Tilray Brands (NASDAQ:TLRY) Shares Down 2.7% – Here’s Why

Tilray Brands, Inc. (NASDAQ:TLRY) fell 2.7% during trading on Friday . The stock traded as low as $4.94 and last traded at $4.98. 3,137,548 shares changed hands during trading, a decline of 28% from the average session volume of 4,348,590 shares. The stock had previously closed at $5.12.

Wall Street Analysts Forecast Growth

Several research firms have commented on TLRY. Wall Street Zen raised shares of Tilray Brands from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. TD Cowen dropped their price objective on shares of Tilray Brands from $10.00 to $7.00 and set a “buy” rating for the company in a research note on Monday, March 30th. ATB Cormark Capital Markets lowered their target price on shares of Tilray Brands from $9.50 to $9.00 and set a “sector perform” rating for the company in a research note on Thursday, April 2nd. Weiss Ratings lowered shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 13th. Finally, Roth Mkm raised shares of Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 target price for the company in a research note on Thursday, April 2nd. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Tilray Brands presently has a consensus rating of “Hold” and a consensus target price of $11.50.

Tilray Brands Price Performance

The stock has a market capitalization of $580.42 million, a PE ratio of -0.36 and a beta of 1.88. The company has a quick ratio of 1.66, a current ratio of 2.79 and a debt-to-equity ratio of 0.19. The stock’s 50 day moving average price is $5.97 and its 200-day moving average price is $7.53.

Tilray Brands (NASDAQ:TLRY) last issued its earnings results on Wednesday, April 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.10). The company had revenue of $206.73 million for the quarter, compared to analysts’ expectations of $201.35 million. Tilray Brands had a negative net margin of 156.51% and a negative return on equity of 3.31%. During the same period in the prior year, the firm posted ($0.87) earnings per share. As a group, equities analysts forecast that Tilray Brands, Inc. will post -0.58 EPS for the current year.

Insider Buying and Selling at Tilray Brands

In related news, Director David G. Hopkinson sold 33,556 shares of Tilray Brands stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $6.94, for a total value of $232,878.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.84% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Hilton Head Capital Partners LLC bought a new stake in shares of Tilray Brands in the 4th quarter valued at about $38,000. Essential Partners LLC raised its holdings in shares of Tilray Brands by 110,137.5% in the 1st quarter. Essential Partners LLC now owns 8,819 shares of the company’s stock valued at $57,000 after purchasing an additional 8,811 shares in the last quarter. Engineers Gate Manager LP bought a new stake in shares of Tilray Brands in the 4th quarter valued at about $126,000. Oppenheimer & Co. Inc. bought a new stake in shares of Tilray Brands in the 3rd quarter valued at about $25,000. Finally, R Squared Ltd bought a new stake in shares of Tilray Brands in the 1st quarter valued at about $94,000. Hedge funds and other institutional investors 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.