Tilray Brands (NASDAQ:TLRY) Trading Down 2.3% – What’s Next?

Tilray Brands, Inc. (NASDAQ:TLRY) shares fell 2.3% during mid-day trading on Wednesday . The company traded as low as $7.36 and last traded at $7.60. 3,973,406 shares were traded during trading, a decline of 26% from the average session volume of 5,362,547 shares. The stock had previously closed at $7.78.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on TLRY shares. Roth Mkm lowered their price target on shares of Tilray Brands from $20.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, January 20th. Wall Street Zen raised shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Saturday, October 11th. Zacks Research downgraded shares of Tilray Brands from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Tilray Brands in a research report on Wednesday, January 21st. Finally, Canaccord Genuity Group assumed coverage on Tilray Brands in a research report on Tuesday, January 27th. They issued a “hold” rating on the stock. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and an average target price of $13.33.

Tilray Brands Trading Down 2.3%

The stock’s 50 day simple moving average is $9.25 and its 200 day simple moving average is $11.02. The firm has a market cap of $885.48 million, a PE ratio of -0.34 and a beta of 2.02. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.72 and a current ratio of 2.81.

Tilray Brands (NASDAQ:TLRY) last posted 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 company had revenue of $217.51 million for the quarter, compared to analysts’ expectations of $211.15 million. During the same quarter last year, the business posted ($0.03) EPS. On average, sell-side analysts forecast that Tilray Brands, Inc. will post -0.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tilray Brands

Large investors have recently modified their holdings of the company. State of New Jersey Common Pension Fund D bought a new position in Tilray Brands during the fourth quarter valued at approximately $346,000. Westend Capital Management LLC bought a new stake in shares of Tilray Brands in the 4th quarter worth approximately $736,000. Tudor Investment Corp ET AL purchased a new stake in shares of Tilray Brands in the 3rd quarter valued at $518,000. Swiss Life Asset Management Ltd boosted its stake in shares of Tilray Brands by 222.9% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 42,503 shares of the company’s stock valued at $74,000 after purchasing an additional 29,339 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of Tilray Brands by 99,204,800.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 992,049 shares of the company’s stock valued at $1,716,000 after purchasing an additional 992,048 shares during the last quarter. 9.35% of the stock is owned by hedge funds and other institutional investors.

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.