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

Key Points

• Tilray Brands, Inc. saw its shares open at $2.01 after closing at $2.10, eventually trading down to $1.96 with high volume on Friday.
• Research firm Zelman & Associates maintains a "neutral" rating, while Wall Street Zen downgraded the stock to a "strong sell," reflecting a mixed outlook from analysts.
• CEO Irwin D. Simon purchased 165,000 shares at $0.61 each, increasing his ownership stake by 4.37% amidst fluctuating institutional interest in the stock.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $2.10, but opened at $2.01. Tilray Brands shares last traded at $1.96, with a volume of 30,843,765 shares.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Zelman & Associates reaffirmed 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. Jefferies Financial Group raised their target price on shares of Tilray Brands from $1.50 to $2.00 and gave the stock a "buy" rating in a report on Monday, August 25th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Tilray Brands in a report on Wednesday. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Tilray Brands presently has an average rating of "Hold" and a consensus target price of $1.94.

Tilray Brands Stock Down 14.0%

The company has a debt-to-equity ratio of 0.20, a current ratio of 2.46 and a quick ratio of 1.49. The business's fifty day simple moving average is $1.22 and its two-hundred day simple moving average is $0.75. The company has a market cap of $1.99 billion, a PE ratio of -0.79 and a beta of 1.98.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last announced its earnings results on Monday, July 28th. The company reported $0.02 earnings per share (EPS) for the quarter, beating 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 net margin of 265.69% and a negative return on equity of 6.83%. On average, analysts predict that Tilray Brands, Inc. will post -0.2 earnings per share for the current year.

Insider Activity

In other Tilray Brands news, CEO Irwin D. Simon bought 165,000 shares of the business's stock in a transaction that occurred 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 purchase, the chief executive officer directly owned 3,941,633 shares in the company, valued at approximately $2,404,396.13. This represents a 4.37% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.84% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. J.W. Cole Advisors Inc. boosted its stake 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 purchasing an additional 48,177 shares during the period. Cerity Partners LLC acquired a new stake in Tilray Brands during the 1st quarter worth $31,000. Capital Management Associates Inc boosted its stake in Tilray Brands by 100.0% during the 1st quarter. Capital Management Associates Inc now owns 50,760 shares of the company's stock worth $33,000 after purchasing an additional 25,380 shares during the period. Fifth Lane Capital LP boosted its stake in Tilray Brands by 400.0% during the 1st quarter. Fifth Lane Capital LP now owns 50,000 shares of the company's stock worth $33,000 after purchasing an additional 40,000 shares during the period. Finally, Zuckerman Investment Group LLC acquired a new stake in Tilray Brands during the 1st quarter worth $33,000. 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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