Tilray Brands (NASDAQ:TLRY) Trading Down 3.1% - Should You Sell?

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s stock price fell 3.1% during mid-day trading on Thursday . The stock traded as low as $0.64 and last traded at $0.65. 16,289,205 shares were traded during mid-day trading, a decline of 47% from the average session volume of 30,766,327 shares. The stock had previously closed at $0.68.

Analysts Set New Price Targets

Several brokerages have issued reports on TLRY. Wall Street Zen downgraded shares of Tilray Brands to a "strong sell" rating in a research report on Saturday, July 5th. Roth Capital reissued a "neutral" rating on shares of Tilray Brands in a research report on Monday, April 14th. Finally, Piper Sandler decreased their price target on shares of Tilray Brands from $2.00 to $1.00 and set a "neutral" rating for the company in a research report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $1.92.

Tilray Brands Stock Down 0.3%

The firm has a market cap of $677.37 million, a price-to-earnings ratio of -0.64 and a beta of 1.82. The firm's fifty day moving average is $0.44 and its two-hundred day moving average is $0.72. 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 issued 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 net margin of 113.85% and a negative return on equity of 7.40%. The business had revenue of $185.78 million during the quarter, compared to analyst estimates of $213.38 million. On average, sell-side analysts expect that Tilray Brands, Inc. will post -0.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Tilray Brands

Institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its position in shares of Tilray Brands by 54.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company's stock worth $2,890,000 after purchasing an additional 769,569 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Tilray Brands by 112.7% in the fourth quarter. JPMorgan Chase & Co. now owns 919,082 shares of the company's stock worth $1,222,000 after acquiring an additional 487,051 shares during the last quarter. Millennium Management LLC bought a new position in Tilray Brands in the fourth quarter worth $879,000. Raymond James Financial Inc. bought a new position in Tilray Brands in the fourth quarter worth $255,000. Finally, Tidal Investments LLC lifted its position in Tilray Brands by 9.2% in the fourth quarter. Tidal Investments LLC now owns 10,595,264 shares of the company's stock worth $14,092,000 after purchasing an additional 889,086 shares during the period. 9.35% of the stock is owned by institutional investors and hedge funds.

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.

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