Tilray Brands (NASDAQ:TLRY) Trading Down 1.3% - Time to Sell?

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s share price dropped 1.3% on Tuesday . The company traded as low as $0.41 and last traded at $0.41. Approximately 2,478,849 shares traded hands during trading, a decline of 92% from the average daily volume of 29,564,428 shares. The stock had previously closed at $0.41.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Roth Capital reiterated a "neutral" rating on shares of Tilray Brands in a report on Monday, April 14th. Piper Sandler lowered their target price on Tilray Brands from $2.00 to $1.00 and set a "neutral" rating for the company in a research note on Wednesday, April 9th.

Tilray Brands Stock Up 9.4%

The firm's 50 day moving average price is $0.43 and its two-hundred day moving average price is $0.74. The firm has a market capitalization of $534.45 million, a PE ratio of -0.51 and a beta of 1.82. 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 issued its quarterly earnings data on Tuesday, April 8th. The company reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.06). The firm had revenue of $185.78 million during the quarter, compared to analyst estimates of $213.38 million. Tilray Brands had a negative return on equity of 7.40% and a negative net margin of 113.85%. As a group, research analysts forecast that Tilray Brands, Inc. will post -0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Tidal Investments LLC boosted 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 valued at $14,092,000 after buying an additional 889,086 shares during the last quarter. Quinn Opportunity Partners LLC increased its stake in shares of Tilray Brands by 108.0% in the fourth quarter. Quinn Opportunity Partners LLC now owns 1,618,080 shares of the company's stock worth $2,152,000 after buying an additional 840,000 shares during the last quarter. Virtu Financial LLC acquired a new stake in Tilray Brands in the fourth quarter valued at $1,029,000. Dimensional Fund Advisors LP boosted its stake in Tilray Brands by 54.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company's stock valued at $2,890,000 after acquiring an additional 769,569 shares during the last quarter. Finally, Millennium Management LLC bought a new position in Tilray Brands during the 4th quarter valued at $879,000. Hedge funds and other institutional investors own 9.35% of the company's stock.

Tilray Brands Company Profile

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.