Tilray Brands (NASDAQ:TLRY) Stock Price Down 2.6% – Here’s Why

Tilray Brands, Inc. (NASDAQ:TLRY) traded down 2.6% during trading on Friday . The stock traded as low as $9.36 and last traded at $9.46. 2,970,332 shares were traded during mid-day trading, a decline of 58% from the average session volume of 7,049,607 shares. The stock had previously closed at $9.71.

Wall Street Analyst Weigh In

TLRY has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Saturday, October 11th. Zacks Research cut Tilray Brands from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Atb Cap Markets upgraded Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 10th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Tilray Brands in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $15.00.

Tilray Brands Stock Performance

The company’s 50-day moving average price is $9.86 and its 200 day moving average price is $10.69. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.72 and a current ratio of 2.81. The stock has a market capitalization of $1.06 billion, a PE ratio of -0.43 and a beta of 1.77.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TLRY. Baader Bank Aktiengesellschaft grew its stake in Tilray Brands by 11.0% in the second quarter. Baader Bank Aktiengesellschaft now owns 339,706 shares of the company’s stock worth $134,000 after purchasing an additional 33,684 shares during the period. Vontobel Holding Ltd. lifted its position in Tilray Brands by 12.7% during the second quarter. Vontobel Holding Ltd. now owns 272,662 shares of the company’s stock valued at $113,000 after buying an additional 30,818 shares during the period. Stratos Wealth Partners LTD. boosted its holdings in shares of Tilray Brands by 704.5% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 81,272 shares of the company’s stock valued at $34,000 after buying an additional 71,170 shares in the last quarter. Tradewinds Capital Management LLC boosted its holdings in shares of Tilray Brands by 177.0% during the 2nd quarter. Tradewinds Capital Management LLC now owns 203,461 shares of the company’s stock valued at $84,000 after buying an additional 130,001 shares in the last quarter. Finally, Quinn Opportunity Partners LLC grew its position in shares of Tilray Brands by 11.6% in the 2nd quarter. Quinn Opportunity Partners LLC now owns 1,918,080 shares of the company’s stock worth $795,000 after buying an additional 200,000 shares during the period. 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.