Tilray Brands (NASDAQ:TLRY) Stock Falls 4.1% – Time to Sell?

Tilray Brands, Inc. (NASDAQ:TLRY)’s share price fell 4.1% during trading on Friday. The company traded as low as $2.80 and last traded at $2.81. 3,696,215 shares changed hands during mid-day trading, a decline of 12% from the average session volume of 4,219,726 shares. The stock had previously closed at $2.93.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. TD Cowen lowered their price target on shares of Tilray Brands from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, July 14th. Weiss Ratings lowered shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday. Wall Street Zen cut shares of Tilray Brands from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. TD decreased their target price on shares of Tilray Brands from $4.70 to $4.50 and set a “buy” rating for the company in a research report on Monday, October 5th. Finally, Canaccord Genuity Group lowered their target price on shares of Tilray Brands from $4.50 to $4.00 and set a “hold” rating for the company in a research note on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $5.90.

Tilray Brands Price Performance

The stock has a 50-day moving average price of $3.98 and a two-hundred day moving average price of $4.78. The company has a current ratio of 1.88, a quick ratio of 1.11 and a debt-to-equity ratio of 0.17. The stock has a market cap of $415.29 million, a price-to-earnings ratio of -2.01 and a beta of 1.91.

Tilray Brands (NASDAQ:TLRY) last announced its earnings results on Thursday, October 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.16. Tilray Brands had a negative return on equity of 10.39% and a negative net margin of 16.91%. The company had revenue of $257.15 million for the quarter, compared to analyst estimates of $266.26 million. As a group, equities research analysts forecast that Tilray Brands, Inc. will post -0.52 EPS for the current year.

Insider Buying and Selling at Tilray Brands

In other Tilray Brands news, CFO Carl Merton purchased 10,000 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were acquired at an average price of $4.62 per share, for a total transaction of $46,200.00. Following the completion of the purchase, the chief financial officer owned 139,753 shares of the company’s stock, valued at approximately $645,658.86. The trade was a 7.71% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders bought a total of 15,000 shares of company stock worth $69,225 in the last 90 days. 1.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tilray Brands

Several hedge funds and other institutional investors have recently modified their holdings of the stock. SLT Holdings LLC acquired a new position in Tilray Brands during the 3rd quarter valued at approximately $247,000. Engineers Gate Manager LP raised its holdings in shares of Tilray Brands by 124.1% in the second quarter. Engineers Gate Manager LP now owns 60,839 shares of the company’s stock worth $273,000 after buying an additional 33,688 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Tilray Brands in the second quarter worth $27,000. Squarepoint Ops LLC purchased a new position in shares of Tilray Brands in the second quarter worth $192,000. Finally, Amundi acquired a new stake in shares of Tilray Brands during the second quarter worth $131,000. 9.35% of the stock is owned by hedge funds and other institutional investors.

About Tilray Brands

Tilray Brands, Inc is a global consumer packaged goods company operating across the cannabis, beverage alcohol, wellness and distribution sectors. Its cannabis business includes adult-use and medical cannabis products such as dried flower, pre-rolls, vapes, concentrates, edibles and beverages, marketed under brands including Good Supply, RIFF and Broken Coast.

The company also owns and operates beverage alcohol businesses, including SweetWater Brewing Company, Montauk Brewing Company, Alpine Beer Company, Green Flash Brewing Co and Blue Point Brewing Company.