Tilray Brands (NASDAQ:TLRY) Cut to Sell at Wall Street Zen

Tilray Brands (NASDAQ:TLRY) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

A number of other brokerages have also issued reports on TLRY. Canaccord Genuity Group assumed coverage on shares of Tilray Brands in a research report on Tuesday, January 27th. They set a “hold” rating on the stock. Zacks Research upgraded Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 11th. ATB Cormark Capital Markets raised Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tilray Brands in a report on Wednesday, January 21st. Finally, Roth Mkm cut their target price on Tilray Brands from $20.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday, January 20th. One equities research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $13.33.

Tilray Brands Trading Up 2.1%

Shares of Tilray Brands stock opened at $7.21 on Friday. 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 firm has a 50-day moving average of $8.29 and a 200-day moving average of $10.95. Tilray Brands has a 52-week low of $3.51 and a 52-week high of $23.20. The stock has a market cap of $840.04 million, a PE ratio of -0.33 and a beta of 1.96.

Tilray Brands (NASDAQ:TLRY) last released its quarterly earnings results on Thursday, January 8th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.12. Tilray Brands had a negative net margin of 251.69% and a negative return on equity of 6.35%. The business had revenue of $217.51 million for the quarter, compared to analyst estimates of $211.15 million. During the same period last year, the firm earned ($0.03) earnings per share. As a group, sell-side analysts forecast that Tilray Brands will post -0.2 EPS for the current year.

Hedge Funds Weigh In On Tilray Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Silverlake Wealth Management LLC bought a new position in shares of Tilray Brands during the third quarter valued at $25,000. Oppenheimer & Co. Inc. bought a new position in Tilray Brands during the 3rd quarter worth $25,000. Unified Investment Management acquired a new position in Tilray Brands during the 3rd quarter worth about $26,000. J.W. Cole Advisors Inc. grew its position in shares of Tilray Brands by 203.2% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 71,890 shares of the company’s stock valued at $30,000 after buying an additional 48,177 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Tilray Brands in the third quarter valued at about $30,000. 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.