Tilray Brands (NASDAQ:TLRY) Shares Down 2.9% – Time to Sell?

Tilray Brands, Inc. (NASDAQ:TLRY) fell 2.9% during mid-day trading on Thursday . The company traded as low as $7.55 and last traded at $7.62. 3,142,516 shares traded hands during mid-day trading, a decline of 46% from the average session volume of 5,787,148 shares. The stock had previously closed at $7.85.

Analyst Upgrades and Downgrades

TLRY has been the topic of a number of research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tilray Brands in a research report on Wednesday, January 21st. Atb Cap Markets upgraded Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 10th. Roth Mkm cut their target price on Tilray Brands from $20.00 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 20th. Wall Street Zen upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Saturday, October 11th. Finally, Canaccord Genuity Group initiated coverage on shares of Tilray Brands in a research report on Tuesday. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $13.33.

Tilray Brands Stock Down 2.9%

The company has a debt-to-equity ratio of 0.19, a current ratio of 2.81 and a quick ratio of 1.72. The firm has a market capitalization of $887.81 million, a P/E ratio of -0.34 and a beta of 1.77. The firm’s fifty day moving average price is $9.39 and its 200-day moving average price is $10.95.

Tilray Brands (NASDAQ:TLRY) last released its earnings results on Thursday, January 8th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.27). Tilray Brands had a negative return on equity of 6.35% and a negative net margin of 251.69%.The firm had revenue of $217.51 million during the quarter, compared to analyst estimates of $211.15 million. During the same quarter last year, the company earned ($0.03) earnings per share. As a group, equities research analysts forecast that Tilray Brands, Inc. will post -0.2 earnings per share for the current year.

Hedge Funds Weigh In On Tilray Brands

Large investors have recently made changes to their positions in the business. Vontobel Holding Ltd. increased its stake in Tilray Brands by 12.7% in the 2nd quarter. Vontobel Holding Ltd. now owns 272,662 shares of the company’s stock worth $113,000 after purchasing an additional 30,818 shares in the last quarter. Stratos Wealth Partners LTD. boosted its holdings in shares of Tilray Brands by 704.5% in the second quarter. Stratos Wealth Partners LTD. now owns 81,272 shares of the company’s stock worth $34,000 after buying an additional 71,170 shares during the period. Tradewinds Capital Management LLC increased its position in shares of Tilray Brands by 177.0% in the second quarter. Tradewinds Capital Management LLC now owns 203,461 shares of the company’s stock worth $84,000 after acquiring an additional 130,001 shares in the last quarter. Quinn Opportunity Partners LLC raised its holdings in shares of Tilray Brands by 11.6% during the second quarter. Quinn Opportunity Partners LLC now owns 1,918,080 shares of the company’s stock valued at $795,000 after acquiring an additional 200,000 shares during the period. Finally, Blair William & Co. IL raised its holdings in shares of Tilray Brands by 55.9% during the second quarter. Blair William & Co. IL now owns 239,743 shares of the company’s stock valued at $99,000 after acquiring an additional 86,010 shares during the period. Institutional investors 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.