Tilray Brands (NASDAQ:TLRY) Stock Price Down 7.4% Following Analyst Downgrade

Tilray Brands, Inc. (NASDAQ:TLRY)’s stock price fell 7.4% on Tuesday after Roth Capital lowered their price target on the stock from $20.00 to $10.00. Roth Capital currently has a neutral rating on the stock. Tilray Brands traded as low as $8.67 and last traded at $8.75. 6,044,834 shares changed hands during trading, a decline of 13% from the average session volume of 6,970,036 shares. The stock had previously closed at $9.45.

Several other research firms have also recently weighed in on TLRY. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tilray Brands in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Saturday, October 11th. Zacks Research downgraded Tilray Brands from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 13th. Finally, Atb Cap Markets raised Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 10th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Tilray Brands currently has a consensus rating of “Reduce” and a consensus target price of $13.33.

Institutional Trading of Tilray Brands

Large investors have recently made changes to their positions in the company. Integrated Wealth Concepts LLC raised its stake in Tilray Brands by 33.8% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 36,977 shares of the company’s stock worth $64,000 after buying an additional 9,341 shares during the period. CreativeOne Wealth LLC increased its holdings in shares of Tilray Brands by 12.2% during the third quarter. CreativeOne Wealth LLC now owns 87,134 shares of the company’s stock valued at $151,000 after acquiring an additional 9,452 shares in the last quarter. Dudley Capital Management LLC increased its holdings in shares of Tilray Brands by 73.3% during the third quarter. Dudley Capital Management LLC now owns 26,000 shares of the company’s stock valued at $45,000 after acquiring an additional 11,000 shares in the last quarter. Arizona State Retirement System raised its position in shares of Tilray Brands by 4.3% during the third quarter. Arizona State Retirement System now owns 307,193 shares of the company’s stock worth $531,000 after purchasing an additional 12,675 shares during the period. Finally, Brighton Jones LLC raised its position in shares of Tilray Brands by 28.3% during the third quarter. Brighton Jones LLC now owns 59,510 shares of the company’s stock worth $103,000 after purchasing an additional 13,137 shares during the period. 9.35% of the stock is currently owned by institutional investors and hedge funds.

Tilray Brands Trading Down 7.4%

The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -0.40 and a beta of 1.77. The firm’s 50-day moving average is $9.65 and its 200-day moving average is $10.87. The company has a current ratio of 2.81, a quick ratio of 1.72 and a debt-to-equity ratio of 0.19.

Tilray Brands (NASDAQ:TLRY) last released its quarterly earnings data on Thursday, January 8th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.27). Tilray Brands had a negative return on equity of 6.35% and a negative net margin of 251.69%.The business had revenue of $217.51 million for the quarter, compared to analyst estimates of $211.15 million. During the same quarter in the previous year, the company posted ($0.03) EPS. As a group, sell-side analysts anticipate that Tilray Brands, Inc. will post -0.2 EPS for the current fiscal year.

Tilray Brands Company Profile

Tilray Brands, Inc is a global cannabis-lifestyle and consumer packaged goods company engaged in the cultivation, production, distribution and sale of cannabis and cannabinoid-based products. The company develops and markets a diverse portfolio of branded products spanning medical cannabis, adult-use recreational products and wellness offerings. Through state-of-the-art cultivation facilities, research and development efforts, and quality control systems, Tilray Brands aims to deliver consistent, scalable products for a range of patient and consumer needs.

Tilray’s product lineup includes cannabis flower, pre-rolls, oils and tinctures, vapes, edibles and topicals, as well as hemp-derived cannabidiol (CBD) products.