Tilray Brands (NASDAQ:TLRY) Trading Down 2.6% – Should You Sell?

by · The Cerbat Gem

Shares of Tilray Brands, Inc. (NASDAQ:TLRY – Get Free Report) were down 2.6% during mid-day trading on Monday . The company traded as low as $5.10 and last traded at $5.18. Approximately 3,406,956 shares were traded during mid-day trading, a decline of 25% from the average daily volume of 4,518,290 shares. The stock had previously closed at $5.32.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on TLRY shares. Wall Street Zen upgraded Tilray Brands from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. TD Cowen cut their target price on Tilray Brands from $10.00 to $7.00 and set a “buy” rating on the stock in a research note on Monday, March 30th. 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. ATB Cormark Capital Markets cut 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. Finally, Zacks Research upgraded Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 11th. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $11.50.

Get Our Latest Report on TLRY

Tilray Brands Stock Up 3.8%

The company has a debt-to-equity ratio of 0.19, a current ratio of 2.79 and a quick ratio of 1.66. The firm has a market capitalization of $630.53 million, a P/E ratio of -0.40 and a beta of 1.94. The firm’s fifty day moving average price is $6.46 and its 200-day moving average price is $8.29.

Tilray Brands (NASDAQ:TLRY – Get Free Report) 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). Tilray Brands had a negative return on equity of 3.31% and a negative net margin of 156.51%.The firm had revenue of $206.73 million during the quarter, compared to analyst estimates of $201.35 million. During the same quarter last year, the company earned ($0.87) earnings per share. As a group, equities research analysts forecast that Tilray Brands, Inc. will post -0.58 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director David G. Hopkinson sold 33,556 shares of the firm’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.84% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tilray Brands

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Hilton Head Capital Partners LLC acquired a new stake in Tilray Brands in the 4th quarter valued at about $38,000. Pictet Asset Management Holding SA lifted its holdings in Tilray Brands by 38.9% in the 1st quarter. Pictet Asset Management Holding SA now owns 18,387 shares of the company’s stock valued at $119,000 after acquiring an additional 5,145 shares during the last quarter. Schonfeld Strategic Advisors LLC lifted its holdings in Tilray Brands by 4.5% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 144,358 shares of the company’s stock valued at $1,304,000 after acquiring an additional 6,182 shares during the last quarter. Baader Bank Aktiengesellschaft lifted its holdings in Tilray Brands by 17.7% in the 1st quarter. Baader Bank Aktiengesellschaft now owns 47,938 shares of the company’s stock valued at $293,000 after acquiring an additional 7,226 shares during the last quarter. Finally, IFP Advisors Inc lifted its holdings in Tilray Brands by 14.3% in the 4th quarter. IFP Advisors Inc now owns 60,318 shares of the company’s stock valued at $545,000 after acquiring an additional 7,541 shares during the last quarter. 9.35% of the stock is owned by institutional investors and hedge funds.

About Tilray Brands

(Get Free Report)

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.

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