Tilray Brands (NASDAQ:TLRY) Shares Down 3% – Here’s Why

Tilray Brands, Inc. (NASDAQ:TLRY)’s stock price was down 3% during mid-day trading on Monday . The company traded as low as $4.58 and last traded at $4.59. Approximately 3,485,031 shares were traded during trading, a decline of 19% from the average session volume of 4,321,844 shares. The stock had previously closed at $4.73.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TLRY. Wall Street Zen upgraded shares of Tilray Brands from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. ATB Cormark Capital Markets cut their price objective on Tilray Brands from $9.50 to $9.00 and set a “sector perform” rating for the company in a report on Thursday, April 2nd. Weiss Ratings cut Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 13th. TD Cowen lowered their target price on Tilray Brands from $10.00 to $7.00 and set a “buy” rating on the stock in a research note on Monday, March 30th. Finally, Roth Mkm raised Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Thursday, April 2nd. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Tilray Brands has a consensus rating of “Hold” and a consensus target price of $11.50.

Tilray Brands Price Performance

The stock has a market capitalization of $534.96 million, a P/E ratio of -0.34 and a beta of 1.88. The stock’s fifty day moving average is $5.77 and its 200-day moving average is $7.34. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.79 and a quick ratio of 1.66.

Tilray Brands (NASDAQ:TLRY) last posted its earnings results on Wednesday, April 1st. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.10). Tilray Brands had a negative return on equity of 3.31% and a negative net margin of 156.51%.The business had revenue of $206.73 million for the quarter, compared to analyst estimates of $201.35 million. During the same period in the previous year, the company earned ($0.87) earnings per share. On average, equities analysts anticipate that Tilray Brands, Inc. will post -0.58 earnings per share for the current year.

Insider Activity at Tilray Brands

In other news, Director David G. Hopkinson sold 33,556 shares of the stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $6.94, for a total transaction of $232,878.64. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.84% of the company’s stock.

Institutional Investors Weigh In On Tilray Brands

A number of large investors have recently added to or reduced their stakes in TLRY. Hilton Head Capital Partners LLC bought a new position in shares of Tilray Brands in the fourth quarter valued at approximately $38,000. Pictet Asset Management Holding SA boosted its holdings in shares of Tilray Brands by 38.9% during the 1st quarter. Pictet Asset Management Holding SA now owns 18,387 shares of the company’s stock worth $119,000 after buying an additional 5,145 shares during the period. Schonfeld Strategic Advisors LLC grew its stake in Tilray Brands by 4.5% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 144,358 shares of the company’s stock valued at $1,304,000 after buying an additional 6,182 shares during the last quarter. Baader Bank Aktiengesellschaft grew its stake in Tilray Brands by 17.7% in the 1st quarter. Baader Bank Aktiengesellschaft now owns 47,938 shares of the company’s stock valued at $293,000 after buying an additional 7,226 shares during the last quarter. Finally, IFP Advisors Inc raised its holdings in Tilray Brands by 14.3% in the 4th quarter. IFP Advisors Inc now owns 60,318 shares of the company’s stock worth $545,000 after acquiring an additional 7,541 shares during the period. 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.