Tilray Brands (NASDAQ:TLRY) Trading Down 3.2% – Should You Sell?

Tilray Brands, Inc. (NASDAQ:TLRY)’s share price was down 3.2% during trading on Friday . The stock traded as low as $0.37 and last traded at $0.37. Approximately 13,892,076 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 34,303,688 shares. The stock had previously closed at $0.38.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on TLRY shares. Roth Capital reissued a “neutral” rating on shares of Tilray Brands in a report on Monday, April 14th. Piper Sandler decreased their price target on Tilray Brands from $2.00 to $1.00 and set a “neutral” rating for the company in a research note on Wednesday, April 9th.

Tilray Brands Stock Down 6.1%

The company has a 50 day moving average price of $0.44 and a two-hundred day moving average price of $0.79. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.62 and a quick ratio of 1.61. The stock has a market cap of $362.34 million, a PE ratio of -0.34 and a beta of 1.83.

Tilray Brands (NASDAQ:TLRY) last posted its quarterly earnings results on Tuesday, April 8th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The business had revenue of $185.78 million during the quarter, compared to analysts’ expectations of $213.38 million. Tilray Brands had a negative return on equity of 7.40% and a negative net margin of 113.85%. Analysts expect that Tilray Brands, Inc. will post -0.2 EPS for the current year.

Institutional Trading of Tilray Brands

A number of hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC increased its position in Tilray Brands by 1,839.7% during the first quarter. AQR Capital Management LLC now owns 607,054 shares of the company’s stock valued at $399,000 after acquiring an additional 575,757 shares during the last quarter. State of Wyoming increased its position in Tilray Brands by 133.0% during the first quarter. State of Wyoming now owns 241,165 shares of the company’s stock valued at $159,000 after acquiring an additional 137,676 shares during the last quarter. Zuckerman Investment Group LLC purchased a new stake in Tilray Brands during the first quarter valued at $33,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Tilray Brands by 30.4% during the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 527,995 shares of the company’s stock valued at $345,000 after acquiring an additional 122,969 shares during the last quarter. Finally, Fifth Lane Capital LP increased its position in Tilray Brands by 400.0% during the first quarter. Fifth Lane Capital LP now owns 50,000 shares of the company’s stock valued at $33,000 after acquiring an additional 40,000 shares during the last quarter. Hedge funds and other institutional investors own 9.35% of the company’s stock.

Tilray Brands Company Profile

Tilray, Inc engages in the research, cultivation, processing, and distribution of medical cannabis. The company offers its products in Argentina, Australia, Canada, Chile, Croatia, Cyprus, the Czech Republic, Germany, New Zealand, and South Africa. Tilray, Inc is headquartered in Canada.