Tilray Brands (NASDAQ:TLRY) Trading Down 1.1% – What’s Next?

Tilray Brands, Inc. (NASDAQ:TLRY) shares dropped 1.1% during trading on Wednesday . The company traded as low as $7.80 and last traded at $7.83. Approximately 1,719,907 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 4,335,166 shares. The stock had previously closed at $7.92.

Analysts Set New Price Targets

TLRY has been the topic of a number of research analyst reports. Wall Street Zen raised Tilray Brands from a “sell” rating to a “hold” rating in a report on Sunday. Weiss Ratings restated a “sell (d-)” rating on shares of Tilray Brands in a research report on Wednesday, January 21st. Roth Mkm dropped their target price on shares of Tilray Brands from $20.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, January 20th. Zacks Research raised shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 11th. Finally, Canaccord Genuity Group initiated coverage on shares of Tilray Brands in a research report on Tuesday, January 27th. They issued a “hold” rating on the stock. One analyst has rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $13.33.

Tilray Brands Stock Performance

The firm’s fifty day simple moving average is $8.83 and its 200 day simple moving average is $11.13. The company has a market capitalization of $912.27 million, a price-to-earnings ratio of -0.35 and a beta of 2.02. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.81 and a quick ratio of 1.72.

Tilray Brands (NASDAQ:TLRY) last issued its quarterly 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). Tilray Brands had a negative net margin of 251.69% and a negative return on equity of 6.35%. The firm had revenue of $217.51 million during the quarter, compared to analysts’ expectations of $211.15 million. During the same quarter last year, the company posted ($0.03) EPS. On average, sell-side analysts forecast that Tilray Brands, Inc. will post -0.2 EPS for the current year.

Institutional Investors Weigh In On Tilray Brands

Institutional investors have recently bought and sold shares of the business. Voloridge Investment Management LLC purchased a new stake in shares of Tilray Brands in the fourth quarter worth approximately $824,000. Polymer Capital Management US LLC purchased a new stake in Tilray Brands in the 4th quarter worth approximately $1,058,000. Engineers Gate Manager LP acquired a new stake in shares of Tilray Brands during the 4th quarter valued at $126,000. Schonfeld Strategic Advisors LLC grew its holdings in shares of Tilray Brands by 4.5% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 144,358 shares of the company’s stock valued at $1,304,000 after acquiring an additional 6,182 shares in the last quarter. Finally, Jump Financial LLC acquired a new position in shares of Tilray Brands in the fourth quarter worth $155,000. 9.35% of the stock is currently owned by institutional investors and hedge funds.

Tilray Brands Company Profile

Tilray Brands, Inc is a global 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.