Tilray Brands (NASDAQ:TLRY) Stock Price Down 2.8% – Should You Sell?

Tilray Brands, Inc. (NASDAQ:TLRY)’s share price fell 2.8% during mid-day trading on Wednesday . The stock traded as low as $4.11 and last traded at $4.11. 2,842,294 shares traded hands during trading, a decline of 32% from the average session volume of 4,208,124 shares. The stock had previously closed at $4.23.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TLRY. Wall Street Zen cut Tilray Brands from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. ATB Cormark Capital Markets dropped their price objective on shares of Tilray Brands from $8.00 to $6.00 and set a “hold” rating for the company in a research note on Monday. TD Cowen lowered their target price on shares of Tilray Brands from $7.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, July 14th. TD Securities raised shares of Tilray Brands to a “strong-buy” rating in a research report on Friday, July 31st. Finally, Weiss Ratings downgraded shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $7.00.

Tilray Brands Stock Down 2.8%

The firm has a 50-day simple moving average of $4.38 and a 200 day simple moving average of $5.29. The company has a market capitalization of $559.78 million, a PE ratio of -3.81 and a beta of 1.92. 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 issued its earnings results on Tuesday, July 28th. The company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.42). Tilray Brands had a negative return on equity of 7.76% and a negative net margin of 13.11%.The company had revenue of $281.71 million during the quarter, compared to analysts’ expectations of $246.30 million. On average, research analysts predict that Tilray Brands, Inc. will post -0.47 EPS for the current fiscal year.

Insider Transactions at Tilray Brands

In other news, CFO Carl Merton acquired 10,000 shares of the stock in a transaction on Tuesday, August 4th. The stock was bought at an average price of $4.62 per share, with a total value of $46,200.00. Following the completion of the transaction, the chief financial officer directly owned 139,753 shares of the company’s stock, valued at $645,658.86. The trade was a 7.71% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have purchased a total of 15,000 shares of company stock valued at $69,225 over the last three months. 0.84% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Hillsdale Investment Management Inc. acquired a new position in Tilray Brands in the 4th quarter worth $4,855,000. BlackRock Inc. purchased a new position in Tilray Brands in the 2nd quarter valued at about $2,073,000. Swiss National Bank grew its stake in shares of Tilray Brands by 4.1% during the first quarter. Swiss National Bank now owns 230,503 shares of the company’s stock valued at $1,491,000 after acquiring an additional 9,100 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Tilray Brands by 6.1% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 208,229 shares of the company’s stock valued at $935,000 after acquiring an additional 11,894 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Tilray Brands by 82.9% during the first quarter. Dimensional Fund Advisors LP now owns 87,803 shares of the company’s stock worth $568,000 after acquiring an additional 39,801 shares during the last quarter. 9.35% of the stock is currently owned by hedge funds and other institutional investors.

Tilray Brands Company Profile

Tilray Brands, Inc is a global consumer packaged goods company headquartered in New York. Its operations span cannabis, beverage alcohol, wellness products and related consumer brands. The company develops, produces, markets and distributes cannabis products, including dried flower, pre-rolls, vapes, concentrates, edibles and medical cannabis, where permitted by local regulations.

Tilray also operates a beverage alcohol platform that includes beer, spirits and other alcoholic beverages.