Tilray Brands (NASDAQ:TLRY) Shares Down 2.7% – Here’s Why

Tilray Brands, Inc. (NASDAQ:TLRY)’s share price was down 2.7% during mid-day trading on Friday . The stock traded as low as $4.94 and last traded at $4.98. Approximately 3,137,548 shares traded hands during trading, a decline of 28% from the average daily volume of 4,348,590 shares. The stock had previously closed at $5.12.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on TLRY shares. ATB Cormark Capital Markets reduced their price objective on shares of Tilray Brands from $9.50 to $9.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 2nd. Weiss Ratings cut shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 13th. 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 research 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. Finally, TD Cowen cut their target price 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 investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $11.50.

Tilray Brands Stock Performance

The business’s fifty day moving average is $5.97 and its two-hundred day moving average is $7.53. The company has a quick ratio of 1.66, a current ratio of 2.79 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $580.42 million, a PE ratio of -0.36 and a beta of 1.88.

Tilray Brands (NASDAQ:TLRY) last posted its earnings results on Wednesday, April 1st. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.10). Tilray Brands had a negative net margin of 156.51% and a negative return on equity of 3.31%. The business had revenue of $206.73 million during the quarter, compared to analysts’ expectations of $201.35 million. During the same period last year, the business posted ($0.87) earnings per share. As a group, 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 related news, Director David G. Hopkinson sold 33,556 shares of the firm’s stock in a transaction on 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Hilton Head Capital Partners LLC purchased a new position in Tilray Brands during the fourth quarter worth $38,000. Essential Partners LLC boosted its stake in Tilray Brands by 110,137.5% during the first quarter. Essential Partners LLC now owns 8,819 shares of the company’s stock worth $57,000 after buying an additional 8,811 shares during the period. Engineers Gate Manager LP purchased a new position in Tilray Brands during the fourth quarter worth $126,000. Oppenheimer & Co. Inc. purchased a new position in Tilray Brands during the third quarter worth $25,000. Finally, R Squared Ltd purchased a new position in Tilray Brands during the first quarter worth $94,000. 9.35% of the stock is owned by hedge funds and other 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.