Tilray Brands (NASDAQ:TLRY) Stock Falls 5.1% – Time to Sell?

Shares of Tilray Brands, Inc. (NASDAQ:TLRY) traded down 5.1% during mid-day trading on Thursday. The stock traded as low as $2.71 and last traded at $2.81. 6,668,765 shares traded hands during mid-day trading, an increase of 56% from the average daily volume of 4,284,046 shares. The stock had previously closed at $2.96.

Analyst Ratings Changes

A number of analysts have commented on the company. Wall Street Zen lowered Tilray Brands from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Weiss Ratings cut Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, October 23rd. TD Cowen lowered their price target on Tilray Brands from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, July 14th. TD Securities raised Tilray Brands to a “strong-buy” rating in a research report on Friday, July 31st. Finally, ATB Cormark Capital Markets reduced their price objective on Tilray Brands from $8.00 to $6.00 and set a “hold” rating for the company in a report on Monday, September 21st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $5.90.

Tilray Brands Price Performance

The firm’s 50-day moving average is $3.66 and its 200-day moving average is $5.40. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.88 and a quick ratio of 1.11. The company has a market capitalization of $415.28 million, a P/E ratio of -2.01 and a beta of 2.04.

Tilray Brands (NASDAQ:TLRY) last released its quarterly earnings results on Thursday, October 8th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.16. Tilray Brands had a negative net margin of 16.91% and a negative return on equity of 10.39%. The business had revenue of $257.15 million for the quarter, compared to the consensus estimate of $266.26 million. Analysts predict that Tilray Brands, Inc. will post -0.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Tilray Brands

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Integrated Wealth Concepts LLC bought a new position in Tilray Brands in the 2nd quarter worth $27,000. Deutsche Bank AG purchased a new position in Tilray Brands during the second quarter valued at $44,000. Corient Private Wealth LP bought a new stake in Tilray Brands during the second quarter valued at about $53,000. Essential Partners LLC grew its holdings in Tilray Brands by 110,137.5% during the first 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 during the period. Finally, Centaurus Financial Inc. bought a new stake in Tilray Brands during the second quarter valued at about $58,000. 9.35% of the stock is currently 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.