Tilray Brands (NASDAQ:TLRY) Stock Price Down 5.3% – Time to Sell?

Tilray Brands, Inc. (NASDAQ:TLRY)’s stock price dropped 5.3% during trading on Friday. The company traded as low as $3.03 and last traded at $3.04. Approximately 2,925,854 shares changed hands during mid-day trading, a decline of 31% from the average daily volume of 4,226,404 shares. The stock had previously closed at $3.21.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. TD Securities upgraded Tilray Brands to a “strong-buy” rating in a research note on Friday, July 31st. Weiss Ratings raised Tilray Brands from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, October 8th. TD Cowen decreased their price target on Tilray Brands from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, July 14th. ATB Cormark Capital Markets lowered their price target on Tilray Brands from $8.00 to $6.00 and set a “hold” rating for the company in a report on Monday, September 21st. Finally, Wall Street Zen downgraded shares of Tilray Brands from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Tilray Brands presently has a consensus rating of “Hold” and a consensus target price of $5.90.

Tilray Brands Stock Down 5.3%

The company has a debt-to-equity ratio of 0.17, a current ratio of 1.88 and a quick ratio of 1.11. The stock has a market cap of $449.28 million, a price-to-earnings ratio of -2.17 and a beta of 1.91. The firm’s 50-day moving average is $4.18 and its 200 day moving average is $4.91.

Tilray Brands (NASDAQ:TLRY) last announced its quarterly earnings results on Thursday, October 8th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.16. Tilray Brands had a negative net margin of 16.91% and a negative return on equity of 10.39%. The company had revenue of $257.15 million for the quarter, compared to analyst estimates of $266.26 million. Sell-side analysts anticipate that Tilray Brands, Inc. will post -0.46 earnings per share for the current fiscal year.

Insider Buying and Selling at Tilray Brands

In other news, CFO Carl Merton bought 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were acquired at an average cost of $4.62 per share, with a total value of $46,200.00. Following the transaction, the chief financial officer owned 139,753 shares of the company’s stock, valued at $645,658.86. This represents a 7.71% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders acquired 15,000 shares of company stock valued at $69,225. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Tilray Brands

A number of institutional investors have recently added to or reduced their stakes in TLRY. SLT Holdings LLC acquired a new position in shares of Tilray Brands in the 3rd quarter valued at about $247,000. Engineers Gate Manager LP increased its position in Tilray Brands by 124.1% during the 2nd quarter. Engineers Gate Manager LP now owns 60,839 shares of the company’s stock worth $273,000 after purchasing an additional 33,688 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in Tilray Brands in the second quarter valued at approximately $27,000. Squarepoint Ops LLC purchased a new position in Tilray Brands in the second quarter valued at approximately $192,000. Finally, Amundi purchased a new position in Tilray Brands in the second quarter valued at approximately $131,000. Hedge funds and other institutional investors own 9.35% of the company’s stock.

Tilray Brands Company Profile

Tilray Brands, Inc is a global consumer packaged goods company focused on cannabis, beverage alcohol, wellness and consumer products. The company develops, produces, distributes and markets a range of cannabis products, including dried flower, pre-rolls, vapes, edibles and medical cannabis products, subject to applicable regulations in the markets it serves.

Tilray also operates beverage alcohol businesses, including craft beer, spirits and other alcoholic beverages. Its portfolio has included brands such as SweetWater Brewing Company, Montauk Brewing Company and Breckenridge Distillery.