Tilray Brands (NASDAQ:TLRY) Stock Price Down 1% - What's Next?

Key Points

• Tilray Brands' shares experienced a 1% decrease in price on Thursday, trading at $0.61 with an unusually low trading volume, down 79% compared to its average.
• Numerous analyst ratings have been issued, with most giving a consensus rating of "Hold" and a target price of $1.92, while Wall Street Zen downgraded the stock to a "strong sell."
• CEO Irwin D. Simon purchased 165,000 shares at an average price of $0.61, indicating increased confidence in the company's future despite recent challenges.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s share price fell 1% on Thursday . The company traded as low as $0.60 and last traded at $0.61. 7,668,632 shares were traded during trading, a decline of 79% from the average session volume of 35,754,285 shares. The stock had previously closed at $0.61.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TLRY. Wall Street Zen lowered Tilray Brands to a "strong sell" rating in a report on Saturday, July 5th. Piper Sandler reduced their price target on Tilray Brands from $2.00 to $1.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 9th. Roth Capital reissued a "neutral" rating on shares of Tilray Brands in a research report on Monday, April 14th. Finally, Zelman & Associates reissued a "neutral" rating on shares of Tilray Brands in a research report on Tuesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $1.92.

Tilray Brands Stock Performance

The firm's 50 day moving average price is $0.50 and its 200-day moving average price is $0.64. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.61 and a current ratio of 2.46. The firm has a market capitalization of $578.74 million, a PE ratio of -0.25 and a beta of 1.82.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last posted its earnings results on Monday, July 28th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.05. The business had revenue of $224.54 million for the quarter, compared to analyst estimates of $250.41 million. Tilray Brands had a negative net margin of 265.69% and a negative return on equity of 6.83%. On average, research analysts expect that Tilray Brands, Inc. will post -0.2 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Irwin D. Simon purchased 165,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 30th. The shares were purchased at an average cost of $0.61 per share, with a total value of $100,650.00. Following the purchase, the chief executive officer owned 3,941,633 shares of the company's stock, valued at $2,404,396.13. This represents a 4.37% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Tradewinds Capital Management LLC lifted its stake in Tilray Brands by 177.0% in the 2nd quarter. Tradewinds Capital Management LLC now owns 203,461 shares of the company's stock valued at $84,000 after buying an additional 130,001 shares in the last quarter. Stratos Wealth Partners LTD. lifted its stake in Tilray Brands by 704.5% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 81,272 shares of the company's stock worth $34,000 after purchasing an additional 71,170 shares in the last quarter. Blair William & Co. IL lifted its stake in Tilray Brands by 55.9% in the 2nd quarter. Blair William & Co. IL now owns 239,743 shares of the company's stock worth $99,000 after purchasing an additional 86,010 shares in the last quarter. Vontobel Holding Ltd. lifted its stake in Tilray Brands by 12.7% in the 2nd quarter. Vontobel Holding Ltd. now owns 272,662 shares of the company's stock worth $113,000 after purchasing an additional 30,818 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft lifted its stake in Tilray Brands by 11.0% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 339,706 shares of the company's stock worth $134,000 after purchasing an additional 33,684 shares in the last quarter. 9.35% of the stock is owned by hedge funds and other institutional investors.

About Tilray Brands

Tilray, Inc engages in the research, cultivation, processing, and distribution of medical cannabis. The company offers its products in Argentina, Australia, Canada, Chile, Croatia, Cyprus, the Czech Republic, Germany, New Zealand, and South Africa. Tilray, Inc is headquartered in Canada.