Tilray Brands (NASDAQ:TLRY) Rating Lowered to “Strong Sell” at Zacks Research

Tilray Brands (NASDAQ:TLRY) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Tuesday, Zacks reports.

Other equities research analysts have also issued reports about the company. TD Securities upgraded Tilray Brands to a “strong-buy” rating in a research report on Friday, July 31st. Wall Street Zen downgraded Tilray Brands from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Weiss Ratings lowered Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, September 21st. TD Cowen dropped their target price on shares of Tilray Brands from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, July 14th. Finally, ATB Cormark Capital Markets reduced their target price on shares of Tilray Brands from $8.00 to $6.00 and set a “hold” rating on the stock in a research report on Monday, September 21st. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $7.00.

Tilray Brands Stock Performance

Shares of TLRY opened at $3.75 on Tuesday. The company has a 50-day simple moving average of $4.35 and a two-hundred day simple moving average of $5.16. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.21 and a quick ratio of 1.37. The firm has a market capitalization of $510.75 million, a PE ratio of -3.47 and a beta of 1.92. Tilray Brands has a one year low of $3.67 and a one year high of $23.20.

Tilray Brands (NASDAQ:TLRY) last posted its earnings results on Tuesday, July 28th. The company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.42). Tilray Brands had a negative return on equity of 7.76% and a negative net margin of 13.11%.The firm had revenue of $281.71 million for the quarter, compared to analysts’ expectations of $246.30 million. On average, analysts anticipate that Tilray Brands will post -0.42 EPS for the current fiscal year.

Insider Activity at Tilray Brands

In related news, CFO Carl Merton purchased 10,000 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were purchased at an average cost of $4.62 per share, with a total value of $46,200.00. Following the transaction, the chief financial officer directly owned 139,753 shares in the company, valued at $645,658.86. This trade represents a 7.71% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders purchased 15,000 shares of company stock valued at $69,225. Insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TLRY. Hilton Head Capital Partners LLC purchased a new position in Tilray Brands during the fourth quarter valued at $38,000. Pictet Asset Management Holding SA grew its stake in shares of Tilray Brands by 38.9% in the first quarter. Pictet Asset Management Holding SA now owns 18,387 shares of the company’s stock worth $119,000 after acquiring an additional 5,145 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Tilray Brands during the second quarter valued at $27,000. Baader Bank Aktiengesellschaft increased its holdings in shares of Tilray Brands by 17.7% during the first quarter. Baader Bank Aktiengesellschaft now owns 47,938 shares of the company’s stock valued at $293,000 after acquiring an additional 7,226 shares in the last quarter. Finally, Essential Partners LLC raised its position 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 worth $57,000 after purchasing an additional 8,811 shares during the last quarter. Institutional investors own 9.35% of the company’s stock.

About Tilray Brands

Tilray Brands, Inc is a global consumer packaged goods company headquartered in New York. Its operations span cannabis, beverage alcohol, wellness products and related consumer brands. The company develops, produces, markets and distributes cannabis products, including dried flower, pre-rolls, vapes, concentrates, edibles and medical cannabis, where permitted by local regulations.

Tilray also operates a beverage alcohol platform that includes beer, spirits and other alcoholic beverages.