Tilray Brands (NASDAQ:TLRY) Trading Down 4.8% – Should You Sell?

Shares of Tilray Brands, Inc. (NASDAQ:TLRY) dropped 4.8% on Friday . The company traded as low as $4.85 and last traded at $4.94. Approximately 7,810,149 shares were traded during trading, an increase of 78% from the average daily volume of 4,384,611 shares. The stock had previously closed at $5.19.

Wall Street Analyst Weigh In

TLRY has been the topic of a number of analyst reports. Zacks Research upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 11th. Wall Street Zen upgraded shares of Tilray Brands from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Roth Mkm upgraded shares of Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 price objective on the stock in a research report on Thursday, April 2nd. ATB Cormark Capital Markets cut their price objective on shares of Tilray Brands from $9.50 to $9.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 2nd. Finally, Weiss Ratings cut shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 13th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $11.50.

Tilray Brands Price Performance

The stock has a market capitalization of $575.75 million, a PE ratio of -0.36 and a beta of 1.88. The company has a quick ratio of 1.66, a current ratio of 2.79 and a debt-to-equity ratio of 0.19. The stock’s 50 day moving average price is $6.11 and its 200-day moving average price is $7.69.

Tilray Brands (NASDAQ:TLRY) last issued its earnings results on Wednesday, April 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.10). The company had revenue of $206.73 million for the quarter, compared to analysts’ expectations of $201.35 million. Tilray Brands had a negative net margin of 156.51% and a negative return on equity of 3.31%. During the same period in the prior year, the firm posted ($0.87) earnings per share. As a group, equities 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 business’s stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $6.94, for a total transaction of $232,878.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.84% of the company’s stock.

Institutional Trading of Tilray Brands

Large investors have recently made changes to their positions in the stock. Tudor Investment Corp ET AL purchased a new stake in shares of Tilray Brands during the third quarter valued at $518,000. Optiver Holding B.V. lifted its stake in Tilray Brands by 239.4% in the third quarter. Optiver Holding B.V. now owns 224,049 shares of the company’s stock worth $388,000 after acquiring an additional 158,041 shares during the period. Cresset Asset Management LLC lifted its stake in Tilray Brands by 72.1% in the third quarter. Cresset Asset Management LLC now owns 501,989 shares of the company’s stock worth $868,000 after acquiring an additional 210,267 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in Tilray Brands by 99,204,800.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 992,049 shares of the company’s stock worth $1,716,000 after acquiring an additional 992,048 shares during the period. Finally, Zuckerman Investment Group LLC purchased a new stake in Tilray Brands in the third quarter worth about $147,000. 9.35% of the stock is owned by hedge funds and other institutional investors.

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.