Tilray Brands (NASDAQ:TLRY) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Tilray Brands (NASDAQ:TLRY) from a hold rating to a sell rating in a research report report published on Saturday morning.

Several other brokerages also recently weighed in on TLRY. ATB Cormark Capital Markets upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 10th. Roth Mkm dropped their price target on Tilray Brands from $20.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tilray Brands in a research note on Wednesday, January 21st. Zacks Research raised Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 11th. Finally, Canaccord Genuity Group began coverage on Tilray Brands in a report on Tuesday, January 27th. They set a “hold” rating for the company. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $13.33.

Tilray Brands Stock Up 1.9%

TLRY stock opened at $7.35 on Friday. The company has a market cap of $856.35 million, a price-to-earnings ratio of -0.33 and a beta of 1.95. The company has a fifty day moving average price of $8.25 and a 200 day moving average price of $10.93. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.81 and a quick ratio of 1.72. Tilray Brands has a 12 month low of $3.51 and a 12 month high of $23.20.

Tilray Brands (NASDAQ:TLRY) last issued its quarterly earnings data on Thursday, January 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.12. The company had revenue of $217.51 million for the quarter, compared to the consensus estimate 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 period last year, the firm posted ($0.03) EPS. Sell-side analysts expect that Tilray Brands will post -0.2 earnings per share for the current year.

Institutional Investors Weigh In On Tilray Brands

Large investors have recently added to or reduced their stakes in the business. Tidal Investments LLC increased its holdings in Tilray Brands by 15.0% during the 2nd quarter. Tidal Investments LLC now owns 28,971,835 shares of the company’s stock valued at $12,006,000 after acquiring an additional 3,776,410 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Tilray Brands by 281.0% in the third quarter. Millennium Management LLC now owns 4,942,319 shares of the company’s stock valued at $8,550,000 after purchasing an additional 3,645,060 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Tilray Brands in the third quarter valued at approximately $5,813,000. Ausdal Financial Partners Inc. purchased a new position in shares of Tilray Brands during the 2nd quarter worth approximately $939,000. Finally, Swiss National Bank increased its stake in shares of Tilray Brands by 4.4% during the 3rd quarter. Swiss National Bank now owns 2,013,038 shares of the company’s stock worth $3,483,000 after purchasing an additional 84,900 shares in the last quarter. 9.35% of the stock is owned by institutional investors and hedge funds.

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.