Tilray Brands (NASDAQ:TLRY) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Tilray Brands (NASDAQ:TLRY) from a hold rating to a sell rating in a report released on Saturday.

Other equities analysts also recently issued research reports about the company. Weiss Ratings downgraded Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 13th. TD Cowen decreased their target price on Tilray Brands from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $11.00.

Tilray Brands Stock Up 2.2%

Shares of NASDAQ:TLRY opened at $4.64 on Friday. Tilray Brands has a 1 year low of $3.67 and a 1 year high of $23.20. The business has a 50 day simple moving average of $4.66 and a two-hundred day simple moving average of $6.20. The firm has a market capitalization of $540.79 million, a PE ratio of -4.30 and a beta of 1.90. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.21 and a quick ratio of 1.37.

Tilray Brands (NASDAQ:TLRY) last released its earnings results on Tuesday, July 28th. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.42). Tilray Brands had a negative net margin of 13.11% and a negative return on equity of 7.76%. The business had revenue of $281.71 million for the quarter, compared to the consensus estimate of $246.30 million. On average, equities analysts predict that Tilray Brands will post -0.34 EPS for the current year.

Institutional Trading of Tilray Brands

Several institutional investors and hedge funds have recently modified their holdings of TLRY. Hilton Head Capital Partners LLC acquired a new stake in Tilray Brands during the 4th quarter worth about $38,000. Pictet Asset Management Holding SA increased its holdings in shares of Tilray Brands by 38.9% in 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 period. Schonfeld Strategic Advisors LLC raised its stake in shares of Tilray Brands by 4.5% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 144,358 shares of the company’s stock worth $1,304,000 after purchasing an additional 6,182 shares during the last quarter. Baader Bank Aktiengesellschaft raised its stake in shares of Tilray Brands by 17.7% in the first quarter. Baader Bank Aktiengesellschaft now owns 47,938 shares of the company’s stock worth $293,000 after purchasing an additional 7,226 shares during the last quarter. Finally, IFP Advisors Inc lifted its holdings in shares of Tilray Brands by 14.3% during the fourth quarter. IFP Advisors Inc now owns 60,318 shares of the company’s stock worth $545,000 after purchasing an additional 7,541 shares during the period. 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.