Tilray Brands (NASDAQ:TLRY) Downgraded by Zacks Research to “Strong Sell”

Tilray Brands (NASDAQ:TLRY) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday, Zacks reports.

A number of other research analysts have also weighed in on the company. Wall Street Zen lowered Tilray Brands from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. TD Cowen cut 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. Weiss Ratings cut shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, September 21st. TD Securities upgraded shares of Tilray Brands to a “strong-buy” rating in a report on Friday, July 31st. Finally, ATB Cormark Capital Markets dropped their price objective on shares of Tilray Brands from $8.00 to $6.00 and set a “hold” rating on the stock in a research report on Monday, September 21st. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $7.00.

Tilray Brands Price Performance

Shares of NASDAQ TLRY opened at $3.75 on Tuesday. The business’s 50 day moving average price is $4.35 and its two-hundred day moving average price is $5.16. The company has a market cap of $510.75 million, a PE ratio of -3.47 and a beta of 1.92. The company has a quick ratio of 1.37, a current ratio of 2.21 and a debt-to-equity ratio of 0.22. Tilray Brands has a twelve month low of $3.67 and a twelve month high of $23.20.

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

Insider Transactions at Tilray Brands

In related news, CFO Carl Merton acquired 10,000 shares of the stock in a transaction on Tuesday, August 4th. The shares were purchased at an average price of $4.62 per share, for a total transaction of $46,200.00. Following the purchase, the chief financial officer directly owned 139,753 shares in the company, valued at approximately $645,658.86. The trade was a 7.71% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders purchased a total of 15,000 shares of company stock worth $69,225 over the last 90 days. Corporate insiders own 0.84% of the company’s stock.

Institutional Trading of Tilray Brands

Institutional investors have recently modified their holdings of the stock. Hilton Head Capital Partners LLC bought a new position in shares of Tilray Brands in the fourth quarter worth $38,000. Integrated Wealth Concepts LLC bought a new stake in Tilray Brands during the second quarter worth about $27,000. Essential Partners LLC lifted its position 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. Deutsche Bank AG bought a new stake in Tilray Brands during the second quarter worth about $44,000. Finally, Corient Private Wealth LP acquired a new stake in Tilray Brands during the second quarter worth about $53,000. 9.35% of the stock is currently owned by institutional investors.

About Tilray Brands

Tilray Brands, Inc is a global consumer packaged goods company headquartered in New York. Its operations span cannabis, beverage alcohol, wellness products and related consumer brands. The company develops, produces, markets and distributes cannabis products, including dried flower, pre-rolls, vapes, concentrates, edibles and medical cannabis, where permitted by local regulations.

Tilray also operates a beverage alcohol platform that includes beer, spirits and other alcoholic beverages.