Tilray Brands (NASDAQ:TLRY) Stock Price Down 4.2% – Should You Sell?

Tilray Brands, Inc. (NASDAQ:TLRY)’s share price fell 4.2% during trading on Monday . The stock traded as low as $5.89 and last traded at $5.90. 6,239,540 shares traded hands during trading, an increase of 36% from the average session volume of 4,586,267 shares. The stock had previously closed at $6.16.

Analyst Upgrades and Downgrades

Several research firms recently commented on TLRY. Canaccord Genuity Group began coverage on Tilray Brands in a research report on Tuesday, January 27th. They set a “hold” rating for the company. Zacks Research upgraded Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 11th. ATB Cormark Capital Markets cut their target price on Tilray Brands from $9.50 to $9.00 and set a “sector perform” rating for the company in a research report on Thursday, April 2nd. Weiss Ratings upgraded Tilray Brands from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday. Finally, Wall Street Zen upgraded Tilray Brands from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $11.50.

Tilray Brands Trading Down 4.2%

The company has a 50-day simple moving average of $6.92 and a 200-day simple moving average of $9.02. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.66 and a current ratio of 2.79. The stock has a market cap of $687.65 million, a P/E ratio of -0.43 and a beta of 1.94.

Tilray Brands (NASDAQ:TLRY) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $201.35 million. During the same quarter in the previous year, the firm posted ($0.87) EPS. On average, sell-side analysts forecast that Tilray Brands, Inc. will post -0.58 EPS for the current fiscal year.

Insider Transactions at Tilray Brands

In other Tilray Brands news, Director David G. Hopkinson sold 33,556 shares of Tilray Brands stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $6.94, for a total value of $232,878.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.84% of the company’s stock.

Institutional Investors Weigh In On Tilray Brands

A number of institutional investors and hedge funds have recently made changes to their positions in the company. R Squared Ltd bought a new stake in shares of Tilray Brands during the first quarter worth $94,000. Apollon Wealth Management LLC bought a new stake in shares of Tilray Brands during the first quarter worth $96,000. Pictet Asset Management Holding SA raised its position in shares of Tilray Brands by 38.9% during the first quarter. Pictet Asset Management Holding SA now owns 18,387 shares of the company’s stock worth $119,000 after acquiring an additional 5,145 shares during the last quarter. Alpine Global Management LLC bought a new stake in shares of Tilray Brands during the fourth quarter worth $169,000. Finally, Voloridge Investment Management LLC bought a new stake in shares of Tilray Brands during the fourth quarter worth $824,000. 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.