Tilray Brands (NASDAQ:TLRY) Lowered to Sell Rating by Wall Street Zen

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

Several other equities analysts have also recently weighed in on the stock. Roth Mkm decreased their price target on shares of Tilray Brands from $20.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, January 20th. Zacks Research upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 11th. Canaccord Genuity Group initiated coverage on shares of Tilray Brands in a research report on Tuesday, January 27th. They issued a “hold” rating for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Tilray Brands in a research report on Wednesday, January 21st. Finally, ATB Cormark Capital Markets upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 10th. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $13.33.

Tilray Brands Stock Performance

Shares of Tilray Brands stock opened at $7.21 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.81 and a quick ratio of 1.72. The firm has a market cap of $840.04 million, a price-to-earnings ratio of -0.33 and a beta of 1.96. The stock’s 50-day moving average is $8.29 and its 200-day moving average is $10.95. Tilray Brands has a one year low of $3.51 and a one year high of $23.20.

Tilray Brands (NASDAQ:TLRY) last posted its quarterly earnings data on Thursday, January 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.12. The business had revenue of $217.51 million during the quarter, compared to the consensus estimate of $211.15 million. Tilray Brands had a negative return on equity of 6.35% and a negative net margin of 251.69%.During the same period last year, the company earned ($0.03) earnings per share. Equities analysts predict that Tilray Brands will post -0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Tidal Investments LLC boosted 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 acquiring an additional 3,776,410 shares during the period. Millennium Management LLC grew its position 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. bought a new position in shares of Tilray Brands during the third quarter worth approximately $5,813,000. Ausdal Financial Partners Inc. acquired a new stake in Tilray Brands during the 2nd quarter worth approximately $939,000. Finally, Scientech Research LLC acquired a new stake in Tilray Brands during the 3rd quarter worth approximately $1,748,000. 9.35% of the stock is owned by institutional investors.

About Tilray Brands

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.