Tilray Brands (NASDAQ:TLRY) Shares Down 5.7% - What's Next?

Key Points

• Tilray Brands' shares dropped by 5.7% to $1.48, with trading volume increasing by 18% compared to the average daily volume.
• Analysts have mixed views on Tilray, with ratings ranging from "buy" to "strong sell," and a consensus rating of "hold" along with an average target price of $2.00.
• Despite a negative net margin of 258.54%, the company reported revenue of $209.50 million for the quarter, exceeding analyst estimates.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) was down 5.7% on Tuesday . The company traded as low as $1.48 and last traded at $1.48. Approximately 58,735,193 shares were traded during mid-day trading, an increase of 18% from the average daily volume of 49,815,375 shares. The stock had previously closed at $1.57.

Analyst Upgrades and Downgrades

TLRY has been the topic of several research reports. Zelman & Associates reaffirmed a "neutral" rating on shares of Tilray Brands in a report on Tuesday, July 29th. Atb Cap Markets cut Tilray Brands from a "hold" rating to a "strong sell" rating in a report on Thursday, October 9th. Wall Street Zen raised Tilray Brands from a "strong sell" rating to a "hold" rating in a report on Saturday, October 11th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Tilray Brands in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group raised their target price on Tilray Brands from $1.50 to $2.00 and gave the stock a "buy" rating in a report on Monday, August 25th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $2.00.

Tilray Brands Price Performance

The company has a fifty day moving average price of $1.35 and a two-hundred day moving average price of $0.80. The company has a current ratio of 2.62, a quick ratio of 1.56 and a debt-to-equity ratio of 0.15. The firm has a market cap of $1.67 billion, a P/E ratio of -0.66 and a beta of 1.98.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last announced its quarterly earnings results on Thursday, October 9th. The company reported $0.00 earnings per share for the quarter, beating analysts' consensus estimates of ($0.03) by $0.03. Tilray Brands had a negative net margin of 258.54% and a negative return on equity of 6.79%. The firm had revenue of $209.50 million for the quarter, compared to analyst estimates of $205.75 million. Equities analysts anticipate that Tilray Brands, Inc. will post -0.2 earnings per share for the current year.

Insider Buying and Selling at Tilray Brands

In other news, CEO Irwin D. Simon bought 165,000 shares of the company's stock in a transaction that occurred on Wednesday, July 30th. The shares were acquired at an average price of $0.61 per share, with a total value of $100,650.00. Following the transaction, the chief executive officer owned 3,941,633 shares in the company, valued at $2,404,396.13. This represents a 4.37% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.84% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TLRY. J.W. Cole Advisors Inc. lifted its position in Tilray Brands by 203.2% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 71,890 shares of the company's stock worth $30,000 after buying an additional 48,177 shares in the last quarter. Cerity Partners LLC acquired a new position in shares of Tilray Brands during the 1st quarter worth approximately $31,000. Capital Management Associates Inc boosted its holdings in shares of Tilray Brands by 100.0% in the 1st quarter. Capital Management Associates Inc now owns 50,760 shares of the company's stock valued at $33,000 after buying an additional 25,380 shares during the last quarter. Fifth Lane Capital LP grew its stake in shares of Tilray Brands by 400.0% in the first quarter. Fifth Lane Capital LP now owns 50,000 shares of the company's stock valued at $33,000 after buying an additional 40,000 shares in the last quarter. Finally, Zuckerman Investment Group LLC acquired a new position in Tilray Brands during the first quarter worth $33,000. 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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