Tilray Brands (NASDAQ:TLRY) Shares Down 3.4% - What's Next?

Key Points

• Shares fell 3.4% intraday to $6.32 (low $6.28) with trading volume down about 45% versus the average session.
• Analysts' consensus is a Hold (1 Buy, 6 Hold, 1 Sell) with an average target price of $13.33, while Roth MKM recently cut its target to $10 and several firms have upgraded ratings from Sell to Hold.
• Tilray beat expectations last quarter with EPS of ($0.02) versus ($0.14) expected and revenue of $217.5M, but it still posts a negative net margin (−251.7%) and negative P/E, and the stock trades below its 50‑day ($7.60) and 200‑day ($10.39) moving averages.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s stock price fell 3.4% during mid-day trading on Friday . The company traded as low as $6.28 and last traded at $6.32. 2,023,295 shares changed hands during mid-day trading, a decline of 45% from the average session volume of 3,647,494 shares. The stock had previously closed at $6.54.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Wall Street Zen upgraded Tilray Brands from a "sell" rating to a "hold" rating in a research note on Saturday, March 21st. Zacks Research upgraded Tilray Brands from a "strong sell" rating to a "hold" rating in a research note on Wednesday, February 11th. ATB Cormark Capital Markets raised Tilray Brands from a "strong sell" rating to a "hold" rating in a report on Wednesday, December 10th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Tilray Brands in a research note on Wednesday, January 21st. Finally, Roth Mkm decreased their target price on Tilray Brands from $20.00 to $10.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 20th. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $13.33.

Tilray Brands Stock Performance

The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.72 and a current ratio of 2.81. The firm has a market cap of $736.32 million, a P/E ratio of -0.29 and a beta of 1.96. The company's 50 day moving average is $7.60 and its 200 day moving average is $10.39.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last posted its earnings results on Thursday, January 8th. The company reported ($0.02) earnings per share for the quarter, topping analysts' consensus estimates of ($0.14) by $0.12. Tilray Brands had a negative net margin of 251.69% and a negative return on equity of 6.35%. The firm had revenue of $217.51 million for the quarter, compared to analysts' expectations of $211.15 million. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. As a group, equities analysts predict that Tilray Brands, Inc. will post -0.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tilray Brands

Institutional investors and hedge funds have recently bought and sold shares of the company. Tidal Investments LLC boosted its stake in shares of Tilray Brands by 15.0% during the second quarter. Tidal Investments LLC now owns 28,971,835 shares of the company's stock valued at $12,006,000 after purchasing an additional 3,776,410 shares in the last quarter. Millennium Management LLC increased its stake in shares of Tilray Brands by 281.0% in the third quarter. Millennium Management LLC now owns 4,942,319 shares of the company's stock valued at $8,550,000 after buying an additional 3,645,060 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Tilray Brands in the 3rd quarter valued at approximately $5,813,000. Ausdal Financial Partners Inc. bought a new position in Tilray Brands in the 2nd quarter valued at approximately $939,000. Finally, Scientech Research LLC acquired a new stake in Tilray Brands during the 3rd quarter worth approximately $1,748,000. Institutional investors and hedge funds own 9.35% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.