Tilray Brands (NASDAQ:TLRY) Trading Down 1.9% – Here’s Why

Tilray Brands, Inc. (NASDAQ:TLRY) shares dropped 1.9% during trading on Thursday . The company traded as low as $9.60 and last traded at $9.71. Approximately 4,426,635 shares were traded during mid-day trading, a decline of 41% from the average daily volume of 7,457,316 shares. The stock had previously closed at $9.90.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Zacks Research cut Tilray Brands from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Atb Cap Markets upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 10th. Wall Street Zen raised shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Saturday, October 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Tilray Brands in a research note on Wednesday, October 8th. One investment 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. According to data from MarketBeat, Tilray Brands presently has an average rating of “Reduce” and an average target price of $15.00.

Tilray Brands Stock Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 2.81 and a quick ratio of 1.72. The stock has a fifty day moving average price of $9.80 and a two-hundred day moving average price of $10.73. The company has a market cap of $1.06 billion, a P/E ratio of -0.43 and a beta of 1.77.

Tilray Brands (NASDAQ:TLRY) last posted its earnings results on Thursday, January 8th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.27). The business had revenue of $217.51 million during the quarter, compared to analyst estimates 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 quarter in the prior year, the business earned ($0.03) earnings per share. On average, equities analysts forecast that Tilray Brands, Inc. will post -0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tilray Brands

A number of institutional investors have recently added to or reduced their stakes in TLRY. Baader Bank Aktiengesellschaft lifted its position in shares of Tilray Brands by 11.0% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 339,706 shares of the company’s stock valued at $134,000 after acquiring an additional 33,684 shares during the last quarter. Vontobel Holding Ltd. boosted its position in shares of Tilray Brands by 12.7% in the 2nd quarter. Vontobel Holding Ltd. now owns 272,662 shares of the company’s stock valued at $113,000 after purchasing an additional 30,818 shares during the period. Stratos Wealth Partners LTD. increased its stake in Tilray Brands by 704.5% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 81,272 shares of the company’s stock worth $34,000 after purchasing an additional 71,170 shares in the last quarter. Tradewinds Capital Management LLC increased its stake in Tilray Brands by 177.0% in the 2nd quarter. Tradewinds Capital Management LLC now owns 203,461 shares of the company’s stock worth $84,000 after purchasing an additional 130,001 shares in the last quarter. Finally, Quinn Opportunity Partners LLC lifted its holdings in shares of Tilray Brands by 11.6% in the second quarter. Quinn Opportunity Partners LLC now owns 1,918,080 shares of the company’s stock valued at $795,000 after purchasing an additional 200,000 shares in the last quarter. 9.35% of the stock is currently owned by institutional investors and hedge funds.

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.