Tilray Brands (NASDAQ:TLRY) Trading Down 5.4% - Should You Sell?

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s share price dropped 5.4% during trading on Friday . The company traded as low as $0.59 and last traded at $0.60. Approximately 12,244,026 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 30,903,672 shares. The stock had previously closed at $0.64.

Wall Street Analyst Weigh In

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

Tilray Brands Price Performance

The company has a current ratio of 2.62, a quick ratio of 1.61 and a debt-to-equity ratio of 0.12. The firm has a market cap of $611.95 million, a PE ratio of -0.58 and a beta of 1.82. The stock has a 50 day simple moving average of $0.44 and a 200-day simple moving average of $0.71.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last released its quarterly earnings data 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). The business had revenue of $185.78 million during the quarter, compared to the consensus estimate of $213.38 million. Tilray Brands had a negative return on equity of 7.40% and a negative net margin of 113.85%. Equities 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

Institutional investors have recently bought and sold shares of the stock. Lido Advisors LLC bought a new position in shares of Tilray Brands during the 4th quarter valued at about $28,000. Dudley Capital Management LLC purchased a new stake in shares of Tilray Brands in the fourth quarter worth about $29,000. Brooklyn FI LLC bought a new position in Tilray Brands during the fourth quarter valued at approximately $36,000. NewEdge Advisors LLC boosted its stake in Tilray Brands by 92.1% during the fourth quarter. NewEdge Advisors LLC now owns 27,406 shares of the company's stock valued at $36,000 after buying an additional 13,136 shares during the last quarter. Finally, Bank of Nova Scotia purchased a new position in Tilray Brands during the 4th quarter valued at approximately $41,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.