Tilray Brands (NASDAQ:TLRY) Shares Down 5.8% - Time to Sell?

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) dropped 5.8% during trading on Tuesday . The company traded as low as $0.40 and last traded at $0.40. Approximately 7,711,373 shares traded hands during trading, a decline of 73% from the average daily volume of 28,999,725 shares. The stock had previously closed at $0.42.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TLRY. Piper Sandler cut their price target on Tilray Brands from $2.00 to $1.00 and set a "neutral" rating for the company in a research note on Wednesday, April 9th. Roth Capital reaffirmed a "neutral" rating on shares of Tilray Brands in a report on Monday, April 14th.

Tilray Brands Price Performance

The business's 50 day moving average is $0.44 and its two-hundred day moving average is $0.79. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.61 and a current ratio of 2.62. The firm has a market capitalization of $362.34 million, a PE ratio of -0.34 and a beta of 1.83.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last announced its quarterly earnings results on Tuesday, April 8th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate 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. Equities research analysts anticipate that Tilray Brands, Inc. will post -0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TLRY. Tidal Investments LLC lifted its holdings in shares of 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 buying an additional 889,086 shares in the last quarter. Bank of Montreal Can increased its holdings in Tilray Brands by 14.4% during the 4th quarter. Bank of Montreal Can now owns 2,488,982 shares of the company's stock worth $3,310,000 after acquiring an additional 312,476 shares during the period. Geode Capital Management LLC lifted its stake in Tilray Brands by 20.1% in the 4th quarter. Geode Capital Management LLC now owns 2,405,911 shares of the company's stock worth $3,200,000 after purchasing an additional 403,371 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Tilray Brands by 54.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company's stock valued at $2,890,000 after purchasing an additional 769,569 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Tilray Brands by 17.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,964,380 shares of the company's stock valued at $2,613,000 after purchasing an additional 286,481 shares in the last quarter. Hedge funds and other institutional investors own 9.35% of the company's stock.

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.