Tilray Brands (NASDAQ:TLRY) Shares Down 3.3% – Time to Sell?

Tilray Brands, Inc. (NASDAQ:TLRY)’s share price dropped 3.3% on Thursday . The company traded as low as $6.97 and last traded at $7.06. Approximately 3,492,632 shares were traded during trading, a decline of 16% from the average daily volume of 4,135,113 shares. The stock had previously closed at $7.30.

Analysts Set New Price Targets

TLRY has been the topic of several research reports. Wall Street Zen cut shares of Tilray Brands from a “hold” rating to a “sell” rating in a report on Saturday. ATB Cormark Capital Markets upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 10th. Roth Mkm lowered their price target on Tilray Brands from $20.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, January 20th. Canaccord Genuity Group started coverage on Tilray Brands in a research note on Tuesday, January 27th. They issued a “hold” rating on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tilray Brands in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $13.33.

Tilray Brands Stock Performance

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 stock has a market cap of $840.04 million, a P/E ratio of -0.33 and a beta of 1.96. The business’s 50-day moving average price is $8.29 and its 200-day moving average price is $10.95.

Tilray Brands (NASDAQ:TLRY) last announced its earnings results on Thursday, January 8th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.12. The company had revenue of $217.51 million for the quarter, compared to analysts’ expectations of $211.15 million. Tilray Brands had a negative return on equity of 6.35% and a negative net margin of 251.69%.During the same period last year, the firm earned ($0.03) EPS. As a group, sell-side analysts expect that Tilray Brands, Inc. will post -0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Hilton Head Capital Partners LLC purchased a new position in shares of Tilray Brands during the 4th quarter valued at about $38,000. Schonfeld Strategic Advisors LLC increased its holdings in Tilray Brands by 4.5% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 144,358 shares of the company’s stock worth $1,304,000 after acquiring an additional 6,182 shares in the last quarter. IFP Advisors Inc raised its stake in Tilray Brands by 14.3% during the 4th quarter. IFP Advisors Inc now owns 60,318 shares of the company’s stock worth $545,000 after acquiring an additional 7,541 shares during the period. Integrated Wealth Concepts LLC raised its stake in Tilray Brands by 33.8% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 36,977 shares of the company’s stock worth $64,000 after acquiring an additional 9,341 shares during the period. Finally, CreativeOne Wealth LLC lifted its holdings in Tilray Brands by 12.2% during the third quarter. CreativeOne Wealth LLC now owns 87,134 shares of the company’s stock valued at $151,000 after purchasing an additional 9,452 shares in the last quarter. 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.