Tilray Brands (NASDAQ:TLRY) Shares Down 4.2% - Should You Sell?

Key Points

• Tilray Brands shares fell by 4.2% on Thursday, closing at $1.14, with a significant decline in trading volume to 14.5 million shares.
• Analysts have mixed opinions on TLRY, with Jefferies increasing the target price to $2.00 while Wall Street Zen gives it a "strong sell" rating; the consensus price target is currently $1.94.
• Recent insider trading includes CEO Irwin D. Simon purchasing 165,000 shares at $0.61 each, increasing his holdings and demonstrating confidence in the company's prospects.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) shares fell 4.2% on Thursday . The stock traded as low as $1.13 and last traded at $1.14. 14,542,334 shares changed hands during trading, a decline of 66% from the average session volume of 42,644,566 shares. The stock had previously closed at $1.19.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TLRY shares. Jefferies Financial Group boosted their target price on shares of Tilray Brands from $1.50 to $2.00 and gave the stock a "buy" rating in a research report on Monday, August 25th. Wall Street Zen cut Tilray Brands to a "strong sell" rating in a report on Saturday, July 5th. Finally, Zelman & Associates reaffirmed a "neutral" rating on shares of Tilray Brands in a research note on Tuesday, July 29th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Tilray Brands has an average rating of "Hold" and a consensus price target of $1.94.

Tilray Brands Stock Performance

The company has a quick ratio of 1.49, a current ratio of 2.46 and a debt-to-equity ratio of 0.20. The firm has a market cap 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 of $0.83 and a 200 day moving average of $0.64.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last issued its earnings results on Monday, July 28th. The company reported $0.02 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 the consensus estimate 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, analysts anticipate that Tilray Brands, Inc. will post -0.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tilray Brands news, CEO Irwin D. Simon bought 165,000 shares of Tilray Brands stock in a transaction on Wednesday, July 30th. The shares were purchased at an average cost of $0.61 per share, with a total value of $100,650.00. Following the acquisition, the chief executive officer directly 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.60% of the stock is owned by insiders.

Institutional Trading of Tilray Brands

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TLRY. Raymond James Financial Inc. acquired a new stake in Tilray Brands during the 4th quarter valued at approximately $255,000. Dimensional Fund Advisors LP increased its position in Tilray Brands by 54.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company's stock valued at $2,890,000 after purchasing an additional 769,569 shares during the period. Tower Research Capital LLC TRC increased its position in Tilray Brands by 55.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 31,875 shares of the company's stock valued at $42,000 after purchasing an additional 11,325 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Tilray Brands by 9.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 786,874 shares of the company's stock valued at $1,042,000 after acquiring an additional 71,202 shares during the period. Finally, Lido Advisors LLC acquired a new position in shares of Tilray Brands during the 4th quarter valued at $28,000. Institutional investors and hedge funds 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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