Tilray Brands (NASDAQ:TLRY) Stock Price Down 4.8% – Should You Sell?

Tilray Brands, Inc. (NASDAQ:TLRY) traded down 4.8% on Thursday. The company traded as low as $3.54 and last traded at $3.57. 6,982,922 shares changed hands during mid-day trading, an increase of 66% from the average daily volume of 4,211,969 shares. The stock had previously closed at $3.75.

Analyst Ratings Changes

A number of research analysts have commented on TLRY shares. ATB Cormark Capital Markets cut their price target on shares of Tilray Brands from $8.00 to $6.00 and set a “hold” rating for the company in a research note on Monday, September 21st. Weiss Ratings cut Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, September 21st. Zacks Research lowered Tilray Brands from a “hold” rating to a “strong sell” rating in a research note on Tuesday. TD Securities upgraded Tilray Brands to a “strong-buy” rating in a research report on Friday, July 31st. Finally, Wall Street Zen cut Tilray Brands from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $7.00.

Tilray Brands Trading Down 4.8%

The company has a quick ratio of 1.37, a current ratio of 2.21 and a debt-to-equity ratio of 0.22. The firm has a market cap of $486.23 million, a price-to-earnings ratio of -3.31 and a beta of 1.92. The business’s fifty day moving average is $4.35 and its two-hundred day moving average is $5.16.

Tilray Brands (NASDAQ:TLRY) last posted its quarterly earnings results 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). The firm had revenue of $281.71 million during the quarter, compared to the consensus estimate of $246.30 million. Tilray Brands had a negative net margin of 13.11% and a negative return on equity of 7.76%. Equities analysts anticipate that Tilray Brands, Inc. will post -0.42 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Carl Merton acquired 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The stock was acquired at an average cost of $4.62 per share, with a total value of $46,200.00. Following the completion of the purchase, the chief financial officer directly owned 139,753 shares in the company, valued at approximately $645,658.86. This trade represents a 7.71% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders acquired 15,000 shares of company stock valued at $69,225. 0.84% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tilray Brands

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new position in Tilray Brands during the second quarter worth about $2,073,000. Swiss National Bank lifted its position in shares of Tilray Brands by 4.1% in the first quarter. Swiss National Bank now owns 230,503 shares of the company’s stock worth $1,491,000 after purchasing an additional 9,100 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Tilray Brands by 6.1% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 208,229 shares of the company’s stock valued at $935,000 after acquiring an additional 11,894 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Tilray Brands by 82.9% in the first quarter. Dimensional Fund Advisors LP now owns 87,803 shares of the company’s stock valued at $568,000 after purchasing an additional 39,801 shares in the last quarter. Finally, Legal & General Group Plc bought a new position in shares of Tilray Brands in the 2nd quarter valued at about $381,000. 9.35% of the stock is currently owned by institutional investors and hedge funds.

Tilray Brands Company Profile

Tilray Brands, Inc is a global consumer packaged goods company headquartered in New York. Its operations span cannabis, beverage alcohol, wellness products and related consumer brands. The company develops, produces, markets and distributes cannabis products, including dried flower, pre-rolls, vapes, concentrates, edibles and medical cannabis, where permitted by local regulations.

Tilray also operates a beverage alcohol platform that includes beer, spirits and other alcoholic beverages.