Tilray Brands (NASDAQ:TLRY) Trading Down 3.3% – Here’s What Happened

Tilray Brands, Inc. (NASDAQ:TLRY)’s share price fell 3.3% on Friday . The company traded as low as $5.22 and last traded at $5.32. 4,322,674 shares traded hands during trading, a decline of 5% from the average session volume of 4,530,013 shares. The stock had previously closed at $5.50.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TLRY. Wall Street Zen upgraded Tilray Brands from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. TD Cowen decreased their price objective on Tilray Brands from $10.00 to $7.00 and set a “buy” rating for the company in a research note on Monday, March 30th. Zacks Research raised Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 11th. Weiss Ratings lowered Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday. Finally, ATB Cormark Capital Markets reduced their target price on shares of Tilray Brands from $9.50 to $9.00 and set a “sector perform” rating for the company in a report on Thursday, April 2nd. Three investment 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. According to MarketBeat.com, Tilray Brands has an average rating of “Hold” and a consensus target price of $11.50.

Tilray Brands Price Performance

The stock has a 50-day moving average price of $6.57 and a two-hundred day moving average price of $8.47. The company has a current ratio of 2.79, a quick ratio of 1.66 and a debt-to-equity ratio of 0.19. The stock has a market cap of $620.05 million, a price-to-earnings ratio of -0.39 and a beta of 1.94.

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

Insider Activity

In other news, Director David G. Hopkinson sold 33,556 shares of the company’s stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $6.94, for a total transaction of $232,878.64. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.84% of the stock is currently owned by company insiders.

Institutional Trading of Tilray Brands

Several large investors have recently bought and sold shares of TLRY. Hilton Head Capital Partners LLC acquired a new position in Tilray Brands during the 4th quarter valued at approximately $38,000. Engineers Gate Manager LP acquired a new stake in shares of Tilray Brands during the fourth quarter worth $126,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Tilray Brands during the third quarter valued at $25,000. Silverlake Wealth Management LLC purchased a new stake in shares of Tilray Brands during the third quarter valued at $25,000. Finally, R Squared Ltd acquired a new position in shares of Tilray Brands in the 1st quarter valued at $94,000. 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.