Tilray Brands (NASDAQ:TLRY) Trading Down 4.7% – What’s Next?

Shares of Tilray Brands, Inc. (NASDAQ:TLRY) dropped 4.7% during trading on Wednesday . The company traded as low as $1.22 and last traded at $1.23. Approximately 33,930,466 shares were traded during mid-day trading, a decline of 32% from the average daily volume of 49,862,617 shares. The stock had previously closed at $1.29.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TLRY. Jefferies Financial Group lifted their price target on shares of Tilray Brands from $1.50 to $2.00 and gave the company a “buy” rating in a research note on Monday, August 25th. Atb Cap Markets downgraded Tilray Brands from a “hold” rating to a “strong sell” rating in a report on Thursday, October 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tilray Brands in a report on Wednesday, October 8th. Wall Street Zen raised Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Saturday, October 11th. Finally, Zelman & Associates restated a “neutral” rating on shares of Tilray Brands in a report on Tuesday, July 29th. Two 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $2.00.

Tilray Brands Trading Down 4.7%

The stock has a market cap of $1.38 billion, a PE ratio of -0.54 and a beta of 2.04. The company’s fifty day moving average is $1.39 and its 200-day moving average is $0.90. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.62 and a quick ratio of 1.56.

Tilray Brands (NASDAQ:TLRY) last posted its quarterly earnings results on Thursday, October 9th. The company reported $0.00 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.03. The company had revenue of $209.50 million for the quarter, compared to analyst estimates of $205.75 million. Tilray Brands had a negative net margin of 258.54% and a negative return on equity of 6.79%. On average, analysts predict that Tilray Brands, Inc. will post -0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Insigneo Advisory Services LLC acquired a new stake in shares of Tilray Brands during the 3rd quarter worth approximately $46,000. Cresset Asset Management LLC lifted its stake in shares of Tilray Brands by 72.1% in the 3rd quarter. Cresset Asset Management LLC now owns 501,989 shares of the company’s stock valued at $868,000 after purchasing an additional 210,267 shares during the period. Optiver Holding B.V. boosted its holdings in Tilray Brands by 239.4% during the third quarter. Optiver Holding B.V. now owns 224,049 shares of the company’s stock worth $388,000 after buying an additional 158,041 shares in the last quarter. Clearstead Advisors LLC boosted its holdings in Tilray Brands by 437.3% during the third quarter. Clearstead Advisors LLC now owns 21,625 shares of the company’s stock worth $37,000 after buying an additional 17,600 shares in the last quarter. Finally, Cibc World Market Inc. grew its position in Tilray Brands by 93.8% during the third quarter. Cibc World Market Inc. now owns 55,123 shares of the company’s stock valued at $95,000 after buying an additional 26,677 shares during the period. 9.35% of the stock is owned by institutional investors and hedge funds.

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.