Tilray Brands (NASDAQ:TLRY) Shares Down 5.9% - Should You Sell?

Key Points

• Tilray Brands' stock fell 5.9% during midday trading, closing at $1.37, with a significant drop in trading volume, decreasing by 29% compared to the average session.
• Equities analysts have mixed views on Tilray, with Jefferies raising the price target to $2.00 and a "buy" rating, while Wall Street Zen downgraded it to a "strong sell," resulting in an average rating of "Hold."
• Tilray reported a quarterly earnings per share (EPS) of $0.02, surpassing estimates but experiencing a negative net margin of 265.69% and lower revenue than anticipated at $224.54 million.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s stock price traded down 5.9% during mid-day trading on Wednesday . The company traded as low as $1.35 and last traded at $1.37. 29,814,084 shares traded hands during trading, a decline of 29% from the average session volume of 42,042,184 shares. The stock had previously closed at $1.45.

Wall Street Analyst Weigh In

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

Tilray Brands Stock Performance

The company has a market cap of $1.54 billion, a P/E ratio of -0.60 and a beta of 1.85. The firm has a 50 day moving average price of $0.70 and a 200-day moving average price of $0.62. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.49 and a current ratio of 2.46.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last released 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. Tilray Brands had a negative return on equity of 6.83% and a negative net margin of 265.69%.The company had revenue of $224.54 million during the quarter, compared to the consensus estimate of $250.41 million. On average, research analysts predict that Tilray Brands, Inc. will post -0.2 EPS for the current year.

Insider Buying and Selling at Tilray Brands

In other Tilray Brands news, CEO Irwin D. Simon acquired 165,000 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The stock was 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 of the company's stock, valued at approximately $2,404,396.13. This trade represents a 4.37% increase in their ownership of the stock. The acquisition 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

Several large investors have recently made changes to their positions in the business. Lido Advisors LLC bought a new position in Tilray Brands during the fourth quarter valued at about $28,000. J.W. Cole Advisors Inc. grew its holdings in shares of Tilray Brands by 203.2% during the second quarter. J.W. Cole Advisors Inc. now owns 71,890 shares of the company's stock worth $30,000 after purchasing an additional 48,177 shares during the last quarter. Cerity Partners LLC acquired a new stake in shares of Tilray Brands in the first quarter valued at approximately $31,000. Capital Management Associates Inc increased its holdings in shares of Tilray Brands by 100.0% in the first quarter. Capital Management Associates Inc now owns 50,760 shares of the company's stock valued at $33,000 after purchasing an additional 25,380 shares in the last quarter. Finally, Fifth Lane Capital LP boosted its stake in 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 acquiring an additional 40,000 shares during the last quarter. 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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