Tilray Brands (NASDAQ:TLRY) Shares Down 2.6% – Time to Sell?

Tilray Brands, Inc. (NASDAQ:TLRY) shares fell 2.6% during trading on Tuesday . The stock traded as low as $4.45 and last traded at $4.49. 3,721,846 shares traded hands during mid-day trading, a decline of 13% from the average daily volume of 4,268,778 shares. The stock had previously closed at $4.61.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. ATB Cormark Capital Markets dropped their price objective on Tilray Brands from $9.50 to $9.00 and set a “sector perform” rating on the stock in a report on Thursday, April 2nd. Weiss Ratings downgraded Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 13th. Roth Mkm upgraded shares of Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Thursday, April 2nd. TD Cowen lowered their price target on shares of Tilray Brands from $10.00 to $7.00 and set a “buy” rating on the stock in a research note on Monday, March 30th. Finally, Wall Street Zen upgraded shares of Tilray Brands from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $11.50.

Tilray Brands Stock Performance

The firm has a fifty day moving average of $5.40 and a 200-day moving average of $7.16. The stock has a market capitalization of $538.46 million, a price-to-earnings ratio of -0.34 and a beta of 1.89. The company has a quick ratio of 1.66, a current ratio of 2.79 and a debt-to-equity ratio of 0.19.

Tilray Brands (NASDAQ:TLRY) last posted its earnings results on Wednesday, April 1st. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.10). The firm had revenue of $206.73 million during the quarter, compared to analyst estimates 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 last year, the company posted ($0.87) EPS. As a group, sell-side analysts anticipate that Tilray Brands, Inc. will post -0.58 EPS for the current year.

Insider Activity at Tilray Brands

In related news, Director David G. Hopkinson sold 33,556 shares of the stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $6.94, for a total value of $232,878.64. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.84% of the stock is owned by corporate insiders.

Institutional Trading of Tilray Brands

Several institutional investors and hedge funds have recently modified their holdings of the business. Hilton Head Capital Partners LLC acquired a new stake in shares of Tilray Brands in the fourth quarter valued at approximately $38,000. Cerity Partners LLC raised its position in shares of Tilray Brands by 98.5% during the 2nd quarter. Cerity Partners LLC now owns 92,560 shares of the company’s stock worth $38,000 after purchasing an additional 45,929 shares during the last quarter. Marex Group plc purchased a new stake in Tilray Brands in the 2nd quarter valued at approximately $40,000. Hilton Capital Management LLC acquired a new stake in Tilray Brands during the 2nd quarter valued at $41,000. Finally, Insigneo Advisory Services LLC acquired a new stake in Tilray Brands during the 3rd quarter valued at $46,000. Hedge funds and other 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.