Tilray Brands (NASDAQ:TLRY) Stock Price Down 4.2% - Should You Sell?

Key Points

• Tilray Brands' shares were down 4.2% to $5.90 on Monday with volume up ~36% (6.24M shares), leaving a market cap of about $687.7M and the stock trading below its 50- and 200-day moving averages.
• The company missed EPS for the quarter (reported -$0.24 vs. -$0.14 expected) despite revenue beating estimates ($206.7M), and remains unprofitable with a negative net margin (-156.51%) and negative ROE.
• Analysts maintain a consensus “Hold” rating with a $11.50 average price target (3 Buys, 4 Holds, 1 Sell) amid recent price-target cuts, and director David Hopkinson recently sold 33,556 shares; insiders own 0.84%.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s stock price was down 4.2% during trading on Monday . The company traded as low as $5.89 and last traded at $5.90. Approximately 6,239,540 shares changed hands during mid-day trading, an increase of 36% from the average daily volume of 4,586,267 shares. The stock had previously closed at $6.16.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on TLRY shares. Canaccord Genuity Group started coverage on Tilray Brands in a report on Tuesday, January 27th. They issued a "hold" rating on the stock. TD Cowen dropped their price objective on Tilray Brands from $10.00 to $7.00 and set a "buy" rating on the stock in a report on Monday, March 30th. ATB Cormark Capital Markets dropped their price objective on Tilray Brands from $9.50 to $9.00 and set a "sector perform" rating on the stock in a report on Thursday, April 2nd. Weiss Ratings upgraded Tilray Brands from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday. Finally, Wall Street Zen upgraded Tilray Brands from a "sell" rating to a "hold" rating in a report on Saturday, March 21st. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $11.50.

Tilray Brands Trading Down 4.2%

The company has a market capitalization of $687.65 million, a P/E ratio of -0.43 and a beta of 1.94. The company has a 50-day simple moving average of $6.92 and a 200 day simple moving average of $9.02. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.66 and a current ratio of 2.79.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last announced its quarterly earnings data on Wednesday, April 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.10). The company had revenue of $206.73 million during the quarter, compared to analyst estimates of $201.35 million. Tilray Brands had a negative return on equity of 3.31% and a negative net margin of 156.51%.During the same quarter in the previous year, the business posted ($0.87) EPS. Sell-side analysts expect that Tilray Brands, Inc. will post -0.58 earnings per share for the current year.

Insider Activity

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

Institutional Investors Weigh In On Tilray Brands

Several hedge funds and other institutional investors have recently modified their holdings of TLRY. Silverlake Wealth Management LLC acquired a new stake in shares of Tilray Brands in the third quarter worth $25,000. Oppenheimer & Co. Inc. bought a new position in shares of Tilray Brands during the 3rd quarter worth approximately $25,000. Unified Investment Management bought a new position in shares of Tilray Brands during the 3rd quarter worth approximately $26,000. Y Intercept Hong Kong Ltd bought a new position in shares of Tilray Brands during the 3rd quarter worth approximately $30,000. Finally, HighPoint Advisor Group LLC bought a new position in shares of Tilray Brands during the 3rd quarter worth approximately $33,000. Institutional investors and hedge funds 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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