Tilray Brands (NASDAQ:TLRY) Stock Price Down 2.3% – Time to Sell?
by Scott Moore · The Cerbat GemTilray Brands, Inc. (NASDAQ:TLRY – Get Free Report)’s share price was down 2.3% during mid-day trading on Thursday . The company traded as low as $6.72 and last traded at $6.79. Approximately 2,670,441 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 3,576,508 shares. The stock had previously closed at $6.95.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on TLRY shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Tilray Brands in a report on Wednesday, January 21st. Wall Street Zen raised shares of Tilray Brands from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. TD Cowen lowered their price target on shares of Tilray Brands from $10.00 to $7.00 and set a “buy” rating for the company in a research report on Monday, March 30th. Zacks Research raised shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 11th. Finally, Canaccord Genuity Group began coverage on shares of Tilray Brands in a research note on Tuesday, January 27th. They set a “hold” rating for the company. Three research 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 MarketBeat, the stock has an average rating of “Hold” and an average price target of $11.50.
Check Out Our Latest Stock Report on TLRY
Tilray Brands Stock Performance
The company has a current ratio of 2.79, a quick ratio of 1.66 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $799.53 million, a PE ratio of -0.50 and a beta of 2.00. The firm’s fifty day moving average price is $7.06 and its two-hundred day moving average price is $9.77.
Tilray Brands (NASDAQ:TLRY – Get Free Report) last posted its earnings results on Wednesday, April 1st. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.10). The firm had revenue of $206.73 million for the quarter, compared to analysts’ expectations of $201.35 million. Tilray Brands had a negative net margin of 156.51% and a negative return on equity of 3.31%. During the same period last year, the firm earned ($0.87) earnings per share. As a group, equities research analysts forecast that Tilray Brands, Inc. will post -0.2 EPS for the current year.
Hedge Funds Weigh In On Tilray Brands
Several institutional investors have recently made changes to their positions in TLRY. Silverlake Wealth Management LLC acquired a new stake in Tilray Brands in the 3rd quarter valued at $25,000. Oppenheimer & Co. Inc. acquired a new stake in Tilray Brands in the 3rd quarter valued at $25,000. Unified Investment Management acquired a new stake in Tilray Brands in the 3rd quarter valued at $26,000. Y Intercept Hong Kong Ltd acquired a new stake in Tilray Brands in the 3rd quarter valued at $30,000. Finally, HighPoint Advisor Group LLC acquired a new stake in Tilray Brands in the 3rd quarter valued at $33,000. 9.35% of the stock is owned by hedge funds and other institutional investors.
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.