Tilray Brands (NASDAQ:TLRY) Stock Price Down 7% – Should You Sell?

Tilray Brands, Inc. (NASDAQ:TLRY)’s share price fell 7% on Tuesday. The company traded as low as $2.63 and last traded at $2.65. 4,190,241 shares traded hands during mid-day trading, a decline of 2% from the average daily volume of 4,280,310 shares. The stock had previously closed at $2.85.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on TLRY shares. Weiss Ratings lowered shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, October 23rd. Canaccord Genuity Group cut their price target on Tilray Brands from $4.50 to $4.00 and set a “hold” rating for the company in a research note on Friday, October 9th. TD Securities raised Tilray Brands to a “strong-buy” rating in a report on Friday, July 31st. TD lowered their price target on Tilray Brands from $4.70 to $4.50 and set a “buy” rating on the stock in a research report on Monday, October 5th. Finally, Wall Street Zen lowered Tilray Brands from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $5.90.

Tilray Brands Price Performance

The stock has a market capitalization of $368.00 million, a PE ratio of -1.78 and a beta of 2.04. The stock’s 50 day moving average is $3.48 and its two-hundred day moving average is $5.25. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.11 and a current ratio of 1.88.

Tilray Brands (NASDAQ:TLRY) last posted its quarterly earnings data on Thursday, October 8th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.16. Tilray Brands had a negative return on equity of 10.39% and a negative net margin of 16.91%. The company had revenue of $257.15 million during the quarter, compared to analyst estimates of $266.26 million. On average, equities analysts anticipate that Tilray Brands, Inc. will post -0.52 EPS for the current fiscal year.

Institutional Trading of Tilray Brands

A number of institutional investors have recently made changes to their positions in TLRY. BlackRock Inc. purchased a new stake in shares of Tilray Brands during the second quarter worth approximately $2,073,000. Swiss National Bank lifted its holdings in Tilray Brands by 4.1% in the 1st quarter. Swiss National Bank now owns 230,503 shares of the company’s stock valued at $1,491,000 after purchasing an additional 9,100 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Tilray Brands by 6.1% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 208,229 shares of the company’s stock valued at $935,000 after purchasing an additional 11,894 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Tilray Brands by 82.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 87,803 shares of the company’s stock valued at $568,000 after purchasing an additional 39,801 shares in the last quarter. Finally, Legal & General Group Plc acquired a new stake in Tilray Brands during the 2nd quarter worth $381,000. 9.35% of the stock is owned by institutional investors and hedge funds.

About Tilray Brands

Tilray Brands is a global cannabis and consumer packaged goods company. Its cannabis business produces and sells medical and adult-use products, including dried flower, oils, extracts and edibles, under brands such as Good Supply, Solei, Redecan and Broken Coast. The company serves customers in Canada, the United States and international markets. Its activities include medical cannabis distribution in countries where permitted, as well as cannabis and hemp-related products in North America, subject to local regulations.