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

Key Points

• Tilray Brands gapped down from $1.38 to open at $1.28, with shares last trading at $1.29 and a volume of over 22 million shares.
• Analyst ratings vary, with Wall Street Zen issuing a "strong sell," while Jefferies Financial Group raised its price target to $2.00 and rated the stock a "buy."
• The company reported a quarterly revenue of $224.54 million, missing estimates, and has a negative return on equity of -6.83% amid a challenging market environment.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $1.38, but opened at $1.28. Tilray Brands shares last traded at $1.29, with a volume of 22,408,239 shares traded.

Analyst Ratings Changes

A number of research firms have recently issued reports on TLRY. Wall Street Zen lowered shares of Tilray Brands to a "strong sell" rating in a research report on Saturday, July 5th. Zelman & Associates restated a "neutral" rating on shares of Tilray Brands in a report on Tuesday, July 29th. Finally, Jefferies Financial Group increased their price objective on Tilray Brands from $1.50 to $2.00 and gave the stock a "buy" rating in a report on Monday, August 25th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $1.94.

Tilray Brands Stock Performance

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 firm has a fifty day simple moving average of $0.78 and a 200 day simple moving average of $0.63. The company has a market cap of $1.39 billion, a price-to-earnings ratio of -0.55 and a beta of 2.01.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The company reported $0.02 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $250.41 million. On average, sell-side analysts expect that Tilray Brands, Inc. will post -0.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Irwin D. Simon purchased 165,000 shares of the stock in a transaction on Wednesday, July 30th. The shares were bought at an average price of $0.61 per share, for a total transaction of $100,650.00. Following the completion of the acquisition, the chief executive officer directly 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 is accessible through this hyperlink. 0.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tilray Brands

Hedge funds and other institutional investors have recently modified their holdings of the stock. Lido Advisors LLC acquired a new stake in shares of Tilray Brands in the fourth quarter worth $28,000. J.W. Cole Advisors Inc. grew its stake in shares of Tilray Brands by 203.2% in the second quarter. J.W. Cole Advisors Inc. now owns 71,890 shares of the company's stock worth $30,000 after acquiring 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 worth $31,000. Capital Management Associates Inc lifted its position in Tilray Brands by 100.0% in the first 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. Finally, Fifth Lane Capital LP lifted its position in Tilray Brands by 400.0% in the first 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. 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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