Tilray Brands (NASDAQ:TLRY) Shares Down 1.3% - Here's What Happened

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

Analyst Upgrades and Downgrades

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

Tilray Brands Stock Performance

The firm's 50 day moving average price is $0.43 and its 200-day moving average price is $0.74. The firm has a market cap of $534.45 million, a price-to-earnings ratio of -0.51 and a beta of 1.82. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.62 and a quick ratio of 1.61.

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

Institutional Investors Weigh In On Tilray Brands

Institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its stake in Tilray Brands by 54.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company's stock worth $2,890,000 after buying an additional 769,569 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Tilray Brands by 112.7% during the fourth quarter. JPMorgan Chase & Co. now owns 919,082 shares of the company's stock worth $1,222,000 after buying an additional 487,051 shares in the last quarter. Millennium Management LLC acquired a new stake in Tilray Brands during the fourth quarter worth $879,000. Raymond James Financial Inc. acquired a new stake in Tilray Brands during the fourth quarter worth $255,000. Finally, Tidal Investments LLC lifted its holdings in shares of Tilray Brands by 9.2% during the fourth quarter. Tidal Investments LLC now owns 10,595,264 shares of the company's stock valued at $14,092,000 after acquiring an additional 889,086 shares during the period. Institutional investors and hedge funds 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.