Tilray Brands (NASDAQ:TLRY) Stock Price Down 1.7% - What's Next?

Key Points

• Tilray Brands shares fell 1.7% to $3.95 in mid-day trading, with volume down 27% from the average. The stock remains below its 50-day and 200-day moving averages of $4.36 and $5.21, respectively.
• Analyst sentiment is mixed but averages to a “Hold” rating, with a consensus price target of $7.00. Recent target cuts included ATB Cormark to $6.00 and TD Cowen to $5.00, while TD Securities upgraded the stock to “strong buy.”
• Tilray reported a quarterly loss of $0.43 per share, substantially missing the $0.01 consensus estimate, although revenue of $281.71 million exceeded forecasts. Separately, insiders purchased 15,000 shares over the past 90 days, including a 10,000-share purchase by the CFO.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s share price dropped 1.7% during mid-day trading on Tuesday. The company traded as low as $3.94 and last traded at $3.95. 3,037,652 shares changed hands during trading, a decline of 27% from the average daily volume of 4,178,455 shares. The stock had previously closed at $4.02.

Analysts Set New Price Targets

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

Tilray Brands Trading Down 1.7%

The company has a market capitalization of $537.99 million, a P/E ratio of -3.66 and a beta of 1.92. 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 business's 50-day moving average price is $4.36 and its two-hundred day moving average price is $5.21.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last issued 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 business had revenue of $281.71 million for 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%. As a group, analysts forecast that Tilray Brands, Inc. will post -0.42 EPS for the current fiscal year.

Insider Buying and Selling at Tilray Brands

In related news, CFO Carl Merton acquired 10,000 shares of the 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 completion of the transaction, the chief financial officer directly owned 139,753 shares of the company's stock, valued at approximately $645,658.86. The trade was a 7.71% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have purchased a total of 15,000 shares of company stock valued at $69,225 in the last ninety days. 0.84% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tilray Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Engineers Gate Manager LP raised its stake in shares of Tilray Brands by 124.1% in the 2nd quarter. Engineers Gate Manager LP now owns 60,839 shares of the company's stock valued at $273,000 after purchasing an additional 33,688 shares during the period. Integrated Wealth Concepts LLC acquired a new position in shares of Tilray Brands during the second quarter worth about $27,000. Squarepoint Ops LLC bought a new position in shares of Tilray Brands during the second quarter worth about $192,000. Amundi bought a new position in shares of Tilray Brands during the second quarter worth about $131,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Tilray Brands in the 2nd quarter valued at approximately $75,000. 9.35% of the stock is 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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