Tilray Brands (NASDAQ:TLRY) Trading Down 1.8% – Here’s Why

Shares of Tilray Brands, Inc. (NASDAQ:TLRY) traded down 1.8% on Friday . The stock traded as low as $5.48 and last traded at $5.56. 4,296,055 shares were traded during mid-day trading, a decline of 7% from the average session volume of 4,594,854 shares. The stock had previously closed at $5.66.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TLRY shares. ATB Cormark Capital Markets dropped their target price on shares of Tilray Brands from $9.50 to $9.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 2nd. Roth Mkm raised shares of Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 price target for the company in a research note on Thursday, April 2nd. Wall Street Zen upgraded shares of Tilray Brands from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Zacks Research raised shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 11th. Finally, TD Cowen reduced their target price on Tilray Brands from $10.00 to $7.00 and set a “buy” rating for the company in a research note on Monday, March 30th. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Tilray Brands presently has a consensus rating of “Hold” and an average price target of $11.50.

Tilray Brands Stock Performance

The stock has a market cap of $648.01 million, a price-to-earnings ratio of -0.41 and a beta of 1.94. The company’s fifty day simple moving average is $6.80 and its two-hundred day simple moving average is $8.80. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.79 and a quick ratio of 1.66.

Tilray Brands (NASDAQ:TLRY) last issued its quarterly earnings data on Wednesday, April 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.10). Tilray Brands had a negative net margin of 156.51% and a negative return on equity of 3.31%. The business had revenue of $206.73 million for the quarter, compared to analyst estimates of $201.35 million. During the same quarter in the prior year, the business earned ($0.87) earnings per share. On average, analysts forecast that Tilray Brands, Inc. will post -0.58 earnings per share for the current year.

Insider Transactions at Tilray Brands

In other Tilray Brands news, Director David G. Hopkinson sold 33,556 shares of the business’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $6.94, for a total transaction of $232,878.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Silverlake Wealth Management LLC bought a new stake in Tilray Brands during the third quarter worth $25,000. Oppenheimer & Co. Inc. bought a new stake in shares of Tilray Brands during the 3rd quarter worth $25,000. Unified Investment Management bought a new stake in Tilray Brands during the third quarter worth about $26,000. Y Intercept Hong Kong Ltd purchased a new position in Tilray Brands in the 3rd quarter worth $30,000. Finally, HighPoint Advisor Group LLC purchased a new stake in Tilray Brands during the 3rd quarter valued at $33,000. Hedge funds and other 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.