Tilray Brands (NASDAQ:TLRY) Stock Price Down 2.6% – Here’s Why

Tilray Brands, Inc. (NASDAQ:TLRY) traded down 2.6% during trading on Monday . The stock traded as low as $5.10 and last traded at $5.18. 3,406,956 shares changed hands during trading, a decline of 25% from the average session volume of 4,518,290 shares. The stock had previously closed at $5.32.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Zacks Research raised shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 11th. 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. 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. Wall Street Zen raised shares of Tilray Brands from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Finally, Weiss Ratings lowered shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $11.50.

Tilray Brands Price Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 2.79 and a quick ratio of 1.66. The firm has a fifty day moving average of $6.53 and a two-hundred day moving average of $8.41. The stock has a market capitalization of $603.73 million, a P/E ratio of -0.38 and a beta of 1.94.

Tilray Brands (NASDAQ:TLRY) last released its quarterly earnings data on Wednesday, April 1st. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.10). The firm had revenue of $206.73 million during the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm earned ($0.87) earnings per share. On average, analysts predict that Tilray Brands, Inc. will post -0.58 EPS for the current year.

Insider Buying and Selling at Tilray Brands

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

Hedge Funds Weigh In On Tilray Brands

Large investors have recently added to or reduced their stakes in the company. Hilton Head Capital Partners LLC bought a new position in Tilray Brands in the fourth quarter worth about $38,000. Engineers Gate Manager LP bought a new position in Tilray Brands in the fourth quarter worth about $126,000. Oppenheimer & Co. Inc. bought a new position in Tilray Brands in the third quarter worth about $25,000. R Squared Ltd bought a new position in Tilray Brands in the first quarter worth about $94,000. Finally, Apollon Wealth Management LLC bought a new position in Tilray Brands in the first quarter worth about $96,000. 9.35% of the stock is currently owned by institutional investors.

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.