Tilray Brands (NASDAQ:TLRY) Shares Down 3.2% - Should You Sell?

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s share price was down 3.2% during trading on Friday . The stock traded as low as $0.37 and last traded at $0.37. Approximately 13,892,076 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 34,303,688 shares. The stock had previously closed at $0.38.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Roth Capital restated a "neutral" rating on shares of Tilray Brands in a report on Monday, April 14th. Piper Sandler cut their price objective on shares of Tilray Brands from $2.00 to $1.00 and set a "neutral" rating on the stock in a report on Wednesday, April 9th.

Tilray Brands Stock Down 2.7%

The stock has a 50-day moving average of $0.44 and a 200 day moving average of $0.80. The company has a market capitalization of $375.42 million, a PE ratio of -0.36 and a beta of 1.83. The company has a quick ratio of 1.61, a current ratio of 2.62 and a debt-to-equity ratio of 0.12.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last announced its quarterly earnings data on Tuesday, April 8th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.06). The business had revenue of $185.78 million during the quarter, compared to the consensus estimate of $213.38 million. Tilray Brands had a negative net margin of 113.85% and a negative return on equity of 7.40%. Sell-side analysts anticipate that Tilray Brands, Inc. will post -0.2 EPS for the current year.

Institutional Trading of Tilray Brands

Several hedge funds have recently added to or reduced their stakes in the stock. Tidal Investments LLC increased its stake in shares of Tilray Brands by 9.2% during the 4th quarter. Tidal Investments LLC now owns 10,595,264 shares of the company's stock worth $14,092,000 after purchasing an additional 889,086 shares during the last quarter. Bank of Montreal Can grew its holdings in Tilray Brands by 14.4% during the fourth quarter. Bank of Montreal Can now owns 2,488,982 shares of the company's stock valued at $3,310,000 after purchasing an additional 312,476 shares during the period. Geode Capital Management LLC increased its position in Tilray Brands by 20.1% in the fourth quarter. Geode Capital Management LLC now owns 2,405,911 shares of the company's stock worth $3,200,000 after buying an additional 403,371 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Tilray Brands by 54.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company's stock valued at $2,890,000 after buying an additional 769,569 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Tilray Brands by 17.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,964,380 shares of the company's stock valued at $2,613,000 after buying an additional 286,481 shares during the last quarter. Institutional investors own 9.35% of the company's stock.

About Tilray Brands

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.

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