Tilray Brands (NASDAQ:TLRY) Stock Price Down 5.2% After Analyst Downgrade

Tilray Brands, Inc. (NASDAQ:TLRY)’s share price was down 5.2% during trading on Monday after TD Cowen lowered their price target on the stock from $10.00 to $7.00. TD Cowen currently has a buy rating on the stock. Tilray Brands traded as low as $5.93 and last traded at $5.99. Approximately 2,744,698 shares were traded during mid-day trading, a decline of 24% from the average daily volume of 3,628,404 shares. The stock had previously closed at $6.32.

A number of other equities analysts have also recently issued reports on TLRY. ATB Cormark Capital Markets upgraded Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 10th. Zacks Research upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 11th. Wall Street Zen upgraded shares of Tilray Brands from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Roth Mkm dropped their price objective on shares of Tilray Brands from $20.00 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 20th. Finally, Canaccord Genuity Group initiated coverage on shares of Tilray Brands in a report on Tuesday, January 27th. They set a “hold” rating for the company. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $11.75.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Optiver Holding B.V. grew its stake in shares of Tilray Brands by 239.4% in the 3rd quarter. Optiver Holding B.V. now owns 224,049 shares of the company’s stock worth $388,000 after acquiring an additional 158,041 shares in the last quarter. Cresset Asset Management LLC lifted its position in shares of Tilray Brands by 72.1% during the third quarter. Cresset Asset Management LLC now owns 501,989 shares of the company’s stock valued at $868,000 after purchasing an additional 210,267 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in Tilray Brands by 99,204,800.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 992,049 shares of the company’s stock worth $1,716,000 after purchasing an additional 992,048 shares during the last quarter. Zuckerman Investment Group LLC purchased a new position in Tilray Brands during the third quarter worth about $147,000. Finally, Unified Investment Management purchased a new stake in Tilray Brands in the 3rd quarter valued at about $26,000. Hedge funds and other institutional investors own 9.35% of the company’s stock.

Tilray Brands Stock Performance

The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.72 and a current ratio of 2.81. The stock has a market cap of $697.88 million, a PE ratio of -0.27 and a beta of 1.96. The company’s 50 day simple moving average is $7.53 and its 200 day simple moving average is $10.35.

Tilray Brands (NASDAQ:TLRY) last posted its earnings results on Thursday, January 8th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.12. 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 quarter last year, the firm earned ($0.03) EPS. Analysts expect that Tilray Brands, Inc. will post -0.2 earnings per share for the current year.

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.