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 note issued on Tuesday,Zacks.com reports.

A number of other research firms have also weighed in on TLRY. Wall Street Zen upgraded Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Saturday, October 11th. Atb Cap Markets upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 10th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Tilray Brands in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $15.00.

Tilray Brands Price Performance

NASDAQ TLRY opened at $9.90 on Tuesday. The stock has a market capitalization of $1.11 billion, a P/E ratio of -0.45 and a beta of 1.77. Tilray Brands has a 1 year low of $3.51 and a 1 year high of $23.20. The business’s fifty day moving average is $9.91 and its two-hundred day moving average is $10.70. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.72 and a current ratio of 2.81.

Tilray Brands (NASDAQ:TLRY) last released its quarterly earnings data on Thursday, January 8th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.27). The company had revenue of $217.51 million for the quarter, compared to the consensus estimate 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 in the prior year, the business earned ($0.03) earnings per share. On average, research analysts forecast that Tilray Brands will post -0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tilray Brands

Large investors have recently made changes to their positions in the company. Westend Capital Management LLC acquired a new position in Tilray Brands during the fourth quarter worth $736,000. Tudor Investment Corp ET AL acquired a new stake in shares of Tilray Brands during the 3rd quarter valued at about $518,000. Swiss Life Asset Management Ltd boosted its stake in Tilray Brands by 222.9% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 42,503 shares of the company’s stock valued at $74,000 after buying an additional 29,339 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in Tilray Brands by 99,204,800.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 992,049 shares of the company’s stock valued at $1,716,000 after buying an additional 992,048 shares in the last quarter. Finally, Sassicaia Capital Advisers LLC bought a new stake in shares of Tilray Brands during the third quarter worth $401,000. 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.