Tilray Brands (NASDAQ:TLRY) Trading Down 1.5% - Here's What Happened

Key Points

• Tilray Brands shares fell 1.5% to $3.93, with trading volume below its daily average. The stock remains below its 50-day and 200-day moving averages.
• Analyst sentiment is mixed, resulting in a consensus “Hold” rating and an average price target of $8.00; recent actions included a price-target cut from TD Cowen and rating changes from several firms.
• Tilray reported a quarterly EPS loss of $0.43, missing estimates by $0.42, although revenue of $281.71 million exceeded expectations. The company continues to post negative net margins and analysts expect a full-year EPS loss.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) fell 1.5% on Wednesday . The stock traded as low as $3.87 and last traded at $3.93. Approximately 3,732,652 shares were traded during trading, a decline of 12% from the average daily volume of 4,231,328 shares. The stock had previously closed at $3.99.

Wall Street Analysts Forecast Growth

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

Tilray Brands Stock Down 1.5%

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 firm has a market capitalization of $535.27 million, a PE ratio of -3.64 and a beta of 1.92. The firm has a 50-day moving average of $4.42 and a two-hundred day moving average of $5.42.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last posted its quarterly 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). The firm had revenue of $281.71 million for the quarter, compared to analysts' expectations of $246.30 million. Tilray Brands had a negative net margin of 13.11% and a negative return on equity of 7.76%. On average, equities research analysts forecast that Tilray Brands, Inc. will post -0.42 EPS for the current year.

Insider Buying and Selling at Tilray Brands

In other news, CFO Carl Merton bought 10,000 shares of the firm's stock in a transaction dated 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last quarter, insiders bought 15,000 shares of company stock valued at $69,225. Insiders own 0.84% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Engineers Gate Manager LP raised its position in Tilray Brands by 124.1% in the second 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 purchased a new stake in shares of Tilray Brands in the second quarter worth about $192,000. Amundi purchased a new stake in shares of Tilray Brands in the second quarter worth about $131,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Tilray Brands in the second quarter valued at about $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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