Tilray Brands (NASDAQ:TLRY) Trading Down 3.4% – Time to Sell?

Tilray Brands, Inc. (NASDAQ:TLRY)’s share price dropped 3.4% during mid-day trading on Monday . The company traded as low as $7.39 and last traded at $7.60. Approximately 2,754,283 shares traded hands during mid-day trading, a decline of 34% from the average daily volume of 4,197,208 shares. The stock had previously closed at $7.87.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Zacks Research raised shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 11th. Wall Street Zen upgraded Tilray Brands from a “sell” rating to a “hold” rating in a report on Sunday, February 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Tilray Brands in a report on Wednesday, January 21st. Roth Mkm dropped 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. Finally, ATB Cormark Capital Markets raised shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 10th. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Tilray Brands has a consensus rating of “Hold” and an average price target of $13.33.

Tilray Brands Stock Down 0.8%

The firm’s fifty day simple moving average is $8.40 and its 200 day simple moving average is $11.00. The company has a current ratio of 2.81, a quick ratio of 1.72 and a debt-to-equity ratio of 0.19.

Tilray Brands (NASDAQ:TLRY) last released its quarterly earnings data on Thursday, January 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $211.15 million. During the same period in the previous year, the company earned ($0.03) EPS. As a group, research analysts expect that Tilray Brands, Inc. will post -0.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Tilray Brands

Several institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC increased its stake in Tilray Brands by 15.0% in the second quarter. Tidal Investments LLC now owns 28,971,835 shares of the company’s stock valued at $12,006,000 after purchasing an additional 3,776,410 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Tilray Brands by 281.0% in the 3rd quarter. Millennium Management LLC now owns 4,942,319 shares of the company’s stock valued at $8,550,000 after buying an additional 3,645,060 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Tilray Brands in the 3rd quarter valued at $5,813,000. Ausdal Financial Partners Inc. purchased a new position in shares of Tilray Brands in the 2nd quarter valued at $939,000. Finally, Swiss National Bank raised its stake in Tilray Brands by 4.4% during the 3rd quarter. Swiss National Bank now owns 2,013,038 shares of the company’s stock worth $3,483,000 after acquiring an additional 84,900 shares in the last quarter. Hedge funds and other institutional investors own 9.35% of the company’s stock.

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.