Tilray Brands (NASDAQ:TLRY) Shares Down 6.3% - What's Next?

Key Points

• Tilray Brands' stock experienced a decline of 6.3% during mid-day trading, with shares trading as low as $1.10 and averaging 19.9 million shares traded, a 53% decrease from its usual volume.
• Analysts have mixed views on Tilray, with Jefferies raising its target price to $2.00 and a "buy" rating, while Wall Street Zen assigned a "strong sell" rating, leading to an average rating of "Hold" with a price target of $1.94.
• Tilray reported earnings of $0.02 per share, surpassing estimates, although revenue fell short of expectations at $224.54 million against an anticipated $250.41 million.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s stock price was down 6.3% during mid-day trading on Monday . The stock traded as low as $1.10 and last traded at $1.12. Approximately 19,882,329 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 42,649,887 shares. The stock had previously closed at $1.19.

Analyst Ratings Changes

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

Tilray Brands Stock Down 7.1%

The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -0.48 and a beta of 2.01. The business has a 50-day moving average price of $0.85 and a 200-day moving average price of $0.64. The company has a quick ratio of 1.49, a current ratio of 2.46 and a debt-to-equity ratio of 0.20.

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 business had revenue of $224.54 million for 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 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Irwin D. Simon purchased 165,000 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The shares were bought at an average cost of $0.61 per share, for a total transaction of $100,650.00. Following the acquisition, 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.60% of the stock is currently owned by insiders.

Institutional Trading of Tilray Brands

Institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC boosted its stake in shares of Tilray Brands by 55.1% in 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 in the last quarter. Schonfeld Strategic Advisors LLC increased its holdings in Tilray Brands by 68.0% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 35,121 shares of the company's stock worth $47,000 after acquiring an additional 14,221 shares during the last quarter. SBI Securities Co. Ltd. lifted its position in Tilray Brands by 8.8% in the 2nd quarter. SBI Securities Co. Ltd. now owns 300,707 shares of the company's stock worth $125,000 after buying an additional 24,375 shares during the last quarter. Capital Management Associates Inc increased its stake in shares of Tilray Brands by 100.0% during the first 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 period. Finally, Deutsche Bank AG boosted its holdings in shares of Tilray Brands by 62.1% in the fourth quarter. Deutsche Bank AG now owns 75,840 shares of the company's stock worth $101,000 after buying an additional 29,054 shares during the last quarter. Institutional investors own 9.35% of the company's stock.

Tilray Brands Company Profile

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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