Tilray Brands (NASDAQ:TLRY) Stock Price Down 2.9% - What's Next?

Key Points

• Tilray Brands shares fell 2.9% to $4.02, below both the 50-day moving average of $4.44 and the 200-day average of $5.50.
• Analyst sentiment is mixed, with an overall “Hold” rating and an average price target of $8.00; recent actions included a TD Cowen target cut to $5.00 and upgrades from TD Securities and Weiss Ratings.
• The company reported a quarterly loss of $0.43 per share, missing estimates by $0.42, despite revenue of $281.71 million exceeding expectations; insiders have recently purchased shares, including 10,000 shares bought by the CFO.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) was down 2.9% during trading on Friday . The company traded as low as $4.00 and last traded at $4.02. 3,962,935 shares changed hands during trading, a decline of 6% from the average daily volume of 4,236,214 shares. The stock had previously closed at $4.14.

Analyst Ratings Changes

TLRY has been the subject of several research analyst reports. Weiss Ratings upgraded Tilray Brands from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday, August 24th. TD Securities upgraded shares of Tilray Brands to a "strong-buy" rating in a report on Friday, July 31st. TD Cowen cut their price target on shares of Tilray Brands from $7.00 to $5.00 and set a "buy" rating on the stock in a research note on Tuesday, July 14th. Finally, Wall Street Zen downgraded shares of Tilray Brands from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. One investment 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 assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $8.00.

Tilray Brands Stock Performance

The stock has a fifty day moving average of $4.44 and a 200-day moving average of $5.50. The firm has a market capitalization of $546.18 million, a P/E ratio of -3.71 and a beta of 1.92. The company has a quick ratio of 1.37, a current ratio of 2.21 and a debt-to-equity ratio of 0.22.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last released 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 firm had revenue of $281.71 million during the quarter, compared to the consensus estimate of $246.30 million. On average, research analysts anticipate that Tilray Brands, Inc. will post -0.42 EPS for the current year.

Insider Activity at Tilray Brands

In other Tilray Brands 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 acquisition, the chief financial officer owned 139,753 shares of the company's stock, valued at $645,658.86. This trade represents a 7.71% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have acquired a total of 15,000 shares of company stock valued at $69,225 over the last 90 days. Insiders own 0.84% of the company's stock.

Institutional Investors Weigh In On Tilray Brands

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hilton Head Capital Partners LLC acquired a new position in shares of Tilray Brands during the 4th quarter worth about $38,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Tilray Brands in the second quarter valued at about $27,000. Essential Partners LLC increased its position in shares of Tilray Brands by 110,137.5% in the first quarter. Essential Partners LLC now owns 8,819 shares of the company's stock valued at $57,000 after acquiring an additional 8,811 shares during the last quarter. Deutsche Bank AG bought a new stake in Tilray Brands during the second quarter worth about $44,000. Finally, Corient Private Wealth LP bought a new stake in Tilray Brands during the second quarter worth about $53,000. 9.35% of the stock is currently owned by institutional investors and hedge funds.

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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