Tilray Brands (NASDAQ:TLRY) Stock Price Down 1.8% – Time to Sell?

Tilray Brands, Inc. (NASDAQ:TLRY) shares traded down 1.8% during mid-day trading on Friday . The stock traded as low as $7.66 and last traded at $7.75. 2,539,905 shares were traded during mid-day trading, a decline of 44% from the average session volume of 4,514,570 shares. The stock had previously closed at $7.89.

Analyst Ratings Changes

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

Tilray Brands Trading Down 1.8%

The firm has a fifty day moving average of $9.02 and a 200-day moving average of $11.08. 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 stock has a market capitalization of $902.95 million, a price-to-earnings ratio of -0.35 and a beta of 2.02.

Tilray Brands (NASDAQ:TLRY) last issued its quarterly earnings data on Thursday, January 8th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.27). The company had revenue of $217.51 million for the quarter, compared to analyst estimates 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 quarter in the prior year, the firm earned ($0.03) EPS. As a group, equities analysts predict that Tilray Brands, Inc. will post -0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TLRY. Stratos Wealth Partners LTD. boosted its position 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 during the last quarter. Quinn Opportunity Partners LLC increased 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 during the last quarter. Cresset Asset Management LLC lifted its stake in shares of Tilray Brands by 72.1% in the third quarter. Cresset Asset Management LLC now owns 501,989 shares of the company’s stock worth $868,000 after acquiring an additional 210,267 shares in the last quarter. AdvisorShares Investments LLC boosted its holdings in Tilray Brands by 44.8% in the third quarter. AdvisorShares Investments LLC now owns 711,535 shares of the company’s stock valued at $1,231,000 after purchasing an additional 220,000 shares during the last quarter. Finally, Clearstead Advisors LLC boosted its holdings in Tilray Brands by 437.3% in the third quarter. Clearstead Advisors LLC now owns 21,625 shares of the company’s stock valued at $37,000 after purchasing an additional 17,600 shares during the last quarter. 9.35% of the stock is currently owned by hedge funds and other institutional investors.

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.