Tilray Brands (NASDAQ:TLRY) Shares Down 3.3% – Should You Sell?

Tilray Brands, Inc. (NASDAQ:TLRY)’s stock price dropped 3.3% during trading on Thursday . The company traded as low as $4.55 and last traded at $4.67. Approximately 3,695,714 shares traded hands during mid-day trading, a decline of 14% from the average daily volume of 4,302,019 shares. The stock had previously closed at $4.83.

Analyst Upgrades and Downgrades

TLRY has been the topic of several analyst reports. TD Securities raised Tilray Brands to a “strong-buy” rating in a research note on Friday, July 31st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Tilray Brands in a research note on Friday, August 7th. Wall Street Zen cut Tilray Brands from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Finally, TD Cowen cut their target price on Tilray Brands from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Tilray Brands presently has a consensus rating of “Moderate Buy” and an average target price of $11.00.

Tilray Brands Price Performance

The company has a current ratio of 2.21, a quick ratio of 1.37 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $636.05 million, a PE ratio of -4.32 and a beta of 1.90. The stock’s 50-day moving average is $4.49 and its two-hundred day moving average is $5.84.

Tilray Brands (NASDAQ:TLRY) last announced its quarterly earnings data on Tuesday, July 28th. The company reported ($0.43) earnings per share (EPS) 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 firm had revenue of $281.71 million during the quarter, compared to the consensus estimate of $246.30 million. On average, equities analysts predict that Tilray Brands, Inc. will post -0.4 EPS for the current year.

Insider Buying and Selling at Tilray Brands

In other Tilray Brands news, CFO Carl A. Merton purchased 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The stock was purchased at an average cost of $4.62 per share, with a total value of $46,200.00. Following the purchase, the chief financial officer owned 139,753 shares of the company’s stock, valued at approximately $645,658.86. The trade was a 7.71% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders purchased 15,000 shares of company stock valued at $69,225 in the last quarter. Corporate insiders own 0.84% of the company’s stock.

Institutional Trading of Tilray Brands

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Tidal Investments LLC lifted its position in shares of Tilray Brands by 15.0% during the second quarter. Tidal Investments LLC now owns 28,971,835 shares of the company’s stock worth $12,006,000 after purchasing an additional 3,776,410 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Tilray Brands by 281.0% in the third quarter. Millennium Management LLC now owns 4,942,319 shares of the company’s stock worth $8,550,000 after purchasing an additional 3,645,060 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Tilray Brands in the 3rd quarter worth about $5,813,000. Ausdal Financial Partners Inc. purchased a new position in Tilray Brands in the 2nd quarter worth about $939,000. Finally, Swiss National Bank lifted its holdings in Tilray Brands by 4.4% during the 3rd quarter. Swiss National Bank now owns 2,013,038 shares of the company’s stock valued at $3,483,000 after buying an additional 84,900 shares in the last quarter. 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.