Tilray Brands (NASDAQ:TLRY) Stock Price Down 4.7% – Time to Sell?

Tilray Brands, Inc. (NASDAQ:TLRY) traded down 4.7% during trading on Wednesday . The company traded as low as $1.22 and last traded at $1.23. 33,930,466 shares traded hands during mid-day trading, a decline of 32% from the average session volume of 49,862,617 shares. The stock had previously closed at $1.29.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TLRY. Jefferies Financial Group increased their price objective on shares of Tilray Brands from $1.50 to $2.00 and gave the company a “buy” rating in a report on Monday, August 25th. Atb Cap Markets downgraded shares of Tilray Brands from a “hold” rating to a “strong sell” rating in a report on Thursday, October 9th. Zelman & Associates restated a “neutral” rating on shares of Tilray Brands in a research report on Tuesday, July 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tilray Brands in a research report on Wednesday, October 8th. Finally, Wall Street Zen upgraded Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Saturday, October 11th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $2.00.

Tilray Brands Price Performance

The firm has a market capitalization of $1.38 billion, a P/E ratio of -0.54 and a beta of 2.04. The company has a current ratio of 2.62, a quick ratio of 1.56 and a debt-to-equity ratio of 0.15. The firm has a 50 day moving average price of $1.39 and a 200-day moving average price of $0.90.

Tilray Brands (NASDAQ:TLRY) last released its quarterly earnings results on Thursday, October 9th. The company reported $0.00 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.03. The company had revenue of $209.50 million for the quarter, compared to analyst estimates of $205.75 million. Tilray Brands had a negative return on equity of 6.79% and a negative net margin of 258.54%. On average, analysts expect that Tilray Brands, Inc. will post -0.2 earnings per share for the current year.

Institutional Trading of Tilray Brands

Several institutional investors have recently added to or reduced their stakes in TLRY. Cerity Partners LLC bought a new position in shares of Tilray Brands during the first quarter valued at approximately $31,000. SBI Securities Co. Ltd. grew its position in Tilray Brands by 17.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 276,332 shares of the company’s stock valued at $182,000 after acquiring an additional 40,679 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its stake in Tilray Brands by 1,646.1% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 154,636 shares of the company’s stock worth $102,000 after purchasing an additional 145,780 shares during the period. MCF Advisors LLC purchased a new stake in Tilray Brands in the first quarter worth $132,000. Finally, TD Asset Management Inc lifted its position in shares of Tilray Brands by 6.5% during the first quarter. TD Asset Management Inc now owns 1,627,247 shares of the company’s stock worth $1,063,000 after purchasing an additional 100,017 shares during the last quarter. Institutional investors own 9.35% of the company’s stock.

Tilray Brands Company Profile

Tilray, Inc engages in the research, cultivation, processing, and distribution of medical cannabis. The company offers its products in Argentina, Australia, Canada, Chile, Croatia, Cyprus, the Czech Republic, Germany, New Zealand, and South Africa. Tilray, Inc is headquartered in Canada.