Tilray Brands (NASDAQ:TLRY) Shares Down 4.8% - Should You Sell?

Key Points

• Tilray Brands shares fell 4.8% to about $6.56 mid-day, with roughly 4.48 million shares traded (slightly below average) and a market cap of about $764.6 million; the stock is trading below its 200‑day moving average ($9.24).
• Analysts hold a consensus rating of Hold with an average price target of $11.50, based on 3 Buys, 4 Holds and 1 Sell and several recent mixed target revisions.
• In the latest quarter Tilray missed on EPS (reported ($0.24) vs. ($0.14) expected), posted a very negative net margin (156.51%) and negative ROE despite a slight revenue beat ($206.7M), and a director recently sold 33,556 shares (insiders own 0.84%).

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) fell 4.8% on Tuesday . The company traded as low as $6.53 and last traded at $6.56. 4,484,855 shares traded hands during mid-day trading, a decline of 1% from the average session volume of 4,537,648 shares. The stock had previously closed at $6.89.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TLRY. Wall Street Zen upgraded Tilray Brands from a "sell" rating to a "hold" rating in a research note on Saturday, March 21st. Weiss Ratings restated a "sell (d-)" rating on shares of Tilray Brands in a research note on Wednesday, January 21st. ATB Cormark Capital Markets cut their target price on Tilray Brands from $9.50 to $9.00 and set a "sector perform" rating on the stock in a research note on Thursday, April 2nd. TD Cowen cut their target price on Tilray Brands from $10.00 to $7.00 and set a "buy" rating on the stock in a research note on Monday, March 30th. Finally, Zacks Research upgraded Tilray Brands from a "strong sell" rating to a "hold" rating in a research note on Wednesday, February 11th. Three investment 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.com, the company presently has a consensus rating of "Hold" and an average target price of $11.50.

Tilray Brands Trading Down 4.8%

The company has a quick ratio of 1.66, a current ratio of 2.79 and a debt-to-equity ratio of 0.19. The firm has a 50 day moving average of $7.00 and a 200 day moving average of $9.24. The firm has a market cap of $764.57 million, a PE ratio of -0.48 and a beta of 2.00.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last posted its quarterly earnings data on Wednesday, April 1st. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.10). Tilray Brands had a negative net margin of 156.51% and a negative return on equity of 3.31%. The firm had revenue of $206.73 million during the quarter, compared to analysts' expectations of $201.35 million. During the same quarter in the previous year, the company posted ($0.87) EPS. Equities analysts anticipate that Tilray Brands, Inc. will post -0.55 earnings per share for the current year.

Insider Buying and Selling

In related news, Director David G. Hopkinson sold 33,556 shares of the company's stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $6.94, for a total value of $232,878.64. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.84% of the company's stock.

Hedge Funds Weigh In On Tilray Brands

Several institutional investors have recently bought and sold shares of the company. Tudor Investment Corp ET AL bought a new stake in Tilray Brands during the 3rd quarter valued at $518,000. Optiver Holding B.V. raised its holdings in Tilray Brands by 239.4% during the 3rd quarter. Optiver Holding B.V. now owns 224,049 shares of the company's stock valued at $388,000 after acquiring an additional 158,041 shares during the period. Cresset Asset Management LLC raised its holdings in Tilray Brands by 72.1% during the 3rd quarter. Cresset Asset Management LLC now owns 501,989 shares of the company's stock valued at $868,000 after acquiring an additional 210,267 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings in Tilray Brands by 99,204,800.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 992,049 shares of the company's stock valued at $1,716,000 after acquiring an additional 992,048 shares during the period. Finally, Zuckerman Investment Group LLC bought a new stake in Tilray Brands during the 3rd quarter valued at $147,000. Hedge funds and other institutional investors own 9.35% of the company's stock.

Tilray Brands Company Profile

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.

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