Tilray Brands (NASDAQ:TLRY) Shares Gap Down – What’s Next?

Tilray Brands, Inc. (NASDAQ:TLRY) shares gapped down before the market opened on Thursday . The stock had previously closed at $1.23, but opened at $1.18. Tilray Brands shares last traded at $1.1950, with a volume of 9,404,588 shares traded.

Analyst Upgrades and Downgrades

TLRY has been the subject of several recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tilray Brands in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Saturday, October 11th. Jefferies Financial Group raised their price target on shares of Tilray Brands from $1.50 to $2.00 and gave the stock a “buy” rating in a report on Monday, August 25th. Atb Cap Markets lowered shares of Tilray Brands from a “hold” rating to a “strong sell” rating in a report on Thursday, October 9th. Finally, Zelman & Associates reaffirmed a “neutral” rating on shares of Tilray Brands in a research report on Tuesday, July 29th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $2.00.

Tilray Brands Trading Down 6.0%

The stock has a market cap of $1.30 billion, a PE ratio of -0.52 and a beta of 2.04. The stock’s fifty day moving average price is $1.40 and its 200 day moving average price is $0.90. The company has a quick ratio of 1.56, a current ratio of 2.62 and a debt-to-equity ratio of 0.15.

Tilray Brands (NASDAQ:TLRY) last released its quarterly earnings data on Thursday, October 9th. The company reported $0.00 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.03. Tilray Brands had a negative return on equity of 6.79% and a negative net margin of 258.54%.The company had revenue of $209.50 million for the quarter, compared to analysts’ expectations of $205.75 million. On average, sell-side analysts forecast that Tilray Brands, Inc. will post -0.2 EPS for the current year.

Institutional Investors Weigh In On Tilray Brands

A number of large investors have recently added to or reduced their stakes in TLRY. Tidal Investments LLC raised its stake 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 buying an additional 3,776,410 shares during the last quarter. Ausdal Financial Partners Inc. bought a new stake in shares of Tilray Brands in the second quarter worth $939,000. Swiss National Bank increased its position in Tilray Brands by 4.4% during the third quarter. Swiss National Bank now owns 2,013,038 shares of the company’s stock valued at $3,483,000 after acquiring an additional 84,900 shares during the last quarter. Quinn Opportunity Partners LLC boosted its position in Tilray Brands by 11.6% in the second quarter. Quinn Opportunity Partners LLC now owns 1,918,080 shares of the company’s stock worth $795,000 after purchasing an additional 200,000 shares during the last quarter. Finally, TD Asset Management Inc grew its stake in shares of Tilray Brands by 6.5% during the 1st quarter. TD Asset Management Inc now owns 1,627,247 shares of the company’s stock valued at $1,063,000 after purchasing an additional 100,017 shares during the period. Institutional investors own 9.35% of the company’s stock.

About Tilray Brands

Tilray, Inc engages in the research, cultivation, processing, and distribution of medical cannabis. The company offers its products in Argentina, Australia, Canada, Chile, Croatia, Cyprus, the Czech Republic, Germany, New Zealand, and South Africa. Tilray, Inc is headquartered in Canada.