Tilray Brands (NASDAQ:TLRY) Stock Price Down 2.6% – Time to Sell?

Tilray Brands, Inc. (NASDAQ:TLRY)’s stock price fell 2.6% during trading on Friday . The stock traded as low as $9.36 and last traded at $9.46. 2,970,332 shares changed hands during mid-day trading, a decline of 58% from the average session volume of 7,049,607 shares. The stock had previously closed at $9.71.

Analysts Set New Price Targets

TLRY has been the topic of a number of recent analyst reports. Zacks Research downgraded Tilray Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tilray Brands in a report on Wednesday, October 8th. Wall Street Zen raised Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Saturday, October 11th. Finally, 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. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Tilray Brands has a consensus 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 market cap of $1.06 billion, a P/E ratio of -0.43 and a beta of 1.77. The company has a 50 day simple moving average of $9.86 and a 200-day simple moving average of $10.69.

Tilray Brands (NASDAQ:TLRY) last released its earnings results on Thursday, January 8th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.27). Tilray Brands had a negative return on equity of 6.35% and a negative net margin of 251.69%.The firm had revenue of $217.51 million during the quarter, compared to the consensus estimate of $211.15 million. During the same quarter in the previous year, the firm earned ($0.03) EPS. On average, equities analysts expect that Tilray Brands, Inc. will post -0.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tilray Brands

Institutional investors and hedge funds have recently made changes to their positions in the business. Oppenheimer & Co. Inc. bought a new stake in Tilray Brands in the third quarter worth $25,000. Silverlake Wealth Management LLC bought a new stake in shares of Tilray Brands in the 3rd quarter valued at about $25,000. Unified Investment Management purchased a new stake in Tilray Brands during the 3rd quarter valued at about $26,000. Y Intercept Hong Kong Ltd bought a new stake in Tilray Brands in the third quarter valued at approximately $30,000. Finally, HighPoint Advisor Group LLC purchased a new stake in shares of Tilray Brands during the third quarter valued at approximately $33,000. Institutional investors own 9.35% of the company’s stock.

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.