Tilray Brands (NASDAQ:TLRY) Stock Price Down 5.5% – Time to Sell?

Tilray Brands, Inc. (NASDAQ:TLRY)’s share price dropped 5.5% during trading on Thursday . The company traded as low as $1.20 and last traded at $1.21. Approximately 35,928,976 shares changed hands during mid-day trading, a decline of 28% from the average daily volume of 50,123,109 shares. The stock had previously closed at $1.28.

Wall Street Analyst Weigh In

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

Tilray Brands Price Performance

The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of -0.53 and a beta of 2.04. The company’s 50 day moving average is $1.40 and its 200-day moving average is $0.87. The company has a current ratio of 2.62, a quick ratio of 1.56 and a debt-to-equity ratio of 0.15.

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

Institutional Trading of Tilray Brands

A number of hedge funds and other institutional investors have recently modified their holdings of TLRY. Silverlake Wealth Management LLC bought a new stake in shares of Tilray Brands during the third quarter worth $25,000. Oppenheimer & Co. Inc. acquired a new position in Tilray Brands in the third quarter valued at $25,000. Unified Investment Management acquired a new position in shares of Tilray Brands during the third quarter valued at about $26,000. J.W. Cole Advisors Inc. raised its holdings in shares of Tilray Brands by 203.2% during the second quarter. J.W. Cole Advisors Inc. now owns 71,890 shares of the company’s stock valued at $30,000 after purchasing an additional 48,177 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Tilray Brands during the third quarter valued at about $30,000. Institutional investors own 9.35% of the company’s stock.

Tilray Brands Company Profile

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.