Tilray Brands, Inc. (NASDAQ:TLRY) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lessened its position in Tilray Brands, Inc. (NASDAQ:TLRY) by 57.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 70,110 shares of the company’s stock after selling 96,216 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Tilray Brands were worth $46,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lido Advisors LLC purchased a new position in shares of Tilray Brands in the fourth quarter valued at approximately $28,000. Dudley Capital Management LLC purchased a new position in shares of Tilray Brands in the fourth quarter valued at approximately $29,000. Brooklyn FI LLC purchased a new position in shares of Tilray Brands in the fourth quarter valued at approximately $36,000. NewEdge Advisors LLC lifted its position in shares of Tilray Brands by 92.1% in the fourth quarter. NewEdge Advisors LLC now owns 27,406 shares of the company’s stock valued at $36,000 after acquiring an additional 13,136 shares in the last quarter. Finally, Bank of Nova Scotia purchased a new position in shares of Tilray Brands in the fourth quarter valued at approximately $41,000. Hedge funds and other institutional investors own 9.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TLRY shares. Wall Street Zen downgraded Tilray Brands to a “strong sell” rating in a research report on Saturday, July 5th. Roth Capital reiterated a “neutral” rating on shares of Tilray Brands in a research report on Monday, April 14th. Finally, Piper Sandler reduced their price objective on Tilray Brands from $2.00 to $1.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 9th. One investment 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. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $1.92.

Tilray Brands Stock Performance

Shares of Tilray Brands stock opened at $0.64 on Friday. Tilray Brands, Inc. has a one year low of $0.35 and a one year high of $2.15. The company has a market cap of $641.24 million, a price-to-earnings ratio of -0.61 and a beta of 1.82. 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 business’s 50 day moving average price is $0.44 and its 200 day moving average price is $0.71.

Tilray Brands (NASDAQ:TLRY) last announced its quarterly earnings results on Tuesday, April 8th. The company reported ($0.10) EPS 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 business had revenue of $185.78 million during the quarter, compared to analyst estimates of $213.38 million. On average, research analysts predict that Tilray Brands, Inc. will post -0.2 EPS for the current year.

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.