Tilray Brands (NASDAQ:TLRY) Trading Down 7.4% on Analyst Downgrade

Tilray Brands, Inc. (NASDAQ:TLRY)’s stock price dropped 7.4% on Tuesday after Roth Capital lowered their price target on the stock from $20.00 to $10.00. Roth Capital currently has a neutral rating on the stock. Tilray Brands traded as low as $8.67 and last traded at $8.75. Approximately 6,044,834 shares traded hands during trading, a decline of 13% from the average daily volume of 6,970,036 shares. The stock had previously closed at $9.45.

TLRY has been the subject of several other reports. Zacks Research cut Tilray Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. Atb Cap Markets upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Tilray Brands in a report on Wednesday, October 8th. Finally, 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. One analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $13.33.

Institutional Investors Weigh In On Tilray Brands

Several institutional investors and hedge funds have recently made changes to their positions in the company. Westend Capital Management LLC bought a new position in Tilray Brands during the 4th quarter valued at about $736,000. Tudor Investment Corp ET AL bought a new position in Tilray Brands in the 3rd quarter worth approximately $518,000. Swiss Life Asset Management Ltd lifted its stake in shares of Tilray Brands by 222.9% during the third quarter. Swiss Life Asset Management Ltd now owns 42,503 shares of the company’s stock valued at $74,000 after acquiring an additional 29,339 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in shares of Tilray Brands by 99,204,800.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 992,049 shares of the company’s stock valued at $1,716,000 after purchasing an additional 992,048 shares during the last quarter. Finally, Sassicaia Capital Advisers LLC acquired a new stake in shares of Tilray Brands during the third quarter worth $401,000. Institutional investors and hedge funds own 9.35% of the company’s stock.

Tilray Brands Price Performance

The company has a 50-day moving average price of $9.73 and a 200-day moving average price of $10.84. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.72 and a current ratio of 2.81. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -0.40 and a beta of 1.77.

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

Tilray Brands Company Profile

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.