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

Tilray Brands, Inc. (NASDAQ:TLRY) shares fell 1.8% during mid-day trading on Tuesday . The company traded as low as $5.34 and last traded at $5.41. 2,769,704 shares changed hands during mid-day trading, a decline of 39% from the average session volume of 4,564,758 shares. The stock had previously closed at $5.51.

Analyst Ratings Changes

A number of brokerages recently issued reports on TLRY. Zacks Research upgraded Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 11th. TD Cowen lowered their price target on Tilray Brands from $10.00 to $7.00 and set a “buy” rating for the company in a research report on Monday, March 30th. ATB Cormark Capital Markets reduced their target price on Tilray Brands from $9.50 to $9.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 2nd. Roth Mkm upgraded Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a research note on Thursday, April 2nd. Finally, Weiss Ratings upgraded Tilray Brands from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, April 29th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Tilray Brands currently has a consensus rating of “Hold” and a consensus price target of $11.50.

Tilray Brands Stock Performance

The company has a quick ratio of 1.66, a current ratio of 2.79 and a debt-to-equity ratio of 0.19. The business has a 50 day simple moving average of $6.57 and a two-hundred day simple moving average of $8.47. The firm has a market cap of $641.03 million, a PE ratio of -0.40 and a beta of 1.94.

Tilray Brands (NASDAQ:TLRY) last released its earnings results on Wednesday, April 1st. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.10). The business had revenue of $206.73 million during the quarter, compared to analysts’ expectations of $201.35 million. Tilray Brands had a negative return on equity of 3.31% and a negative net margin of 156.51%.During the same quarter in the previous year, the business earned ($0.87) EPS. As a group, equities research analysts forecast that Tilray Brands, Inc. will post -0.58 earnings per share for the current fiscal year.

Insider Activity at Tilray Brands

In other news, Director David G. Hopkinson sold 33,556 shares of the firm’s stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $6.94, for a total transaction of $232,878.64. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On Tilray Brands

Several institutional investors have recently made changes to their positions in the company. Baader Bank Aktiengesellschaft increased its stake in shares of Tilray Brands by 17.7% during the first quarter. Baader Bank Aktiengesellschaft now owns 47,938 shares of the company’s stock valued at $293,000 after buying an additional 7,226 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Tilray Brands by 82.9% during the first quarter. Dimensional Fund Advisors LP now owns 87,803 shares of the company’s stock valued at $568,000 after buying an additional 39,801 shares during the period. Swiss National Bank increased its stake in shares of Tilray Brands by 4.1% during the first quarter. Swiss National Bank now owns 230,503 shares of the company’s stock valued at $1,491,000 after buying an additional 9,100 shares during the period. R Squared Ltd purchased a new position in shares of Tilray Brands during the first quarter valued at $94,000. Finally, Apollon Wealth Management LLC purchased a new position in shares of Tilray Brands during the first quarter valued at $96,000. Hedge funds and other institutional investors own 9.35% of the company’s stock.

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.