Tilray Brands (NASDAQ:TLRY) Stock Rating Cut to Strong Sell at Zacks Research

Zacks Research cut shares of Tilray Brands (NASDAQ:TLRY) from a hold rating to a strong sell rating in a report published on Tuesday morning,Zacks reports.

TLRY has been the topic of a number of other reports. Weiss Ratings lowered Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, September 21st. TD Cowen decreased their price objective on Tilray Brands from $7.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, July 14th. TD Securities raised Tilray Brands to a “strong-buy” rating in a research report on Friday, July 31st. Wall Street Zen lowered Tilray Brands from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Finally, ATB Cormark Capital Markets cut their target price on Tilray Brands from $8.00 to $6.00 and set a “hold” rating on the stock in a research note on Monday, September 21st. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Tilray Brands currently has an average rating of “Hold” and a consensus target price of $7.00.

Tilray Brands Trading Down 5.1%

Shares of NASDAQ:TLRY opened at $3.75 on Tuesday. Tilray Brands has a 12 month low of $3.67 and a 12 month high of $23.20. The company has a quick ratio of 1.37, a current ratio of 2.21 and a debt-to-equity ratio of 0.22. The company’s fifty day simple moving average is $4.35 and its 200 day simple moving average is $5.16. The firm has a market cap of $510.75 million, a price-to-earnings ratio of -3.47 and a beta of 1.92.

Tilray Brands (NASDAQ:TLRY) last posted its quarterly earnings data on Tuesday, July 28th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.42). The company had revenue of $281.71 million during the quarter, compared to the consensus estimate of $246.30 million. Tilray Brands had a negative net margin of 13.11% and a negative return on equity of 7.76%. As a group, research analysts forecast that Tilray Brands will post -0.42 EPS for the current fiscal year.

Insider Transactions at Tilray Brands

In other Tilray Brands news, CFO Carl Merton purchased 10,000 shares of the stock in a transaction on Tuesday, August 4th. The shares were purchased at an average cost of $4.62 per share, for a total transaction of $46,200.00. Following the purchase, the chief financial officer owned 139,753 shares of the company’s stock, valued at approximately $645,658.86. This represents a 7.71% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders have acquired 15,000 shares of company stock valued at $69,225. 0.84% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tilray Brands

Several hedge funds have recently modified their holdings of TLRY. Hilton Head Capital Partners LLC acquired a new stake in shares of Tilray Brands in the fourth quarter valued at about $38,000. Pictet Asset Management Holding SA boosted its position in Tilray Brands by 38.9% during the first quarter. Pictet Asset Management Holding SA now owns 18,387 shares of the company’s stock valued at $119,000 after purchasing an additional 5,145 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in Tilray Brands in the second quarter valued at approximately $27,000. Baader Bank Aktiengesellschaft grew its stake in Tilray Brands by 17.7% in the first quarter. Baader Bank Aktiengesellschaft now owns 47,938 shares of the company’s stock valued at $293,000 after purchasing an additional 7,226 shares in the last quarter. Finally, Essential Partners LLC increased its position in shares of Tilray Brands by 110,137.5% during the 1st quarter. Essential Partners LLC now owns 8,819 shares of the company’s stock worth $57,000 after purchasing an additional 8,811 shares during the last quarter. Institutional investors own 9.35% of the company’s stock.

About Tilray Brands

Tilray Brands, Inc is a global consumer packaged goods company headquartered in New York. Its operations span cannabis, beverage alcohol, wellness products and related consumer brands. The company develops, produces, markets and distributes cannabis products, including dried flower, pre-rolls, vapes, concentrates, edibles and medical cannabis, where permitted by local regulations.

Tilray also operates a beverage alcohol platform that includes beer, spirits and other alcoholic beverages.