Tilray Brands (NASDAQ:TLRY) Stock Falls 1.9% - Here's Why

Key Points

• Tilray Brands shares fell 1.9% to $2.64, with trading volume slightly below the average session level.
• Analyst sentiment is mixed but leans neutral: the stock has an average “Hold” rating and a consensus price target of $5.90, despite recent target-price cuts and one upgrade to “strong buy.”
• Tilray exceeded quarterly EPS expectations, reporting a loss of $0.02 per share versus the expected $0.18 loss, but revenue of $257.15 million fell short of estimates and the company remained unprofitable.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) was down 1.9% on Thursday. The stock traded as low as $2.62 and last traded at $2.64. Approximately 4,148,703 shares were traded during trading, a decline of 2% from the average session volume of 4,223,505 shares. The stock had previously closed at $2.69.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. TD Securities upgraded Tilray Brands to a "strong-buy" rating in a research report on Friday, July 31st. ATB Cormark Capital Markets cut their target price on Tilray Brands from $8.00 to $6.00 and set a "hold" rating on the stock in a research note on Monday, September 21st. Wall Street Zen lowered shares of Tilray Brands from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. Canaccord Genuity Group reduced their price objective on shares of Tilray Brands from $4.50 to $4.00 and set a "hold" rating for the company in a research report on Friday, October 9th. Finally, Weiss Ratings lowered Tilray Brands from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday, October 23rd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $5.90.

Tilray Brands Trading Down 2.2%

The company has a quick ratio of 1.11, a current ratio of 1.88 and a debt-to-equity ratio of 0.17. The company has a 50-day moving average price of $3.88 and a 200-day moving average price of $5.57. The company has a market capitalization of $388.69 million, a price-to-earnings ratio of -1.88 and a beta of 1.91.

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

Insider Buying and Selling at Tilray Brands

In other news, CFO Carl Merton bought 10,000 shares of the company's stock in a transaction dated Tuesday, August 4th. The stock was bought at an average price of $4.62 per share, for a total transaction of $46,200.00. Following the completion of the transaction, the chief financial officer directly owned 139,753 shares in the company, valued at $645,658.86. The trade was a 7.71% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have purchased a total of 15,000 shares of company stock valued at $69,225 over the last three months. Company insiders own 1.60% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pictet Asset Management Holding SA grew its holdings in Tilray Brands by 38.9% during the first quarter. Pictet Asset Management Holding SA now owns 18,387 shares of the company's stock worth $119,000 after purchasing an additional 5,145 shares during the period. Integrated Wealth Concepts LLC bought a new position in Tilray Brands during the second quarter worth about $27,000. Baader Bank Aktiengesellschaft increased its holdings in shares of Tilray Brands by 17.7% during the first quarter. Baader Bank Aktiengesellschaft now owns 47,938 shares of the company's stock worth $293,000 after purchasing an additional 7,226 shares during the period. Essential Partners LLC increased its stake in Tilray Brands by 110,137.5% during the 1st quarter. Essential Partners LLC now owns 8,819 shares of the company's stock worth $57,000 after acquiring an additional 8,811 shares during the period. Finally, Swiss National Bank raised its stake in Tilray Brands by 4.1% in the first quarter. Swiss National Bank now owns 230,503 shares of the company's stock valued at $1,491,000 after purchasing an additional 9,100 shares in the last quarter. 9.35% of the stock is owned by institutional investors and hedge funds.

Tilray Brands Company Profile

Tilray Brands, Inc is a global consumer packaged goods company operating across the cannabis, beverage alcohol, wellness and distribution sectors. Its cannabis business includes adult-use and medical cannabis products such as dried flower, pre-rolls, vapes, concentrates, edibles and beverages, marketed under brands including Good Supply, RIFF and Broken Coast.

The company also owns and operates beverage alcohol businesses, including SweetWater Brewing Company, Montauk Brewing Company, Alpine Beer Company, Green Flash Brewing Co and Blue Point Brewing Company.

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