Tilray Brands (NASDAQ:TLRY) Shares Down 1.9% – What’s Next?

Tilray Brands, Inc. (NASDAQ:TLRY) fell 1.9% during mid-day trading on Thursday . The stock traded as low as $9.60 and last traded at $9.71. 4,426,635 shares were traded during trading, a decline of 41% from the average session volume of 7,457,316 shares. The stock had previously closed at $9.90.

Analyst Upgrades and Downgrades

TLRY has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tilray Brands in a report on Wednesday, October 8th. Atb Cap Markets raised shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 10th. Zacks Research lowered shares of Tilray Brands from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Finally, Wall Street Zen raised shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Saturday, October 11th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $15.00.

Tilray Brands Trading Down 1.9%

The firm’s fifty day moving average price is $9.91 and its 200-day moving average price is $10.70. The company has a market cap of $1.09 billion, a price-to-earnings ratio of -0.44 and a beta of 1.77. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.81 and a quick ratio of 1.72.

Tilray Brands (NASDAQ:TLRY) last issued its quarterly earnings data on Thursday, January 8th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.27). Tilray Brands had a negative net margin of 251.69% and a negative return on equity of 6.35%. 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 prior year, the business earned ($0.03) earnings per share. On average, equities analysts expect that Tilray Brands, Inc. will post -0.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Tilray Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Baader Bank Aktiengesellschaft lifted its stake in shares of Tilray Brands by 11.0% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 339,706 shares of the company’s stock worth $134,000 after acquiring an additional 33,684 shares during the period. Vontobel Holding Ltd. raised its holdings in Tilray Brands by 12.7% during the second quarter. Vontobel Holding Ltd. now owns 272,662 shares of the company’s stock worth $113,000 after purchasing an additional 30,818 shares in the last quarter. Stratos Wealth Partners LTD. lifted its position in Tilray Brands by 704.5% in the second quarter. Stratos Wealth Partners LTD. now owns 81,272 shares of the company’s stock worth $34,000 after purchasing an additional 71,170 shares during the period. Tradewinds Capital Management LLC boosted its stake in Tilray Brands by 177.0% during the 2nd quarter. Tradewinds Capital Management LLC now owns 203,461 shares of the company’s stock valued at $84,000 after purchasing an additional 130,001 shares in the last quarter. Finally, Quinn Opportunity Partners LLC boosted its stake in Tilray Brands by 11.6% during the 2nd quarter. Quinn Opportunity Partners LLC now owns 1,918,080 shares of the company’s stock valued at $795,000 after purchasing an additional 200,000 shares in the last quarter. 9.35% of the stock is owned by institutional investors.

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.