Tilray Brands (NASDAQ:TLRY) Stock Price Down 3.2% – What’s Next?

Tilray Brands, Inc. (NASDAQ:TLRY)’s stock price was down 3.2% during mid-day trading on Tuesday . The company traded as low as $7.22 and last traded at $7.36. Approximately 4,047,462 shares traded hands during trading, a decline of 3% from the average daily volume of 4,194,183 shares. The stock had previously closed at $7.60.

Wall Street Analysts Forecast Growth

TLRY has been the subject of several recent research reports. Zacks Research upgraded Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 11th. Canaccord Genuity Group began coverage on shares of Tilray Brands in a research report on Tuesday, January 27th. They issued a “hold” rating for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tilray Brands in a research report 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, Wall Street Zen raised shares of Tilray Brands from a “sell” rating to a “hold” rating in a report on Sunday, February 22nd. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $13.33.

Tilray Brands Price Performance

The company’s 50-day moving average is $8.40 and its 200-day moving average is $11.00. The firm has a market cap of $822.54 million, a price-to-earnings ratio of -0.32 and a beta of 1.96. The company has a current ratio of 2.81, a quick ratio of 1.72 and a debt-to-equity ratio of 0.19.

Tilray Brands (NASDAQ:TLRY) last announced its quarterly earnings data on Thursday, January 8th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.12. The business had revenue of $217.51 million during the quarter, compared to the consensus estimate of $211.15 million. Tilray Brands had a negative net margin of 251.69% and a negative return on equity of 6.35%. During the same period in the previous year, the business earned ($0.03) earnings per share. Equities research analysts predict that Tilray Brands, Inc. will post -0.2 earnings per share for the current year.

Institutional Investors Weigh In On Tilray Brands

A number of institutional investors have recently made changes to their positions in the stock. Hilton Head Capital Partners LLC acquired a new stake in Tilray Brands during the 4th quarter worth about $38,000. Engineers Gate Manager LP bought a new stake in shares of Tilray Brands during the fourth quarter worth about $126,000. Oppenheimer & Co. Inc. bought a new position in Tilray Brands in the 3rd quarter valued at about $25,000. Silverlake Wealth Management LLC bought a new position in Tilray Brands in the 3rd quarter valued at about $25,000. Finally, Unified Investment Management purchased a new position in shares of Tilray Brands during the third quarter valued at approximately $26,000. 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.