Tilray Brands (NASDAQ:TLRY) Shares Down 2.7% – Time to Sell?

Tilray Brands, Inc. (NASDAQ:TLRY) dropped 2.7% during trading on Wednesday . The company traded as low as $7.45 and last traded at $7.62. Approximately 2,471,711 shares were traded during mid-day trading, a decline of 50% from the average daily volume of 4,944,667 shares. The stock had previously closed at $7.83.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on TLRY shares. Zacks Research cut shares of Tilray Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. ATB Capital upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tilray Brands in a research note on Wednesday, January 21st. Canaccord Genuity Group started coverage on shares of Tilray Brands in a report on Tuesday, January 27th. They set a “hold” rating for the company. Finally, Roth Mkm reduced their target price on Tilray Brands from $20.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, January 20th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Tilray Brands has an average rating of “Reduce” and a consensus target price of $13.33.

Tilray Brands Trading Down 2.7%

The stock’s fifty day moving average is $9.11 and its 200 day moving average is $11.03. 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 cap of $887.78 million, a P/E ratio of -0.34 and a beta of 2.02.

Tilray Brands (NASDAQ:TLRY) last posted its quarterly earnings data 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 company had revenue of $217.51 million during the quarter, compared to the consensus estimate 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 in the previous year, the business earned ($0.03) earnings per share. As a group, equities research analysts predict that Tilray Brands, Inc. will post -0.2 earnings per share for the current fiscal year.

Institutional Trading of Tilray Brands

A number of hedge funds and other institutional investors have recently bought and sold shares of TLRY. Hilton Head Capital Partners LLC bought a new position in Tilray Brands in the fourth quarter worth approximately $38,000. Oppenheimer & Co. Inc. purchased a new position in shares of Tilray Brands in the 3rd quarter valued at $25,000. Silverlake Wealth Management LLC bought a new position in shares of Tilray Brands in the 3rd quarter worth $25,000. Unified Investment Management purchased a new stake in shares of Tilray Brands during the 3rd quarter worth $26,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Tilray Brands during the 3rd quarter worth $30,000. 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.