Tilray Brands (NASDAQ:TLRY) Shares Down 7.4% on Analyst Downgrade

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

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

Institutional Investors Weigh In On Tilray Brands

Large investors have recently modified their holdings of the company. Tidal Investments LLC grew its stake in 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 purchasing an additional 3,776,410 shares during the period. Millennium Management LLC lifted its stake in 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 buying an additional 3,645,060 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Tilray Brands during the 3rd quarter worth approximately $5,813,000. Ausdal Financial Partners Inc. acquired a new stake in shares of Tilray Brands during the 2nd quarter worth approximately $939,000. Finally, Scientech Research LLC bought a new stake in shares of Tilray Brands in the 3rd quarter valued at $1,748,000. 9.35% of the stock is currently owned by institutional investors and hedge funds.

Tilray Brands Stock Down 0.9%

The company has a market cap of $1.01 billion, a P/E ratio of -0.39 and a beta of 1.77. The firm’s 50 day moving average price is $9.57 and its two-hundred day moving average price is $10.85. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.72 and a current ratio of 2.81.

Tilray Brands (NASDAQ:TLRY) last issued its earnings results on Thursday, January 8th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $217.51 million during the quarter, compared to analyst estimates of $211.15 million. During the same quarter in the prior year, the business earned ($0.03) earnings per share. Equities research 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.