Tilray Brands (NASDAQ:TLRY) Shares Down 5.1% - What's Next?

Key Points

• Tilray shares fell 5.1% to $3.75 on heavy trading volume, with 7.4 million shares changing hands—77% above the average daily volume.
• Analyst sentiment is mixed but averages a “Hold” rating; the consensus price target is $7.00, despite several recent target cuts and one downgrade to “Sell.”
• Tilray’s latest quarter showed revenue of $281.7 million, above estimates, but an EPS loss of $0.43 significantly missed expectations. The company remains unprofitable, while its CFO and several institutional investors recently bought shares.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) was down 5.1% on Wednesday. The stock traded as low as $3.68 and last traded at $3.75. 7,415,399 shares changed hands during mid-day trading, an increase of 77% from the average daily volume of 4,198,470 shares. The stock had previously closed at $3.95.

Analyst Upgrades and Downgrades

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

Tilray Brands Price Performance

The business has a 50 day simple moving average of $4.36 and a two-hundred day simple moving average of $5.18. The firm has a market capitalization of $509.40 million, a P/E ratio of -3.46 and a beta of 1.92. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.37 and a current ratio of 2.21.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.42). The business had revenue of $281.71 million for 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%. On average, sell-side analysts expect that Tilray Brands, Inc. will post -0.42 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Carl Merton purchased 10,000 shares of the business's stock in a transaction on Tuesday, August 4th. The stock was acquired at an average price of $4.62 per share, with a total value of $46,200.00. Following the purchase, the chief financial officer directly owned 139,753 shares in the company, valued at approximately $645,658.86. This represents a 7.71% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders have purchased 15,000 shares of company stock valued at $69,225. 0.84% of the stock is owned by insiders.

Institutional Trading of Tilray Brands

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in Tilray Brands during the second quarter valued at about $2,073,000. Hsbc Holdings PLC bought a new stake in Tilray Brands during the second quarter worth about $182,000. Ieq Capital LLC purchased a new position in shares of Tilray Brands in the 2nd quarter worth about $146,000. State of Wyoming bought a new position in shares of Tilray Brands during the 2nd quarter valued at about $171,000. Finally, Essential Partners LLC increased its position in shares of Tilray Brands by 110,137.5% during 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 last quarter. 9.35% of the stock is owned by institutional investors.

Tilray Brands Company Profile

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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