Tilray Brands (NASDAQ:TLRY) Stock Falls 1.5% – Should You Sell?

Tilray Brands, Inc. (NASDAQ:TLRY) shares traded down 1.5% during trading on Wednesday. The stock traded as low as $2.50 and last traded at $2.61. 4,895,355 shares traded hands during trading, an increase of 14% from the average session volume of 4,284,587 shares. The stock had previously closed at $2.65.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TLRY. TD Securities raised Tilray Brands to a “strong-buy” rating in a research report on Friday, July 31st. ATB Cormark Capital Markets decreased their price target on Tilray Brands from $8.00 to $6.00 and set a “hold” rating for the company in a research note on Monday, September 21st. Zacks Research lowered Tilray Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 29th. Weiss Ratings cut Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, October 23rd. Finally, TD cut their price objective on Tilray Brands from $4.70 to $4.50 and set a “buy” rating for the company in a report on Monday, October 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $5.90.

Tilray Brands Stock Performance

The stock has a market capitalization of $359.13 million, a price-to-earnings ratio of -1.74 and a beta of 2.04. The company’s fifty day simple moving average is $3.44 and its 200 day simple moving average is $5.22. The company has a quick ratio of 1.11, a current ratio of 1.88 and a debt-to-equity ratio of 0.17.

Tilray Brands (NASDAQ:TLRY) last released its quarterly earnings results on Thursday, October 8th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.16. The business had revenue of $257.15 million for the quarter, compared to analyst estimates of $266.26 million. Tilray Brands had a negative net margin of 16.91% and a negative return on equity of 10.39%. On average, equities research analysts expect that Tilray Brands, Inc. will post -0.52 earnings per share for the current year.

Institutional Trading of Tilray Brands

Institutional investors have recently made changes to their positions in the company. Integrated Wealth Concepts LLC purchased a new position in shares of Tilray Brands during the 2nd quarter valued at $27,000. Deutsche Bank AG purchased a new position in shares of Tilray Brands during the 2nd quarter valued at $44,000. Corient Private Wealth LP purchased a new position in Tilray Brands during the second quarter worth about $53,000. Essential Partners LLC increased its position in shares of Tilray Brands by 110,137.5% in the first quarter. Essential Partners LLC now owns 8,819 shares of the company’s stock worth $57,000 after purchasing an additional 8,811 shares during the last quarter. Finally, Centaurus Financial Inc. bought a new position in shares of Tilray Brands in the 2nd quarter worth $58,000. Institutional investors own 9.35% of the company’s stock.

About Tilray Brands

Tilray Brands is a global cannabis and consumer packaged goods company. Its cannabis business produces and sells medical and adult-use products, including dried flower, oils, extracts and edibles, under brands such as Good Supply, Solei, Redecan and Broken Coast. The company serves customers in Canada, the United States and international markets. Its activities include medical cannabis distribution in countries where permitted, as well as cannabis and hemp-related products in North America, subject to local regulations.