Tilray Brands (NASDAQ:TLRY) Stock Price Down 4.9% - Here's Why

Key Points

• Tilray Brands shares fell 4.9% to $4.64, with about 4.1 million shares traded. The stock remains below its 200-day moving average of $5.76.
• The decline followed a sharp quarterly EPS miss: Tilray reported a loss of $0.43 per share versus the $0.01 loss analysts expected, despite revenue of $281.7 million exceeding estimates.
• Analyst sentiment is mixed, with MarketBeat showing an average “Hold” rating and an $8.00 price target. Meanwhile, Tilray’s CFO purchased 10,000 shares at an average price of $4.62, adding to recent insider buying.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) shares traded down 4.9% on Wednesday . The company traded as low as $4.60 and last traded at $4.64. Approximately 4,098,246 shares changed hands during trading, a decline of 4% from the average daily volume of 4,288,847 shares. The stock had previously closed at $4.88.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. 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. Wall Street Zen downgraded Tilray Brands from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. Weiss Ratings raised Tilray Brands from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday. Finally, TD Securities raised shares of Tilray Brands to a "strong-buy" rating in a research note on Friday, July 31st. 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 stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $8.00.

Tilray Brands Trading Down 4.9%

The company's 50 day moving average price is $4.48 and its 200 day moving average price is $5.76. The company has a market cap of $631.97 million, a price-to-earnings ratio of -4.30 and a beta of 1.90. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.37 and a current ratio of 2.21.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last posted its earnings results on Tuesday, July 28th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 analyst estimates of $246.30 million. Research analysts anticipate that Tilray Brands, Inc. will post -0.42 EPS for the current year.

Insider Buying and Selling

In other Tilray Brands news, CFO Carl A. Merton bought 10,000 shares of Tilray Brands stock in a transaction dated Tuesday, August 4th. The shares were acquired at an average cost of $4.62 per share, with a total value of $46,200.00. Following the acquisition, the chief financial officer directly owned 139,753 shares of the company's stock, valued at $645,658.86. The trade was a 7.71% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have bought 15,000 shares of company stock valued at $69,225 in the last quarter. 0.84% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Hilton Head Capital Partners LLC bought a new stake in shares of Tilray Brands during the 4th quarter valued at $38,000. Cerity Partners LLC grew its stake in shares of Tilray Brands by 98.5% during the second quarter. Cerity Partners LLC now owns 92,560 shares of the company's stock worth $38,000 after purchasing an additional 45,929 shares during the period. Marex Group plc acquired a new stake in shares of Tilray Brands during the second quarter worth $40,000. Hilton Capital Management LLC bought a new stake in Tilray Brands in the second quarter valued at about $41,000. Finally, Deutsche Bank AG bought a new position in Tilray Brands during the second quarter worth about $44,000. 9.35% of the stock is currently owned by institutional investors.

About Tilray Brands

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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