Thursday . The stock traded as low as $7.41 and last traded at $7.49. 1,816,849 shares were traded during trading, a decline of 62% from the average session volume of 4,837,437 shares. The stock had previously closed at $7.62.

Analysts Set New Price Targets

Several research firms have recently weighed in on TLRY. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tilray Brands in a report on Wednesday, January 21st. ATB Cormark Capital Markets raised Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 10th. Roth Mkm cut their price objective on Tilray Brands from $20.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday, January 20th. Wall Street Zen cut Tilray Brands from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Zacks Research upgraded Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $13.33.

Tilray Brands Price Performance

The stock has a 50-day simple moving average of $9.13 and a 200 day simple moving average of $10.99. The stock has a market capitalization of $874.99 million, a P/E ratio of -0.34 and a beta of 2.02. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.72 and a current ratio of 2.81.

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

Hedge Funds Weigh In On Tilray Brands

Several large investors have recently bought and sold shares of the business. Silverlake Wealth Management LLC acquired a new position in shares of Tilray Brands in the 3rd quarter valued at $25,000. Oppenheimer & Co. Inc. acquired a new position in Tilray Brands in the third quarter valued at about $25,000. Unified Investment Management acquired a new position in Tilray Brands in the third quarter valued at about $26,000. J.W. Cole Advisors Inc. boosted 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 worth $30,000 after buying an additional 48,177 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Tilray Brands during the 3rd quarter worth about $30,000. 9.35% of the stock is currently 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.