Tilray Brands (NASDAQ:TLRY) Trading Down 4.4% - Here's Why

Key Points

• Tilray Brands shares fell 4.4% to $4.30 during Tuesday trading, with volume slightly above average. The stock remains below its 50-day and 200-day moving averages.
• Analyst sentiment is mixed but averages a “Hold” rating, with an $8.00 consensus price target. Recent actions included a TD Cowen price-target cut to $5 and ratings ranging from Sell to Strong Buy.
• Tilray’s latest quarterly results missed earnings expectations by a wide margin, reporting a $0.43-per-share loss versus a $0.01 expected loss, despite revenue exceeding estimates. Insiders have continued buying shares, including a 10,000-share purchase by the CFO.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s share price fell 4.4% during trading on Tuesday . The company traded as low as $4.28 and last traded at $4.30. Approximately 4,434,170 shares were traded during mid-day trading, an increase of 5% from the average session volume of 4,240,932 shares. The stock had previously closed at $4.50.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Weiss Ratings raised shares of Tilray Brands from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, August 24th. Wall Street Zen cut shares of Tilray Brands from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. TD Securities raised shares of Tilray Brands to a "strong-buy" rating in a research report on Friday, July 31st. Finally, TD Cowen decreased their price target on Tilray Brands from $7.00 to $5.00 and set a "buy" rating for the company in a research note on Tuesday, July 14th. 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 given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $8.00.

Tilray Brands Stock Down 4.4%

The company has a quick ratio of 1.37, a current ratio of 2.21 and a debt-to-equity ratio of 0.22. The firm has a market cap of $585.68 million, a P/E ratio of -3.98 and a beta of 1.92. The firm's 50-day moving average price is $4.46 and its 200 day moving average price is $5.57.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The company reported ($0.43) earnings per share 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 business had revenue of $281.71 million for the quarter, compared to the consensus estimate of $246.30 million. As a group, research analysts expect that Tilray Brands, Inc. will post -0.42 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Carl Merton purchased 10,000 shares of the company's stock in a transaction on Tuesday, August 4th. The shares were bought at an average cost of $4.62 per share, for a total transaction of $46,200.00. Following the transaction, the chief financial officer owned 139,753 shares of the company's stock, valued at $645,658.86. This represents a 7.71% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Over the last 90 days, insiders have bought 15,000 shares of company stock worth $69,225. 0.84% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tilray Brands

Several hedge funds have recently modified their holdings of TLRY. Hilton Head Capital Partners LLC acquired a new position in shares of Tilray Brands in the 4th quarter worth approximately $38,000. Cerity Partners LLC boosted its position in shares of Tilray Brands by 98.5% in the second quarter. Cerity Partners LLC now owns 92,560 shares of the company's stock worth $38,000 after buying an additional 45,929 shares during the period. Marex Group plc acquired a new stake in shares of Tilray Brands in the second quarter worth $40,000. Hilton Capital Management LLC purchased a new position in shares of Tilray Brands during the second quarter valued at $41,000. Finally, Deutsche Bank AG purchased a new position in Tilray Brands during the 2nd quarter valued at about $44,000. 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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