Tilray Brands (NASDAQ:TLRY) Shares Down 3.3% - Should You Sell?

Key Points

• Tilray shares fell 3.3% to $4.67 in Thursday trading, with volume below the average session level. The stock remains below its 200-day moving average of $5.84.
• Analyst views are mixed: TD Cowen cut its price target to $5 while maintaining a Buy rating, whereas Weiss Ratings and Wall Street Zen issued Sell ratings. Overall, analysts maintain a “Moderate Buy” consensus with an $11 average price target.
• Tilray missed quarterly earnings expectations by a wide margin, reporting a loss of $0.43 per share versus an expected loss of $0.01, despite revenue exceeding estimates. Insiders have continued buying shares, including a 10,000-share purchase by the CFO.

Shares of Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) traded down 3.3% during trading on Thursday . The stock traded as low as $4.55 and last traded at $4.67. 3,695,714 shares were traded during trading, a decline of 14% from the average session volume of 4,302,019 shares. The stock had previously closed at $4.83.

Analyst Upgrades and Downgrades

TLRY has been the subject of several recent analyst reports. TD Cowen dropped their target price on shares of Tilray Brands from $7.00 to $5.00 and set a "buy" rating for the company in a report on Tuesday, July 14th. Weiss Ratings reissued a "sell (e+)" rating on shares of Tilray Brands in a report on Friday, August 7th. Wall Street Zen downgraded Tilray Brands from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. Finally, TD Securities raised Tilray Brands to a "strong-buy" rating in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $11.00.

Tilray Brands Price Performance

The firm's fifty day moving average price is $4.49 and its 200 day moving average price is $5.84. 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 stock has a market cap of $636.05 million, a PE ratio of -4.32 and a beta of 1.90.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last posted its earnings results on Tuesday, July 28th. The company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.42). The company 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%. As a group, equities analysts expect that Tilray Brands, Inc. will post -0.4 EPS for the current fiscal year.

Insider Activity at Tilray Brands

In other news, CFO Carl A. Merton acquired 10,000 shares of the business's stock in a transaction dated Tuesday, August 4th. The stock was purchased at an average price of $4.62 per share, for a total transaction of $46,200.00. Following the completion of the transaction, the chief financial officer directly owned 139,753 shares in the company, valued at approximately $645,658.86. This trade represents a 7.71% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have bought 15,000 shares of company stock worth $69,225. 0.84% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tilray Brands

Institutional investors have recently added to or reduced their stakes in the company. Hilton Head Capital Partners LLC purchased a new position in shares of Tilray Brands in the fourth quarter valued at $38,000. Essential Partners LLC increased its position in Tilray Brands by 110,137.5% in the first quarter. Essential Partners LLC now owns 8,819 shares of the company's stock worth $57,000 after purchasing an additional 8,811 shares during the last quarter. Deutsche Bank AG purchased a new stake in Tilray Brands during the second quarter valued at $44,000. Corient Private Wealth LP purchased a new stake in Tilray Brands during the second quarter valued at $53,000. Finally, Centaurus Financial Inc. purchased a new position in shares of Tilray Brands in the 2nd quarter worth $58,000. Hedge funds and other institutional investors own 9.35% of the company's stock.

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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