Tilray Brands (NASDAQ:TLRY) Trading Down 1.1% – Should You Sell?

Tilray Brands, Inc. (NASDAQ:TLRY) shares were down 1.1% during mid-day trading on Wednesday . The company traded as low as $7.80 and last traded at $7.83. Approximately 1,719,907 shares changed hands during trading, a decline of 60% from the average daily volume of 4,335,166 shares. The stock had previously closed at $7.92.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on TLRY shares. Wall Street Zen raised Tilray Brands from a “sell” rating to a “hold” rating in a research note on Sunday. Canaccord Genuity Group began coverage on shares of Tilray Brands in a research report on Tuesday, January 27th. They set a “hold” rating on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tilray Brands in a research note on Wednesday, January 21st. ATB Cormark Capital Markets upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 10th. Finally, Roth Mkm cut their price target on shares of Tilray Brands from $20.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, January 20th. One research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Tilray Brands currently has a consensus rating of “Hold” and an average target price of $13.33.

Tilray Brands Stock Performance

The firm has a fifty day simple moving average of $8.83 and a 200 day simple moving average of $11.13. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.81 and a quick ratio of 1.72. The company has a market cap of $912.27 million, a price-to-earnings ratio of -0.35 and a beta of 2.02.

Tilray Brands (NASDAQ:TLRY) last announced its earnings results on Thursday, January 8th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.27). Tilray Brands had a negative return on equity of 6.35% and a negative net margin of 251.69%.The firm had revenue of $217.51 million during the quarter, compared to the consensus estimate of $211.15 million. During the same quarter last year, the business earned ($0.03) EPS. On average, sell-side analysts expect that Tilray Brands, Inc. will post -0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TLRY. Silverlake Wealth Management LLC acquired a new position in shares of Tilray Brands during the third quarter worth approximately $25,000. Oppenheimer & Co. Inc. bought a new position in Tilray Brands during the third quarter worth $25,000. Unified Investment Management bought a new position in Tilray Brands during the third quarter worth $26,000. J.W. Cole Advisors Inc. raised its stake in Tilray Brands by 203.2% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 71,890 shares of the company’s stock valued at $30,000 after purchasing an additional 48,177 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in Tilray Brands in the 3rd quarter valued at $30,000. 9.35% of the stock is owned by institutional investors.

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.