Tilray Brands (NASDAQ:TLRY) Stock Falls 7% – Time to Sell?

Tilray Brands, Inc. (NASDAQ:TLRY) dropped 7% during trading on Tuesday. The company traded as low as $2.63 and last traded at $2.65. 4,190,241 shares changed hands during mid-day trading, a decline of 2% from the average session volume of 4,280,310 shares. The stock had previously closed at $2.85.

Wall Street Analyst Weigh In

TLRY has been the topic of several recent analyst reports. ATB Cormark Capital Markets reduced their price target on shares of Tilray Brands from $8.00 to $6.00 and set a “hold” rating on the stock in a research note on Monday, September 21st. Canaccord Genuity Group lowered their price objective on shares of Tilray Brands from $4.50 to $4.00 and set a “hold” rating for the company in a research report on Friday, October 9th. Weiss Ratings downgraded shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, October 23rd. Zacks Research lowered shares of Tilray Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 29th. Finally, TD decreased their price target on shares of Tilray Brands from $4.70 to $4.50 and set a “buy” rating for the company in a research note on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.90.

Tilray Brands Stock Down 7.0%

The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.11 and a current ratio of 1.88. The company has a fifty day simple moving average of $3.56 and a two-hundred day simple moving average of $5.31. The firm has a market capitalization of $391.64 million, a PE ratio of -1.89 and a beta of 2.04.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Pictet Asset Management Holding SA boosted its stake in shares of Tilray Brands by 38.9% during the first quarter. Pictet Asset Management Holding SA now owns 18,387 shares of the company’s stock valued at $119,000 after purchasing an additional 5,145 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Tilray Brands during the second quarter worth $27,000. Baader Bank Aktiengesellschaft lifted its holdings in Tilray Brands by 17.7% during the first quarter. Baader Bank Aktiengesellschaft now owns 47,938 shares of the company’s stock worth $293,000 after buying an additional 7,226 shares during the period. Essential Partners LLC increased 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 acquiring an additional 8,811 shares during the period. Finally, Swiss National Bank boosted its position in Tilray Brands by 4.1% during the first quarter. Swiss National Bank now owns 230,503 shares of the company’s stock valued at $1,491,000 after purchasing an additional 9,100 shares in the last quarter. Hedge funds and other institutional investors own 9.35% of the company’s stock.

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.