Tilray Brands (NASDAQ:TLRY) Shares Down 2.5% - What's Next?

Key Points

• Tilray Brands' shares fell by 2.5% on Monday, trading as low as $1.51, with a notable increase in trading volume from the average.
• Analysts have mixed ratings on Tilray, with a consensus price target of $1.94 and most ratings falling in the "Hold" category, alongside Jefferies increasing its price target to $2.00 with a "buy" rating.
• CEO Irwin D. Simon recently acquired 165,000 shares of Tilray, indicating his confidence in the company, while various institutional investors have been adjusting their holdings in the stock.

Shares of Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) traded down 2.5% on Monday . The stock traded as low as $1.51 and last traded at $1.58. 86,689,188 shares were traded during trading, an increase of 87% from the average session volume of 46,318,941 shares. The stock had previously closed at $1.62.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Tilray Brands in a research note on Saturday, September 27th. Zelman & Associates reiterated a "neutral" rating on shares of Tilray Brands in a report on Tuesday, July 29th. Wall Street Zen cut Tilray Brands to a "strong sell" rating in a research note on Saturday, July 5th. Finally, Jefferies Financial Group raised their price target on Tilray Brands from $1.50 to $2.00 and gave the stock a "buy" rating in a research report on Monday, August 25th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $1.94.

Tilray Brands Stock Down 2.5%

The firm has a 50-day moving average price of $1.14 and a two-hundred day moving average price of $0.73. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of -0.68 and a beta of 1.98. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.49 and a current ratio of 2.46.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.05. The company 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, sell-side analysts forecast that Tilray Brands, Inc. will post -0.2 earnings per share for the current year.

Insider Activity

In other news, CEO Irwin D. Simon bought 165,000 shares of the business's stock in a transaction dated Wednesday, July 30th. The shares were acquired at an average price of $0.61 per share, for a total transaction of $100,650.00. Following the completion of the transaction, the chief executive officer owned 3,941,633 shares of the company's stock, valued at approximately $2,404,396.13. This trade represents a 4.37% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.84% of the company's stock.

Institutional Trading of Tilray Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC grew its stake in shares of Tilray Brands by 317.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 166,326 shares of the company's stock valued at $221,000 after purchasing an additional 126,507 shares during the last quarter. California State Teachers Retirement System grew its position in Tilray Brands by 8.0% in the 4th quarter. California State Teachers Retirement System now owns 778,513 shares of the company's stock valued at $1,035,000 after buying an additional 57,544 shares during the last quarter. Garde Capital Inc. acquired a new position in Tilray Brands in the 1st quarter valued at $46,000. Madrona Financial Services LLC raised its position in Tilray Brands by 42.9% during the 1st quarter. Madrona Financial Services LLC now owns 100,000 shares of the company's stock worth $66,000 after buying an additional 30,000 shares during the last quarter. Finally, KBC Group NV lifted its stake in shares of Tilray Brands by 102.6% in the 1st quarter. KBC Group NV now owns 77,657 shares of the company's stock worth $51,000 after acquiring an additional 39,325 shares during the period. 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.

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