Tilray Brands (NASDAQ:TLRY) Shares Down 4% - Here's Why

Key Points

• Tilray Brands' stock price decreased by 4% to $1.21, with trading volume down 24% compared to the average, indicating reduced investor activity.
• Analysts have mixed ratings, with Zelman & Associates rating it "neutral" and Jefferies Financial Group recently raising the price target to $2.00, showing varied confidence among research firms.
• The company's most recent earnings report showed a positive earnings per share of $0.02 but revenue fell short of estimates at $224.54 million, indicating challenges in meeting growth expectations.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s stock price fell 4% on Friday . The stock traded as low as $1.20 and last traded at $1.21. 32,424,631 shares traded hands during mid-day trading, a decline of 24% from the average session volume of 42,820,109 shares. The stock had previously closed at $1.26.

Analysts Set New Price Targets

Several research firms recently weighed in on TLRY. Zelman & Associates reiterated a "neutral" rating on shares of Tilray Brands in a report on Tuesday, July 29th. Wall Street Zen cut shares of Tilray Brands to a "strong sell" rating in a report on Saturday, July 5th. Finally, Jefferies Financial Group lifted their price target on shares of Tilray Brands from $1.50 to $2.00 and gave the company a "buy" rating in a report on Monday, August 25th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Tilray Brands presently has an average rating of "Hold" and an average price target of $1.94.

Tilray Brands Trading Down 4.0%

The firm has a 50-day moving average price of $0.96 and a 200-day moving average price of $0.66. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.49 and a current ratio of 2.46. The stock has a market cap of $1.33 billion, a PE ratio of -0.52 and a beta of 2.03.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last posted its quarterly 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 firm had revenue of $224.54 million during the quarter, compared to analyst estimates of $250.41 million. Tilray Brands had a negative return on equity of 6.83% and a negative net margin of 265.69%. As a group, equities analysts anticipate that Tilray Brands, Inc. will post -0.2 EPS for the current fiscal year.

Insider Transactions at Tilray Brands

In related news, CEO Irwin D. Simon bought 165,000 shares of the stock in a transaction on 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 purchase, the chief executive officer owned 3,941,633 shares of the company's stock, valued at approximately $2,404,396.13. The trade was a 4.37% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.60% of the company's stock.

Hedge Funds Weigh In On Tilray Brands

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Captrust Financial Advisors increased its position in shares of Tilray Brands by 535.5% during the 4th quarter. Captrust Financial Advisors now owns 115,825 shares of the company's stock valued at $154,000 after purchasing an additional 97,600 shares during the last quarter. Cetera Investment Advisers increased its position in shares of Tilray Brands by 69.5% during the 4th quarter. Cetera Investment Advisers now owns 208,257 shares of the company's stock valued at $277,000 after purchasing an additional 85,402 shares during the last quarter. Deutsche Bank AG increased its position in shares of Tilray Brands by 62.1% during the 4th quarter. Deutsche Bank AG now owns 75,840 shares of the company's stock valued at $101,000 after purchasing an additional 29,054 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of Tilray Brands during the 4th quarter valued at about $879,000. Finally, Toronto Dominion Bank increased its position in shares of Tilray Brands by 53.0% during the 4th quarter. Toronto Dominion Bank now owns 197,207 shares of the company's stock valued at $260,000 after purchasing an additional 68,284 shares during the last quarter. Institutional investors own 9.35% of the company's stock.

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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