Tilray Brands (NASDAQ:TLRY) Shares Down 3.1% – Should You Sell?

Tilray Brands, Inc. (NASDAQ:TLRY) shares fell 3.1% during trading on Friday . The company traded as low as $5.29 and last traded at $5.29. 2,058,196 shares changed hands during trading, a decline of 54% from the average session volume of 4,437,173 shares. The stock had previously closed at $5.46.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Canaccord Genuity Group initiated coverage on Tilray Brands in a report on Tuesday, January 27th. They set a “hold” rating for the company. ATB Cormark Capital Markets cut their price target on 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. Weiss Ratings lowered Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 13th. Wall Street Zen raised Tilray Brands from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Finally, TD Cowen cut their price objective on shares of Tilray Brands from $10.00 to $7.00 and set a “buy” rating on the stock in a research report on Monday, March 30th. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $11.50.

Tilray Brands Price Performance

The stock has a market capitalization of $616.55 million, a P/E ratio of -0.39 and a beta of 1.94. The stock’s fifty day moving average is $6.38 and its 200-day moving average is $8.18. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.79 and a quick ratio of 1.66.

Tilray Brands (NASDAQ:TLRY) last posted its earnings results on Wednesday, April 1st. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.10). Tilray Brands had a negative return on equity of 3.31% and a negative net margin of 156.51%.The business had revenue of $206.73 million for the quarter, compared to analyst estimates of $201.35 million. During the same period in the previous year, the company earned ($0.87) earnings per share. On average, equities analysts anticipate that Tilray Brands, Inc. will post -0.58 earnings per share for the current year.

Insider Activity at Tilray Brands

In related news, Director David G. Hopkinson sold 33,556 shares of the firm’s stock in a transaction that occurred on Tuesday, April 21st. The stock was 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 SEC, which can be accessed through this hyperlink. Corporate insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On Tilray Brands

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tudor Investment Corp ET AL bought a new position in shares of Tilray Brands in the third quarter valued at approximately $518,000. Optiver Holding B.V. grew its stake in Tilray Brands by 239.4% in the 3rd quarter. Optiver Holding B.V. now owns 224,049 shares of the company’s stock valued at $388,000 after buying an additional 158,041 shares during the last quarter. Cresset Asset Management LLC grew its stake in Tilray Brands by 72.1% in the 3rd quarter. Cresset Asset Management LLC now owns 501,989 shares of the company’s stock valued at $868,000 after buying an additional 210,267 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in Tilray Brands by 99,204,800.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 992,049 shares of the company’s stock worth $1,716,000 after acquiring an additional 992,048 shares during the period. Finally, Zuckerman Investment Group LLC acquired a new position in Tilray Brands during the 3rd quarter worth $147,000. Institutional investors and hedge funds own 9.35% of the company’s stock.

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.