Tilray Brands (NASDAQ:TLRY) Stock Rating Lowered by Atb Cap Markets

Tilray Brands (NASDAQ:TLRY) was downgraded by analysts at Atb Cap Markets from a “hold” rating to a “strong sell” rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other equities analysts have also issued reports on TLRY. Zelman & Associates restated a “neutral” rating on shares of Tilray Brands in a research report on Tuesday, July 29th. Wall Street Zen raised Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Saturday. Jefferies Financial Group increased their price target on Tilray Brands from $1.50 to $2.00 and gave the stock a “buy” rating in a report on Monday, August 25th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tilray Brands in a report on Wednesday. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $2.00.

Tilray Brands Stock Performance

Shares of TLRY opened at $1.72 on Thursday. The company has a current ratio of 2.46, a quick ratio of 1.49 and a debt-to-equity ratio of 0.20. The firm has a market cap of $1.89 billion, a PE ratio of -0.76 and a beta of 1.98. The company’s 50 day simple moving average is $1.24 and its 200-day simple moving average is $0.76. Tilray Brands has a 12-month low of $0.35 and a 12-month high of $2.32.

Tilray Brands (NASDAQ:TLRY) last announced its earnings results on Monday, July 28th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.05. The business had revenue of $224.54 million for the quarter, compared to analyst estimates of $250.41 million. Tilray Brands had a negative net margin of 258.54% and a negative return on equity of 6.11%. As a group, equities analysts predict that Tilray Brands will post -0.2 EPS for the current year.

Insider Transactions at Tilray Brands

In other Tilray Brands news, CEO Irwin D. Simon acquired 165,000 shares of the business’s stock in a transaction on Wednesday, July 30th. The stock was purchased at an average price of $0.61 per share, for a total transaction of $100,650.00. Following the completion of the transaction, the chief executive officer owned 3,941,633 shares of the company’s stock, valued at $2,404,396.13. The trade was a 4.37% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TLRY. Tidal Investments LLC raised its position in Tilray Brands by 15.0% in the second quarter. Tidal Investments LLC now owns 28,971,835 shares of the company’s stock worth $12,006,000 after acquiring an additional 3,776,410 shares in the last quarter. Ausdal Financial Partners Inc. purchased a new position in Tilray Brands in the second quarter worth $939,000. AQR Capital Management LLC raised its position in Tilray Brands by 1,839.7% in the first quarter. AQR Capital Management LLC now owns 607,054 shares of the company’s stock worth $399,000 after acquiring an additional 575,757 shares in the last quarter. XTX Topco Ltd purchased a new position in Tilray Brands in the second quarter worth $112,000. Finally, MCF Advisors LLC purchased a new position in Tilray Brands in the first quarter worth $132,000. Hedge funds and other institutional investors own 9.35% of the company’s stock.

Tilray Brands Company Profile

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.