Tilray Brands (NASDAQ:TLRY) Stock Price Down 5.5% – Time to Sell?

Tilray Brands, Inc. (NASDAQ:TLRY)’s stock price was down 5.5% during mid-day trading on Thursday . The stock traded as low as $1.20 and last traded at $1.21. Approximately 35,928,976 shares changed hands during mid-day trading, a decline of 28% from the average daily volume of 50,123,109 shares. The stock had previously closed at $1.28.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TLRY. Zelman & Associates reiterated a “neutral” rating on shares of Tilray Brands in a report on Tuesday, July 29th. Jefferies Financial Group raised their target price on Tilray Brands from $1.50 to $2.00 and gave the stock a “buy” rating in a research report on Monday, August 25th. Wall Street Zen raised Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Saturday, October 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tilray Brands in a research report on Wednesday, October 8th. Finally, Atb Cap Markets lowered Tilray Brands from a “hold” rating to a “strong sell” rating in a report on Thursday, October 9th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $2.00.

Tilray Brands Price Performance

The company has a 50 day moving average of $1.40 and a 200 day moving average of $0.87. The company has a quick ratio of 1.56, a current ratio of 2.62 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of -0.53 and a beta of 2.04.

Tilray Brands (NASDAQ:TLRY) last issued its earnings results on Thursday, October 9th. The company reported $0.00 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.03. The company had revenue of $209.50 million during the quarter, compared to the consensus estimate of $205.75 million. Tilray Brands had a negative return on equity of 6.79% and a negative net margin of 258.54%. As a group, equities research analysts forecast that Tilray Brands, Inc. will post -0.2 EPS for the current fiscal year.

Institutional Trading of Tilray Brands

Several large investors have recently added to or reduced their stakes in TLRY. Dudley Capital Management LLC increased its position in shares of Tilray Brands by 73.3% during the 3rd quarter. Dudley Capital Management LLC now owns 26,000 shares of the company’s stock valued at $45,000 after purchasing an additional 11,000 shares during the period. Arizona State Retirement System boosted its position in shares of Tilray Brands by 4.3% in the third quarter. Arizona State Retirement System now owns 307,193 shares of the company’s stock worth $531,000 after buying an additional 12,675 shares during the period. Brighton Jones LLC boosted its position in shares of Tilray Brands by 28.3% in the third quarter. Brighton Jones LLC now owns 59,510 shares of the company’s stock worth $103,000 after buying an additional 13,137 shares during the period. Oppenheimer & Co. Inc. acquired a new stake in shares of Tilray Brands in the third quarter worth $25,000. Finally, Silverlake Wealth Management LLC acquired a new stake in Tilray Brands during the third quarter valued at $25,000. 9.35% of the stock is currently owned by institutional investors and hedge funds.

About Tilray Brands

Tilray, Inc engages in the research, cultivation, processing, and distribution of medical cannabis. The company offers its products in Argentina, Australia, Canada, Chile, Croatia, Cyprus, the Czech Republic, Germany, New Zealand, and South Africa. Tilray, Inc is headquartered in Canada.