Tilray Brands (NASDAQ:TLRY) Shares Down 2.3% - Here's What Happened

Key Points

• Shares fell 2.3% to $6.79 (intraday low $6.72) on Thursday with ~2.67M shares traded, about 25% below average, and the stock remains below its 200‑day moving average ($9.87) while near its 50‑day ($7.08).
• Tilray missed EPS for the quarter (‑$0.24 vs. est. ‑$0.14) despite revenue of $206.7M topping estimates; the company reported a negative net margin (156.51%) and negative return on equity.
• Analyst coverage is mixed (3 Buy, 4 Hold, 1 Sell) with a consensus rating of "Hold" and a consensus price target of $11.50.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) dropped 2.3% during trading on Thursday . The stock traded as low as $6.72 and last traded at $6.79. Approximately 2,670,441 shares traded hands during trading, a decline of 25% from the average daily volume of 3,576,508 shares. The stock had previously closed at $6.95.

Analyst Upgrades and Downgrades

TLRY has been the subject of several recent research reports. Wall Street Zen upgraded Tilray Brands from a "sell" rating to a "hold" rating in a report on Saturday, March 21st. Canaccord Genuity Group initiated coverage on Tilray Brands in a report on Tuesday, January 27th. They set a "hold" rating for the company. ATB Cormark Capital Markets decreased their price objective on Tilray Brands from $9.50 to $9.00 and set a "sector perform" rating for the company in a report on Thursday, April 2nd. Weiss Ratings restated a "sell (d-)" rating on shares of Tilray Brands in a report on Wednesday, January 21st. Finally, Roth Mkm upgraded Tilray Brands from a "neutral" rating to a "buy" rating and set a $10.00 price objective for the company in a report on Thursday, April 2nd. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $11.50.

Tilray Brands Stock Performance

The company has a market cap of $791.37 million, a PE ratio of -0.50 and a beta of 2.00. The company has a quick ratio of 1.66, a current ratio of 2.79 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average of $7.08 and a 200-day moving average of $9.87.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last announced its earnings results on Wednesday, April 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.10). The company had revenue of $206.73 million for the quarter, compared to analysts' expectations of $201.35 million. Tilray Brands had a negative net margin of 156.51% and a negative return on equity of 3.31%. During the same period in the previous year, the firm earned ($0.87) EPS. As a group, analysts anticipate that Tilray Brands, Inc. will post -0.2 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TLRY. Tidal Investments LLC boosted its position in shares of Tilray Brands by 15.0% during the second quarter. Tidal Investments LLC now owns 28,971,835 shares of the company's stock valued at $12,006,000 after buying an additional 3,776,410 shares during the last quarter. Millennium Management LLC boosted its position in Tilray Brands by 281.0% in the third quarter. Millennium Management LLC now owns 4,942,319 shares of the company's stock worth $8,550,000 after purchasing an additional 3,645,060 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Tilray Brands in the third quarter worth $5,813,000. Ausdal Financial Partners Inc. purchased a new position in Tilray Brands in the second quarter worth $939,000. Finally, Scientech Research LLC purchased a new position in Tilray Brands in the third quarter worth $1,748,000. Hedge funds and other institutional investors own 9.35% of the company's stock.

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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