Tilray Brands (NASDAQ:TLRY) Stock Falls 2.4% – Should You Sell?

Tilray Brands, Inc. (NASDAQ:TLRY)’s share price traded down 2.4% during trading on Friday. The stock traded as low as $2.41 and last traded at $2.43. Approximately 2,469,655 shares changed hands during mid-day trading, a decline of 42% from the average daily volume of 4,281,302 shares. The stock had previously closed at $2.49.

Analyst Ratings Changes

A number of analysts recently commented on TLRY shares. Weiss Ratings cut shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, October 23rd. ATB Cormark Capital Markets dropped 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. Wall Street Zen lowered shares of Tilray Brands from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. TD decreased their price target on shares of Tilray Brands from $4.70 to $4.50 and set a “buy” rating for the company in a report on Monday, October 5th. Finally, TD Securities raised shares of Tilray Brands to a “strong-buy” rating in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.90.

Tilray Brands Trading Down 2.4%

The company has a current ratio of 1.88, a quick ratio of 1.11 and a debt-to-equity ratio of 0.17. The stock has a 50-day simple moving average of $3.40 and a 200 day simple moving average of $5.19. The company has a market cap of $359.12 million, a price-to-earnings ratio of -1.74 and a beta of 2.04.

Tilray Brands (NASDAQ:TLRY) last announced its quarterly earnings data on Thursday, October 8th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.16. Tilray Brands had a negative return on equity of 10.39% and a negative net margin of 16.91%. The business had revenue of $257.15 million for the quarter, compared to analyst estimates of $266.26 million. As a group, equities research analysts predict that Tilray Brands, Inc. will post -0.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Tilray Brands

Large investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Tilray Brands in the 2nd quarter worth approximately $2,073,000. Swiss National Bank lifted its stake in Tilray Brands by 4.1% during the 1st quarter. Swiss National Bank now owns 230,503 shares of the company’s stock valued at $1,491,000 after acquiring an additional 9,100 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Tilray Brands by 6.1% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 208,229 shares of the company’s stock valued at $935,000 after acquiring an additional 11,894 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Tilray Brands by 82.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 87,803 shares of the company’s stock valued at $568,000 after acquiring an additional 39,801 shares during the last quarter. Finally, Legal & General Group Plc purchased a new stake in shares of Tilray Brands in the 2nd quarter valued at $381,000. Hedge funds and other institutional investors own 9.35% of the company’s stock.

Tilray Brands Company Profile

Tilray Brands is a global cannabis and consumer packaged goods company. Its cannabis business produces and sells medical and adult-use products, including dried flower, oils, extracts and edibles, under brands such as Good Supply, Solei, Redecan and Broken Coast. The company serves customers in Canada, the United States and international markets. Its activities include medical cannabis distribution in countries where permitted, as well as cannabis and hemp-related products in North America, subject to local regulations.