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

Tilray Brands, Inc. (NASDAQ:TLRY) traded down 2.9% on Wednesday . The company traded as low as $5.02 and last traded at $5.02. 2,706,153 shares were traded during trading, a decline of 38% from the average session volume of 4,369,632 shares. The stock had previously closed at $5.17.

Trending Headlines about Tilray Brands

Here are the key news stories impacting Tilray Brands this week:

• Positive Sentiment: Tilray Medical Germany launched ARX, a new premium medical cannabis brand cultivated in Germany, which could strengthen its position in Europe’s medical cannabis market and add a higher-value product line. Tilray Medical Germany Launches ARX™, a New Premium Medical Cannabis Brand Cultivated in Germany
• Positive Sentiment: Tilray is expanding its beverage footprint by bringing 24 U.S. craft beer brands to the U.K. through BrewDog bars and online sales, supporting growth outside the core cannabis business. Tilray brings US craft beer brands to UK through BrewDog
• Neutral Sentiment: Recent coverage also highlighted Tilray funding the Lyphe buyout and a debt reduction transaction with new shares, which may help the balance sheet but also raises dilution concerns for shareholders. Tilray Reduces Debt Through Private Debt-for-Equity Exchange

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TLRY. Roth Mkm upgraded shares of Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 price objective on the stock in a report on Thursday, April 2nd. Wall Street Zen raised shares of Tilray Brands from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Zacks Research raised shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 11th. ATB Cormark Capital Markets cut their price target on shares of Tilray Brands from $9.50 to $9.00 and set a “sector perform” rating for the company in a report on Thursday, April 2nd. Finally, TD Cowen cut their price target on shares of Tilray Brands from $10.00 to $7.00 and set a “buy” rating for the company in a report on Monday, March 30th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $11.50.

Tilray Brands Stock Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 2.79 and a quick ratio of 1.66. The company’s 50-day moving average price is $6.01 and its two-hundred day moving average price is $7.58. The company has a market capitalization of $585.08 million, a price-to-earnings ratio of -0.37 and a beta of 1.88.

Tilray Brands (NASDAQ:TLRY) last issued its earnings results on Wednesday, April 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.10). Tilray Brands had a negative return on equity of 3.31% and a negative net margin of 156.51%.The company had revenue of $206.73 million for the quarter, compared to the consensus estimate of $201.35 million. During the same period in the prior year, the company earned ($0.87) earnings per share. On average, equities research analysts anticipate that Tilray Brands, Inc. will post -0.58 EPS for the current fiscal year.

Insider Buying and Selling at Tilray Brands

In other news, Director David G. Hopkinson sold 33,556 shares of Tilray Brands stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $6.94, for a total value of $232,878.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.84% of the stock is owned by insiders.

Institutional Investors Weigh In On Tilray Brands

Several hedge funds have recently bought and sold shares of TLRY. AQR Capital Management LLC lifted its position in Tilray Brands by 1,839.7% during the first quarter. AQR Capital Management LLC now owns 607,054 shares of the company’s stock valued at $399,000 after purchasing an additional 575,757 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Tilray Brands in the second quarter worth $112,000. Cerity Partners LLC increased its stake in shares of Tilray Brands by 98.5% in the second quarter. Cerity Partners LLC now owns 92,560 shares of the company’s stock worth $38,000 after buying an additional 45,929 shares during the period. Ausdal Financial Partners Inc. purchased a new position in Tilray Brands during the 2nd quarter valued at $939,000. Finally, Bank of America Corp DE increased its position in Tilray Brands by 26.5% during the 2nd quarter. Bank of America Corp DE now owns 311,810 shares of the company’s stock valued at $129,000 after purchasing an additional 65,379 shares during the period. 9.35% of the stock is currently owned by institutional investors.

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.