Tilray Brands (NASDAQ:TLRY) Stock Price Down 1.7% - Here's Why

Key Points

• Tilray shares fell 1.7% to $4.14 in mid-day trading, with volume down 32% from the average session level.
• Analyst sentiment remains mixed: MarketBeat reports a consensus rating of “Hold” and an $8.00 price target, while TD Cowen recently lowered its target from $7 to $5.
• Tilray’s latest quarterly results showed a significant EPS miss of $0.43 versus the expected $0.01 loss, despite revenue of $281.7 million exceeding estimates.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s share price dropped 1.7% on Thursday . The stock traded as low as $4.10 and last traded at $4.14. Approximately 2,902,938 shares changed hands during mid-day trading, a decline of 32% from the average session volume of 4,239,766 shares. The stock had previously closed at $4.21.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Wall Street Zen lowered Tilray Brands from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. TD Securities raised Tilray Brands to a "strong-buy" rating in a research note on Friday, July 31st. Weiss Ratings upgraded Tilray Brands from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday, August 24th. Finally, TD Cowen cut their price objective on Tilray Brands from $7.00 to $5.00 and set a "buy" rating on the stock in a research note on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $8.00.

Tilray Brands Stock Performance

The company has a 50-day moving average price of $4.45 and a two-hundred day moving average price of $5.52. The company has a current ratio of 2.21, a quick ratio of 1.37 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $563.87 million, a P/E ratio of -3.83 and a beta of 1.92.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last announced its earnings results on Tuesday, July 28th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.42). Tilray Brands had a negative net margin of 13.11% and a negative return on equity of 7.76%. The business had revenue of $281.71 million for the quarter, compared to the consensus estimate of $246.30 million. On average, equities analysts forecast that Tilray Brands, Inc. will post -0.42 earnings per share for the current year.

Insider Activity

In related news, CFO Carl Merton acquired 10,000 shares of Tilray Brands 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 transaction, the chief financial officer directly 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 filing with the SEC, which is available at the SEC website. In the last quarter, insiders purchased 15,000 shares of company stock worth $69,225. 0.84% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of TLRY. Tidal Investments LLC raised its stake in Tilray Brands by 15.0% during the 2nd quarter. Tidal Investments LLC now owns 28,971,835 shares of the company's stock worth $12,006,000 after buying an additional 3,776,410 shares during the period. Millennium Management LLC grew its stake in Tilray Brands by 281.0% in the third quarter. Millennium Management LLC now owns 4,942,319 shares of the company's stock valued at $8,550,000 after acquiring an additional 3,645,060 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Tilray Brands during the third quarter valued at approximately $5,813,000. Ausdal Financial Partners Inc. bought a new stake in shares of Tilray Brands during the second quarter valued at approximately $939,000. Finally, Scientech Research LLC acquired a new position in shares of Tilray Brands during the third quarter worth approximately $1,748,000. Institutional investors and hedge funds own 9.35% of the company's stock.

Tilray Brands Company Profile

Tilray Brands, Inc is a global cannabis-lifestyle and consumer packaged goods company engaged in the cultivation, production, distribution and sale of cannabis and cannabinoid-based products. The company develops and markets a diverse portfolio of branded products spanning medical cannabis, adult-use recreational products and wellness offerings. Through state-of-the-art cultivation facilities, research and development efforts, and quality control systems, Tilray Brands aims to deliver consistent, scalable products for a range of patient and consumer needs.

Tilray's product lineup includes cannabis flower, pre-rolls, oils and tinctures, vapes, edibles and topicals, as well as hemp-derived cannabidiol (CBD) products.

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