Tilray Brands (NASDAQ:TLRY) Shares Down 2.4% - Time to Sell?

Key Points

• Tilray shares fell 2.4% to $2.85 in midday trading, with volume 24% below the average session volume.
• Analyst views are mixed: the stock has a consensus Hold rating and a $5.90 average price target, despite recent upgrades and downgrades.
• Tilray beat quarterly EPS estimates, reporting a loss of $0.02 per share versus the expected $0.18 loss, but revenue of $257.15 million fell short of forecasts; the company also reported negative net margin and return on equity.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s stock price dropped 2.4% during mid-day trading on Monday. The company traded as low as $2.81 and last traded at $2.85. 3,250,871 shares were traded during mid-day trading, a decline of 24% from the average session volume of 4,281,349 shares. The stock had previously closed at $2.92.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Weiss Ratings downgraded Tilray Brands from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday, October 23rd. TD Cowen decreased their price objective on Tilray Brands from $7.00 to $5.00 and set a "buy" rating on the stock in a report on Tuesday, July 14th. TD lowered their target price on shares of Tilray Brands from $4.70 to $4.50 and set a "buy" rating on the stock in a research note on Monday, October 5th. Zacks Research lowered shares of Tilray Brands from a "hold" rating to a "strong sell" rating in a report on Tuesday, September 29th. Finally, TD Securities upgraded shares of Tilray Brands to a "strong-buy" rating in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $5.90.

Tilray Brands Trading Down 2.4%

The firm has a market capitalization of $421.20 million, a price-to-earnings ratio of -2.04 and a beta of 2.04. The company has a fifty day moving average price of $3.59 and a two-hundred day moving average price of $5.34. The company has a current ratio of 1.88, a quick ratio of 1.11 and a debt-to-equity ratio of 0.17.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last posted its quarterly earnings results on Thursday, October 8th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.16. Tilray Brands had a negative return on equity of 10.39% and a negative net margin of 16.91%. The firm had revenue of $257.15 million during the quarter, compared to analysts' expectations of $266.26 million. As a group, research analysts forecast that Tilray Brands, Inc. will post -0.52 earnings per share for the current fiscal year.

Institutional Trading of Tilray Brands

Several large investors have recently added to or reduced their stakes in TLRY. Integrated Wealth Concepts LLC purchased a new position in shares of Tilray Brands during the 2nd quarter worth $27,000. Deutsche Bank AG purchased a new position in Tilray Brands during the second quarter worth about $44,000. Corient Private Wealth LP purchased a new position in Tilray Brands during the second quarter worth about $53,000. Essential Partners LLC raised its stake in Tilray Brands by 110,137.5% during the first quarter. Essential Partners LLC now owns 8,819 shares of the company's stock worth $57,000 after purchasing an additional 8,811 shares during the period. Finally, Centaurus Financial Inc. acquired a new position in Tilray Brands in the 2nd quarter valued at about $58,000. 9.35% of the stock is currently owned by hedge funds and other institutional investors.

About Tilray Brands

Tilray Brands, Inc is a global consumer packaged goods company operating across the cannabis, beverage alcohol, wellness and distribution sectors. Its cannabis business includes adult-use and medical cannabis products such as dried flower, pre-rolls, vapes, concentrates, edibles and beverages, marketed under brands including Good Supply, RIFF and Broken Coast.

The company also owns and operates beverage alcohol businesses, including SweetWater Brewing Company, Montauk Brewing Company, Alpine Beer Company, Green Flash Brewing Co and Blue Point Brewing Company.

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