Wall Street Zen Downgrades Tilray Brands (NASDAQ:TLRY) to Sell

Tilray Brands (NASDAQ:TLRY) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

Several other research analysts have also recently issued reports on the company. Roth Mkm dropped their price objective on Tilray Brands from $20.00 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 20th. Zacks Research upgraded Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday. Canaccord Genuity Group assumed coverage on Tilray Brands in a research report on Tuesday, January 27th. They issued a “hold” rating on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Tilray Brands in a research report on Wednesday, January 21st. Finally, ATB Cormark Capital Markets raised shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 10th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $13.33.

Tilray Brands Stock Performance

NASDAQ:TLRY opened at $7.51 on Friday. The company has a market cap of $874.99 million, a price-to-earnings ratio of -0.34 and a beta of 2.02. Tilray Brands has a 1 year low of $3.51 and a 1 year high of $23.20. The stock’s 50 day simple moving average is $9.13 and its two-hundred day simple moving average is $10.99. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.81 and a quick ratio of 1.72.

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

Institutional Investors Weigh In On Tilray Brands

Large investors have recently bought and sold shares of the company. Tidal Investments LLC grew its holdings in shares of Tilray Brands by 15.0% during the second quarter. Tidal Investments LLC now owns 28,971,835 shares of the company’s stock worth $12,006,000 after buying an additional 3,776,410 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Tilray Brands by 281.0% in the third quarter. Millennium Management LLC now owns 4,942,319 shares of the company’s stock valued at $8,550,000 after purchasing an additional 3,645,060 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Tilray Brands during the third quarter worth approximately $5,813,000. Ausdal Financial Partners Inc. acquired a new position in Tilray Brands during the second quarter worth $939,000. Finally, Scientech Research LLC purchased a new stake in Tilray Brands in the 3rd quarter valued at $1,748,000. 9.35% of the stock is currently owned by hedge funds and other institutional investors.

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.