Tilray Brands (NASDAQ:TLRY) Shares Down 1.5% - What's Next?

Key Points

• Tilray shares fell 1.5% to $2.61, with trading volume 14% above the average; the stock touched a low of $2.50.
• Analyst opinions are mixed, but the overall rating is Hold with a consensus price target of $5.90. Recent rating changes included price-target cuts and both upgrades and downgrades.
• Tilray reported a quarterly loss of $0.02 per share, beating the $0.18 loss analysts expected, while revenue of $257.15 million came in below estimates of $266.26 million.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) shares were down 1.5% on Wednesday. The stock traded as low as $2.50 and last traded at $2.61. 4,895,355 shares changed hands during trading, an increase of 14% from the average daily volume of 4,284,587 shares. The stock had previously closed at $2.65.

Analyst Ratings Changes

A number of brokerages recently weighed in on TLRY. ATB Cormark Capital Markets lowered their target price on shares of Tilray Brands from $8.00 to $6.00 and set a "hold" rating for the company in a research note on Monday, September 21st. Zacks Research cut shares of Tilray Brands from a "hold" rating to a "strong sell" rating in a research report on Tuesday, September 29th. TD Securities upgraded Tilray Brands to a "strong-buy" rating in a report on Friday, July 31st. Weiss Ratings lowered Tilray Brands from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday, October 23rd. Finally, TD dropped their price objective on Tilray Brands from $4.70 to $4.50 and set a "buy" rating on the stock in a research note on Monday, October 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Tilray Brands currently has an average rating of "Hold" and a consensus price target of $5.90.

Tilray Brands Stock Down 1.5%

The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.11 and a current ratio of 1.88. The firm's 50 day moving average price is $3.52 and its two-hundred day moving average price is $5.28. The company has a market cap of $385.73 million, a P/E ratio of -1.86 and a beta of 2.04.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last issued its earnings results on Thursday, October 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.16. Tilray Brands had a negative net margin of 16.91% and a negative return on equity of 10.39%. The business had revenue of $257.15 million for the quarter, compared to analyst estimates of $266.26 million. Equities research analysts anticipate that Tilray Brands, Inc. will post -0.52 EPS for the current fiscal year.

Institutional Trading of Tilray Brands

Several large investors have recently made changes to their positions in TLRY. Ieq Capital LLC raised its stake in Tilray Brands by 88.2% during the 3rd quarter. Ieq Capital LLC now owns 60,999 shares of the company's stock worth $229,000 after buying an additional 28,590 shares during the period. R Squared Ltd grew its stake in Tilray Brands by 35.5% in the third quarter. R Squared Ltd now owns 37,754 shares of the company's stock valued at $142,000 after acquiring an additional 9,893 shares during the period. State of Wyoming increased its holdings in shares of Tilray Brands by 114.2% during the third quarter. State of Wyoming now owns 81,502 shares of the company's stock valued at $306,000 after acquiring an additional 43,448 shares in the last quarter. SLT Holdings LLC bought a new stake in shares of Tilray Brands during the third quarter valued at approximately $247,000. Finally, Engineers Gate Manager LP increased its holdings in shares of Tilray Brands by 124.1% during the second quarter. Engineers Gate Manager LP now owns 60,839 shares of the company's stock valued at $273,000 after acquiring an additional 33,688 shares in the last quarter. 9.35% of the stock is currently owned by institutional investors and hedge funds.

Tilray Brands Company Profile

Tilray Brands is a global cannabis and consumer packaged goods company. Its cannabis business produces and sells medical and adult-use products, including dried flower, oils, extracts and edibles, under brands such as Good Supply, Solei, Redecan and Broken Coast. The company serves customers in Canada, the United States and international markets. Its activities include medical cannabis distribution in countries where permitted, as well as cannabis and hemp-related products in North America, subject to local regulations.

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