Tilray Brands (NASDAQ:TLRY) Shares Down 2.9% – Time to Sell?

Tilray Brands, Inc. (NASDAQ:TLRY) fell 2.9% on Thursday . The stock traded as low as $7.55 and last traded at $7.62. 3,142,516 shares were traded during trading, a decline of 46% from the average session volume of 5,787,148 shares. The stock had previously closed at $7.85.

Analysts Set New Price Targets

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

Tilray Brands Price Performance

The company’s 50-day simple moving average is $9.39 and its 200 day simple moving average is $10.95. The company has a market capitalization of $887.81 million, a P/E ratio of -0.34 and a beta of 1.77. The company has a quick ratio of 1.72, a current ratio of 2.81 and a debt-to-equity ratio of 0.19.

Tilray Brands (NASDAQ:TLRY) last released 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 business had revenue of $217.51 million during the quarter, compared to analyst estimates 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 firm posted ($0.03) EPS. As a group, sell-side analysts expect that Tilray Brands, Inc. will post -0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tilray Brands

A number of large investors have recently added to or reduced their stakes in the stock. Vontobel Holding Ltd. raised its position in shares of Tilray Brands by 12.7% in the second quarter. Vontobel Holding Ltd. now owns 272,662 shares of the company’s stock valued at $113,000 after purchasing an additional 30,818 shares during the period. Stratos Wealth Partners LTD. grew its stake in Tilray Brands by 704.5% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 81,272 shares of the company’s stock valued at $34,000 after buying an additional 71,170 shares during the last quarter. Tradewinds Capital Management LLC raised its holdings in Tilray Brands by 177.0% in the 2nd quarter. Tradewinds Capital Management LLC now owns 203,461 shares of the company’s stock worth $84,000 after acquiring an additional 130,001 shares during the period. Quinn Opportunity Partners LLC lifted its position in Tilray Brands by 11.6% during the 2nd quarter. Quinn Opportunity Partners LLC now owns 1,918,080 shares of the company’s stock worth $795,000 after acquiring an additional 200,000 shares during the last quarter. Finally, Blair William & Co. IL boosted its holdings in Tilray Brands by 55.9% during the second quarter. Blair William & Co. IL now owns 239,743 shares of the company’s stock valued at $99,000 after acquiring an additional 86,010 shares during the period. 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.