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

Key Points

• Tilray shares gapped down premarket, opening at $1.18 versus the prior close of $1.23 and last trading at $1.195 on a volume of about 9.4 million shares.
• Analyst sentiment is mixed—2 Buys, 3 Holds and 2 Sells—with a consensus rating of Hold and an average price target of $2.00.
• The company beat quarterly expectations (EPS $0.00 vs. -$0.03 expected; revenue $209.5M vs. $205.75M) but remains unprofitable with a negative net margin (-258.54%) and negative return on equity, market cap roughly $1.3B.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) shares gapped down prior to trading on Thursday . The stock had previously closed at $1.23, but opened at $1.18. Tilray Brands shares last traded at $1.1950, with a volume of 9,404,588 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on TLRY shares. Weiss Ratings reissued a "sell (d-)" rating on shares of Tilray Brands in a research report on Wednesday, October 8th. Wall Street Zen upgraded Tilray Brands from a "strong sell" rating to a "hold" rating in a report on Saturday, October 11th. Jefferies Financial Group boosted their price objective on Tilray Brands from $1.50 to $2.00 and gave the company a "buy" rating in a report on Monday, August 25th. Zelman & Associates reiterated a "neutral" rating on shares of Tilray Brands in a report on Tuesday, July 29th. Finally, Atb Cap Markets lowered shares of Tilray Brands from a "hold" rating to a "strong sell" rating in a research note on Thursday, October 9th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, Tilray Brands currently has an average rating of "Hold" and a consensus price target of $2.00.

Tilray Brands Stock Down 6.0%

The stock's 50 day moving average is $1.40 and its 200 day moving average is $0.90. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.56 and a current ratio of 2.62. The company has a market capitalization of $1.30 billion, a PE ratio of -0.52 and a beta of 2.04.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last issued its quarterly earnings data on Thursday, October 9th. The company reported $0.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.03) by $0.03. The business had revenue of $209.50 million for the quarter, compared to analysts' expectations of $205.75 million. Tilray Brands had a negative return on equity of 6.79% and a negative net margin of 258.54%. On average, sell-side analysts anticipate that Tilray Brands, Inc. will post -0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Silverlake Wealth Management LLC purchased a new stake in Tilray Brands in the third quarter valued at approximately $25,000. Oppenheimer & Co. Inc. purchased a new stake in Tilray Brands during the third quarter valued at about $25,000. Unified Investment Management bought a new stake in Tilray Brands during the third quarter worth about $26,000. J.W. Cole Advisors Inc. increased its position in shares of Tilray Brands by 203.2% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 71,890 shares of the company's stock valued at $30,000 after purchasing an additional 48,177 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in Tilray Brands in the 3rd quarter worth approximately $30,000. 9.35% of the stock is currently owned by 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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