Tilray Brands (NASDAQ:TLRY) Stock Falls 1.5% – Here’s Why

Tilray Brands, Inc. (NASDAQ:TLRY) was down 1.5% during mid-day trading on Wednesday. The stock traded as low as $2.50 and last traded at $2.61. 4,895,355 shares traded hands during mid-day trading, an increase of 14% from the average daily volume of 4,284,587 shares. The stock had previously closed at $2.65.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TLRY. Wall Street Zen lowered shares of Tilray Brands from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. TD Securities raised shares of Tilray Brands to a “strong-buy” rating in a research note on Friday, July 31st. Weiss Ratings cut shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, October 23rd. TD Cowen decreased their target price on shares of Tilray Brands from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Tuesday, July 14th. Finally, ATB Cormark Capital Markets lowered their target price on shares of Tilray Brands from $8.00 to $6.00 and set a “hold” rating on the stock in a report on Monday, September 21st. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.90.

Tilray Brands Price Performance

The company has a current ratio of 1.88, a quick ratio of 1.11 and a debt-to-equity ratio of 0.17. The business has a 50-day moving average of $3.52 and a 200 day moving average of $5.28. The firm has a market capitalization of $385.73 million, a PE ratio of -1.86 and a beta of 2.04.

Tilray Brands (NASDAQ:TLRY) last posted its quarterly earnings data on Thursday, October 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.16. Tilray Brands had a negative net margin of 16.91% and a negative return on equity of 10.39%. The firm had revenue of $257.15 million for the quarter, compared to the consensus estimate of $266.26 million. As a group, research analysts anticipate that Tilray Brands, Inc. will post -0.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Tilray Brands

A number of institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Tilray Brands during the 2nd quarter worth approximately $2,073,000. Swiss National Bank lifted its holdings 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 acquiring an additional 9,100 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings 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 period. Dimensional Fund Advisors LP boosted its position in Tilray Brands by 82.9% in 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 last quarter. Finally, Legal & General Group Plc purchased a new position in Tilray Brands in the second quarter worth $381,000. 9.35% of the stock is owned by institutional investors.

About Tilray Brands

Tilray Brands is a global cannabis and consumer packaged goods company. Its cannabis business produces and sells medical and adult-use products, including dried flower, oils, extracts and edibles, under brands such as Good Supply, Solei, Redecan and Broken Coast. The company serves customers in Canada, the United States and international markets. Its activities include medical cannabis distribution in countries where permitted, as well as cannabis and hemp-related products in North America, subject to local regulations.