Tilray Brands (NASDAQ:TLRY) Shares Down 1.9% – Should You Sell?

Tilray Brands, Inc. (NASDAQ:TLRY) traded down 1.9% during trading on Tuesday . The stock traded as low as $5.40 and last traded at $5.3850. 3,311,976 shares traded hands during trading, a decline of 5% from the average session volume of 3,493,866 shares. The stock had previously closed at $5.49.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. ATB Cormark Capital Markets reduced their price target on Tilray Brands from $9.50 to $9.00 and set a “sector perform” rating on the stock in a report on Thursday, April 2nd. TD Cowen reduced their price target on Tilray Brands from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Monday, March 30th. Wall Street Zen upgraded shares of Tilray Brands from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. 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. Finally, Zacks Research upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 11th. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Tilray Brands currently has an average rating of “Hold” and an average target price of $11.50.

Tilray Brands Stock Performance

The stock has a market capitalization of $595.57 million, a PE ratio of -0.37 and a beta of 1.88. The firm’s fifty day moving average is $6.14 and its 200-day moving average is $7.73. The company has a current ratio of 2.79, a quick ratio of 1.66 and a debt-to-equity ratio of 0.19.

Tilray Brands (NASDAQ:TLRY) last issued its quarterly earnings data 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). The company had revenue of $206.73 million during the quarter, compared to analysts’ expectations of $201.35 million. Tilray Brands had a negative net margin of 156.51% and a negative return on equity of 3.31%. During the same quarter last year, the firm posted ($0.87) earnings per share. As a group, research analysts anticipate that Tilray Brands, Inc. will post -0.58 earnings per share for the current year.

Insider Transactions at Tilray Brands

In related news, Director David G. Hopkinson sold 33,556 shares of the business’s 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.84% of the company’s stock.

Institutional Trading of Tilray Brands

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Essential Partners LLC increased 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 purchasing an additional 8,811 shares during the period. Entropy Technologies LP purchased a new stake in Tilray Brands during the first quarter worth about $123,000. Baader Bank Aktiengesellschaft increased its stake in Tilray Brands by 17.7% during the first quarter. Baader Bank Aktiengesellschaft now owns 47,938 shares of the company’s stock worth $293,000 after purchasing an additional 7,226 shares during the period. Dimensional Fund Advisors LP increased its stake in Tilray Brands by 82.9% during the first quarter. Dimensional Fund Advisors LP now owns 87,803 shares of the company’s stock worth $568,000 after purchasing an additional 39,801 shares during the period. Finally, Swiss National Bank increased its stake in Tilray Brands by 4.1% during the first quarter. Swiss National Bank now owns 230,503 shares of the company’s stock worth $1,491,000 after purchasing an additional 9,100 shares during the period. 9.35% of the stock is currently 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.