Tilray Brands (NASDAQ:TLRY) Shares Down 3.4% - Here's Why

Key Points

• Tilray Brands' shares dropped 3.4% during trading, with prices fluctuating between $1.14 and $1.15.
• Analysts have mixed reviews on Tilray, as Zelman & Associates maintains a "neutral" rating while Wall Street Zen downgraded the stock to a "strong sell."
• CEO Irwin D. Simon purchased 165,000 shares at approximately $0.61, increasing his holdings in the company significantly.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s share price was down 3.4% during trading on Friday . The company traded as low as $1.14 and last traded at $1.15. Approximately 43,154,153 shares changed hands during mid-day trading, an increase of 1% from the average daily volume of 42,873,680 shares. The stock had previously closed at $1.19.

Wall Street Analyst Weigh In

TLRY has been the topic of several analyst reports. Zelman & Associates restated a "neutral" rating on shares of Tilray Brands in a research report on Tuesday, July 29th. Wall Street Zen downgraded Tilray Brands to a "strong sell" rating in a research report on Saturday, July 5th. Finally, Jefferies Financial Group raised their price objective on Tilray Brands from $1.50 to $2.00 and gave the company a "buy" rating in a report on Monday, August 25th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, Tilray Brands has a consensus rating of "Hold" and an average target price of $1.94.

Tilray Brands Price Performance

The company has a debt-to-equity ratio of 0.20, a current ratio of 2.46 and a quick ratio of 1.49. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of -0.50 and a beta of 2.03. The stock has a 50 day moving average price of $1.02 and a 200-day moving average price of $0.68.

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

Insider Buying and Selling at Tilray Brands

In other Tilray Brands news, CEO Irwin D. Simon purchased 165,000 shares of the stock in a transaction that occurred on Wednesday, July 30th. The shares were purchased at an average cost 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 $2,404,396.13. The trade was a 4.37% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.60% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tidal Investments LLC increased its holdings in shares of Tilray Brands by 15.0% in the second quarter. Tidal Investments LLC now owns 28,971,835 shares of the company's stock valued at $12,006,000 after purchasing an additional 3,776,410 shares during the last quarter. Ausdal Financial Partners Inc. purchased a new stake in Tilray Brands in the 2nd quarter valued at $939,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Tilray Brands by 17.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,964,380 shares of the company's stock worth $2,613,000 after acquiring an additional 286,481 shares during the last quarter. Swiss National Bank raised its holdings in shares of Tilray Brands by 6.1% during the 2nd quarter. Swiss National Bank now owns 1,928,138 shares of the company's stock worth $799,000 after acquiring an additional 111,500 shares during the period. Finally, Quinn Opportunity Partners LLC boosted its position in shares of Tilray Brands by 11.6% during the 2nd quarter. Quinn Opportunity Partners LLC now owns 1,918,080 shares of the company's stock valued at $795,000 after acquiring an additional 200,000 shares during the last quarter. 9.35% of the stock is currently owned by institutional investors and hedge funds.

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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