Tilray Brands (NASDAQ:TLRY) Shares Down 1.9% – Here’s What Happened

Tilray Brands, Inc. (NASDAQ:TLRY)’s stock price was down 1.9% on Tuesday . The stock traded as low as $5.40 and last traded at $5.3850. Approximately 3,311,976 shares were traded during mid-day trading, a decline of 5% from the average daily volume of 3,493,866 shares. The stock had previously closed at $5.49.

Analyst Ratings Changes

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

Tilray Brands Trading Down 2.0%

The company has a market cap of $627.03 million, a P/E ratio of -0.39 and a beta of 1.94. The stock’s 50 day moving average is $6.18 and its 200-day moving average is $7.82. The company has a current ratio of 2.79, a quick ratio of 1.66 and a debt-to-equity ratio of 0.19.

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

Insider Transactions at Tilray Brands

In related news, Director David G. Hopkinson sold 33,556 shares of the company’s stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $6.94, for a total value of $232,878.64. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.84% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tilray Brands

A number of hedge funds have recently bought and sold shares of TLRY. Oppenheimer & Co. Inc. bought a new position in Tilray Brands in the 3rd quarter worth about $25,000. Y Intercept Hong Kong Ltd bought a new position in Tilray Brands in the 3rd quarter worth about $30,000. HighPoint Advisor Group LLC bought a new position in Tilray Brands in the 3rd quarter worth about $33,000. Clearstead Advisors LLC boosted its stake in Tilray Brands by 437.3% in the 3rd quarter. Clearstead Advisors LLC now owns 21,625 shares of the company’s stock worth $37,000 after purchasing an additional 17,600 shares in the last quarter. Finally, Hilton Head Capital Partners LLC bought a new position in Tilray Brands in the 4th quarter worth about $38,000. Institutional investors own 9.35% of the company’s stock.

Tilray Brands Company Profile

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.