Tilray Brands (NASDAQ:TLRY) Stock Price Down 1.5% – Time to Sell?

Shares of Tilray Brands, Inc. (NASDAQ:TLRY) traded down 1.5% during mid-day trading on Thursday . The company traded as low as $4.51 and last traded at $4.57. 2,867,074 shares were traded during trading, a decline of 33% from the average session volume of 4,280,556 shares. The stock had previously closed at $4.64.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Weiss Ratings raised Tilray Brands from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday. TD Cowen lowered their price target on Tilray Brands from $7.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, July 14th. TD Securities upgraded Tilray Brands to a “strong-buy” rating in a research note on Friday, July 31st. Finally, Wall Street Zen downgraded shares of Tilray Brands from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $8.00.

Tilray Brands Trading Down 1.5%

The stock has a market cap of $622.45 million, a PE ratio of -4.23 and a beta of 1.90. The company’s fifty day moving average is $4.47 and its 200-day moving average is $5.74. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.21 and a quick ratio of 1.37.

Tilray Brands (NASDAQ:TLRY) last posted its earnings results on Tuesday, July 28th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.42). Tilray Brands had a negative return on equity of 7.76% and a negative net margin of 13.11%.The company had revenue of $281.71 million for the quarter, compared to analyst estimates of $246.30 million. On average, analysts predict that Tilray Brands, Inc. will post -0.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Tilray Brands

In other news, CFO Carl A. Merton acquired 10,000 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were bought at an average price of $4.62 per share, for a total transaction of $46,200.00. Following the acquisition, the chief financial officer owned 139,753 shares of the company’s stock, valued at approximately $645,658.86. This trade represents a 7.71% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders purchased a total of 15,000 shares of company stock valued at $69,225 in the last quarter. Company insiders own 0.84% of the company’s stock.

Institutional Investors Weigh In On Tilray Brands

A number of hedge funds have recently modified their holdings of the company. Amundi purchased a new stake in shares of Tilray Brands in the 2nd quarter valued at approximately $131,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Tilray Brands in the second quarter valued at approximately $75,000. California State Teachers Retirement System grew its position in Tilray Brands by 440.6% in the second quarter. California State Teachers Retirement System now owns 546,518 shares of the company’s stock worth $2,454,000 after acquiring an additional 445,414 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Tilray Brands by 6.1% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 208,229 shares of the company’s stock worth $935,000 after acquiring an additional 11,894 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in Tilray Brands during the second quarter worth $182,000. Hedge funds and other institutional investors own 9.35% of the company’s stock.

About Tilray Brands

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.