Tilray Brands (NASDAQ:TLRY) Stock Falls 4.8% - What's Next?

Key Points

• Tilray shares fell 4.8% to $3.57 on above-average trading volume, extending weakness below the stock’s 50-day and 200-day moving averages.
• Analyst sentiment is mixed, with an overall “Hold” rating and a $7.00 consensus price target; recent research actions ranged from “Strong Buy” to “Strong Sell.”
• Tilray’s latest quarterly results missed sharply on earnings, reporting a $0.43 per-share loss versus a $0.01 expected loss, despite revenue of $281.7 million exceeding estimates.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) shares traded down 4.8% during trading on Thursday. The company traded as low as $3.54 and last traded at $3.57. Approximately 6,982,922 shares were traded during trading, an increase of 66% from the average session volume of 4,211,969 shares. The stock had previously closed at $3.75.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TLRY shares. TD Cowen decreased their target price on shares of Tilray Brands from $7.00 to $5.00 and set a "buy" rating for the company in a research note on Tuesday, July 14th. Weiss Ratings downgraded shares of Tilray Brands from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday, September 21st. Wall Street Zen cut Tilray Brands from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. Zacks Research downgraded Tilray Brands from a "hold" rating to a "strong sell" rating in a research note on Tuesday. Finally, TD Securities raised Tilray Brands to a "strong-buy" rating in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $7.00.

Tilray Brands Trading Down 4.8%

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 has a market capitalization of $486.23 million, a price-to-earnings ratio of -3.31 and a beta of 1.92. The business has a fifty day moving average price of $4.35 and a 200 day moving average price of $5.16.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported ($0.43) earnings per share (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 analyst estimates of $246.30 million. Tilray Brands had a negative return on equity of 7.76% and a negative net margin of 13.11%. On average, equities analysts expect that Tilray Brands, Inc. will post -0.42 EPS for the current fiscal year.

Insider Activity at Tilray Brands

In related news, CFO Carl Merton bought 10,000 shares of Tilray Brands stock in a transaction that occurred on Tuesday, August 4th. The stock was acquired at an average price of $4.62 per share, for a total transaction of $46,200.00. Following the completion of the purchase, the chief financial officer 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 acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have bought a total of 15,000 shares of company stock worth $69,225 over the last three months. 0.84% of the stock is currently owned by corporate insiders.

Institutional Trading of Tilray Brands

A number of hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Tilray Brands during the second quarter valued at approximately $2,073,000. Swiss National Bank raised its stake in shares of 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Tilray Brands by 6.1% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 208,229 shares of the company's stock worth $935,000 after purchasing an additional 11,894 shares during the period. Dimensional Fund Advisors LP lifted its position in Tilray Brands by 82.9% in the first quarter. Dimensional Fund Advisors LP now owns 87,803 shares of the company's stock worth $568,000 after purchasing an additional 39,801 shares during the period. Finally, Legal & General Group Plc acquired a new stake in Tilray Brands during the second quarter worth $381,000. Institutional investors own 9.35% of the company's stock.

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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