Tilray Brands (NASDAQ:TLRY) Stock Price Down 3.2% - Here's Why

Key Points

• Stock down 3.2%: Tilray fell to $6.73 mid-day with volume about 54% below average, trading under its 50-day ($7.98) and 200-day ($10.65) moving averages and carrying a market cap of $784.1M.
• Mixed analyst sentiment: The consensus rating is "Hold" (one Buy, six Hold, one Sell) with a $13.33 average price target, though several firms have recently downgraded coverage and Roth MKM cut its target to $10.
• Recent quarter beat estimates (EPS -$0.02 vs -$0.14; revenue $217.5M vs $211.2M) but the company remains unprofitable with negative margins and analysts expect roughly -$0.20 EPS for the fiscal year.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) traded down 3.2% during mid-day trading on Wednesday . The company traded as low as $6.72 and last traded at $6.73. 1,736,705 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 3,802,264 shares. The stock had previously closed at $6.95.

Analyst Ratings Changes

Several research firms recently weighed in on TLRY. Wall Street Zen cut shares of Tilray Brands from a "hold" rating to a "sell" rating in a research note on Saturday, March 7th. Weiss Ratings restated a "sell (d-)" rating on shares of Tilray Brands in a research note on Wednesday, January 21st. Zacks Research upgraded shares of Tilray Brands from a "strong sell" rating to a "hold" rating in a research report on Wednesday, February 11th. Canaccord Genuity Group assumed coverage on Tilray Brands in a research note on Tuesday, January 27th. They issued a "hold" rating for the company. Finally, Roth Mkm reduced their target price on Tilray Brands from $20.00 to $10.00 and set a "neutral" rating on the stock in a report on Tuesday, January 20th. One equities research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $13.33.

Tilray Brands Stock Down 3.2%

The stock's 50-day moving average is $7.98 and its 200-day moving average is $10.65. The company has a market cap of $784.11 million, a price-to-earnings ratio of -0.30 and a beta of 1.96. The company has a current ratio of 2.81, a quick ratio of 1.72 and a debt-to-equity ratio of 0.19.

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

Hedge Funds Weigh In On Tilray Brands

Hedge funds have recently bought and sold shares of the company. Silverlake Wealth Management LLC purchased a new position in Tilray Brands in the third quarter worth $25,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Tilray Brands during the third quarter valued at approximately $25,000. Unified Investment Management purchased a new stake in Tilray Brands during the 3rd quarter valued at $26,000. J.W. Cole Advisors Inc. raised its stake in shares of Tilray Brands by 203.2% during the second quarter. J.W. Cole Advisors Inc. now owns 71,890 shares of the company's stock valued at $30,000 after acquiring an additional 48,177 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Tilray Brands in the 3rd quarter worth approximately $30,000. 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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