Tilray Brands (NASDAQ:TLRY) Trading Down 7.2% – What’s Next?

Tilray Brands, Inc. (NASDAQ:TLRY)’s stock price fell 7.2% during mid-day trading on Thursday . The company traded as low as $6.97 and last traded at $7.05. 3,716,409 shares were traded during mid-day trading, a decline of 30% from the average session volume of 5,296,356 shares. The stock had previously closed at $7.60.

Analyst Upgrades and Downgrades

TLRY has been the topic of a number of research reports. Canaccord Genuity Group started coverage on Tilray Brands in a report on Tuesday, January 27th. They issued a “hold” rating on the stock. Wall Street Zen raised shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Saturday, October 11th. ATB Capital upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 10th. Zacks Research downgraded shares of Tilray Brands from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 13th. Finally, Roth Mkm lowered their target price on Tilray Brands from $20.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, January 20th. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $13.33.

Tilray Brands Stock Up 7.5%

The firm’s fifty day simple moving average is $9.11 and its two-hundred day simple moving average is $10.97. The company has a current ratio of 2.81, a quick ratio of 1.72 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $883.15 million, a price-to-earnings ratio of -0.34 and a beta of 2.02.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TLRY. Tidal Investments LLC lifted its stake in Tilray Brands by 15.0% during the second quarter. Tidal Investments LLC now owns 28,971,835 shares of the company’s stock worth $12,006,000 after purchasing an additional 3,776,410 shares in the last quarter. Millennium Management LLC raised 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Tilray Brands during the 3rd quarter worth about $5,813,000. Ausdal Financial Partners Inc. purchased a new position in Tilray Brands during the 2nd quarter valued at about $939,000. Finally, Scientech Research LLC acquired a new position in Tilray Brands in the 3rd quarter valued at about $1,748,000. Institutional investors and hedge funds 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.