Tilray Brands (NASDAQ:TLRY) Shares Down 2.7% - Should You Sell?

Key Points

• Tilray shares fell 2.7% to $4.02, trading below both their 50-day moving average of $4.37 and 200-day moving average of $5.23.
• Analyst opinions are mixed, but the stock has a consensus “Hold” rating and an average price target of $7.00; recent analysts have reduced targets while one upgraded the shares to “strong buy.”
• Tilray’s latest quarter showed revenue above expectations at $281.7 million, but it posted a significantly wider-than-expected loss of $0.43 per share and remains unprofitable, with a negative net margin of 13.11%.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s stock price fell 2.7% on Monday. The company traded as low as $3.98 and last traded at $4.02. Approximately 3,768,564 shares traded hands during mid-day trading, a decline of 10% from the average daily volume of 4,183,427 shares. The stock had previously closed at $4.13.

Analyst Ratings Changes

A number of brokerages recently issued reports on TLRY. TD Securities upgraded shares of Tilray Brands to a "strong-buy" rating in a report on Friday, July 31st. Wall Street Zen cut shares of Tilray Brands from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. TD Cowen decreased their price target on shares of Tilray Brands from $7.00 to $5.00 and set a "buy" rating for the company in a report on Tuesday, July 14th. Weiss Ratings lowered Tilray Brands from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Monday, September 21st. Finally, ATB Cormark Capital Markets cut their price objective on Tilray Brands from $8.00 to $6.00 and set a "hold" rating on the stock in a report on Monday, September 21st. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Tilray Brands currently has a consensus rating of "Hold" and an average price target of $7.00.

Tilray Brands Price Performance

The company has a debt-to-equity ratio of 0.22, a current ratio of 2.21 and a quick ratio of 1.37. The company's 50-day moving average price is $4.37 and its 200-day moving average price is $5.23. The company has a market cap of $547.52 million, a P/E ratio of -3.72 and a beta of 1.92.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.42). The company had revenue of $281.71 million during the quarter, compared to the consensus estimate of $246.30 million. Tilray Brands had a negative net margin of 13.11% and a negative return on equity of 7.76%. As a group, sell-side analysts predict that Tilray Brands, Inc. will post -0.42 earnings per share for the current fiscal year.

Insider Activity at Tilray Brands

In related news, CFO Carl Merton acquired 10,000 shares of the business's stock in a transaction dated Tuesday, August 4th. The stock was bought at an average price of $4.62 per share, with a total value of $46,200.00. Following the acquisition, the chief financial officer owned 139,753 shares in the company, valued at $645,658.86. This represents a 7.71% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders purchased 15,000 shares of company stock valued at $69,225. Corporate insiders own 0.84% of the company's stock.

Hedge Funds Weigh In On Tilray Brands

A number of institutional investors have recently added to or reduced their stakes in the company. Hilton Head Capital Partners LLC acquired a new stake in Tilray Brands in the fourth quarter valued at $38,000. Integrated Wealth Concepts LLC bought a new stake in shares of Tilray Brands in the 2nd quarter valued at about $27,000. Essential Partners LLC raised its holdings in shares of Tilray Brands by 110,137.5% in the 1st quarter. Essential Partners LLC now owns 8,819 shares of the company's stock valued at $57,000 after purchasing an additional 8,811 shares during the period. Deutsche Bank AG acquired a new stake in Tilray Brands in the 2nd quarter valued at about $44,000. Finally, Corient Private Wealth LP bought a new position in Tilray Brands during the second quarter worth about $53,000. 9.35% of the stock is currently owned by institutional investors and hedge funds.

About Tilray Brands

Tilray Brands, Inc is a global consumer packaged goods company headquartered in New York. Its operations span cannabis, beverage alcohol, wellness products and related consumer brands. The company develops, produces, markets and distributes cannabis products, including dried flower, pre-rolls, vapes, concentrates, edibles and medical cannabis, where permitted by local regulations.

Tilray also operates a beverage alcohol platform that includes beer, spirits and other alcoholic beverages.

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