Tilray Brands (NASDAQ:TLRY) Trading Down 3.1% - What's Next?

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

Analyst Upgrades and Downgrades

TLRY has been the subject of a number of analyst reports. Piper Sandler lowered their price target on Tilray Brands from $2.00 to $1.00 and set a "neutral" rating for the company in a research report on Wednesday, April 9th. Roth Capital reiterated a "neutral" rating on shares of Tilray Brands in a report on Monday, April 14th. Finally, Wall Street Zen cut shares of Tilray Brands to a "strong sell" rating in a report on Saturday, July 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Tilray Brands currently has an average rating of "Hold" and an average price target of $1.92.

Tilray Brands Stock Performance

The firm has a market cap of $584.27 million, a PE ratio of -0.55 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. The company has a 50-day simple moving average of $0.44 and a two-hundred day simple moving average of $0.71.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last released its 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 company had revenue of $185.78 million during the quarter, compared to analysts' expectations of $213.38 million. As a group, equities research analysts forecast that Tilray Brands, Inc. will post -0.2 earnings per share for the current year.

Institutional Trading of Tilray Brands

A number of large investors have recently bought and sold shares of the company. Baader Bank Aktiengesellschaft grew its stake in shares of Tilray Brands by 11.0% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 339,706 shares of the company's stock worth $134,000 after acquiring an additional 33,684 shares during the period. AQR Capital Management LLC increased its stake in shares of Tilray Brands by 1,839.7% in the first quarter. AQR Capital Management LLC now owns 607,054 shares of the company's stock worth $399,000 after purchasing an additional 575,757 shares in the last quarter. State of Wyoming lifted its position in shares of Tilray Brands by 133.0% during the first quarter. State of Wyoming now owns 241,165 shares of the company's stock worth $159,000 after acquiring an additional 137,676 shares in the last quarter. Zuckerman Investment Group LLC bought a new position in shares of Tilray Brands in the first quarter worth $33,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Tilray Brands by 30.4% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 527,995 shares of the company's stock valued at $345,000 after purchasing an additional 122,969 shares during the period. 9.35% of the stock is owned by hedge funds and other institutional investors.

About Tilray Brands

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.