Tilray Brands (NASDAQ:TLRY) Shares Gap Down - Time to Sell?

Key Points

• Tilray Brands' shares gapped down, opening at $1.15 compared to a previous close of $1.25, with the stock last trading at $1.22.
• Wall Street analysts currently hold a mixed view on Tilray, with one "strong sell," four "hold," and one "buy" rating, while the average price target stands at $1.92.
• CEO Irwin D. Simon purchased 165,000 shares at an average cost of $0.61, reflecting insider confidence amid mixed analyst sentiments.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) shares gapped down before the market opened on Thursday . The stock had previously closed at $1.25, but opened at $1.15. Tilray Brands shares last traded at $1.22, with a volume of 57,568,733 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Zelman & Associates reaffirmed a "neutral" rating on shares of Tilray Brands in a research note on Tuesday, July 29th. Wall Street Zen downgraded shares of Tilray Brands to a "strong sell" rating in a research note on Saturday, July 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, Tilray Brands presently has an average rating of "Hold" and an average price target of $1.92.

Tilray Brands Stock Performance

The firm's 50 day moving average is $0.56 and its two-hundred day moving average is $0.61. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.49 and a current ratio of 2.46. The stock has a market capitalization of $1.27 billion, a PE ratio of -0.50 and a beta of 1.85.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The company reported $0.02 EPS for the quarter, beating analysts' consensus estimates of ($0.03) by $0.05. Tilray Brands had a negative net margin of 265.69% and a negative return on equity of 6.83%. The company had revenue of $224.54 million for the quarter, compared to the consensus estimate of $250.41 million. As a group, research analysts predict that Tilray Brands, Inc. will post -0.2 earnings per share for the current year.

Insider Activity at Tilray Brands

In other news, CEO Irwin D. Simon acquired 165,000 shares of the company's stock in a transaction on Wednesday, July 30th. The shares were bought at an average cost 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 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 can be accessed through the SEC website. Corporate insiders own 0.60% of the company's stock.

Institutional Investors Weigh In On Tilray Brands

A number of large investors have recently modified their holdings of TLRY. Tidal Investments LLC increased its position in shares of Tilray Brands by 9.2% in the 4th quarter. Tidal Investments LLC now owns 10,595,264 shares of the company's stock valued at $14,092,000 after purchasing an additional 889,086 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Tilray Brands by 54.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company's stock valued at $2,890,000 after buying an additional 769,569 shares during the last quarter. Millennium Management LLC purchased a new position in shares of Tilray Brands in the 4th quarter valued at $879,000. AQR Capital Management LLC grew its position in shares of Tilray Brands by 1,839.7% in the 1st quarter. AQR Capital Management LLC now owns 607,054 shares of the company's stock valued at $399,000 after buying an additional 575,757 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Tilray Brands by 112.7% in the 4th quarter. JPMorgan Chase & Co. now owns 919,082 shares of the company's stock valued at $1,222,000 after buying an additional 487,051 shares during the last quarter. 9.35% of the stock is owned by hedge funds and other institutional investors.

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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