Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) dropped 18.1% on Friday . The company traded as low as $1.71 and last traded at $1.72. Approximately 147,054,985 shares changed hands during mid-day trading, an increase of 201% from the average daily volume of 48,909,227 shares. The stock had previously closed at $2.10.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on TLRY. Jefferies Financial Group upped their price target on Tilray Brands from $1.50 to $2.00 and gave the company a "buy" rating in a research report on Monday, August 25th. Zelman & Associates reaffirmed a "neutral" rating on shares of Tilray Brands in a research note on Tuesday, July 29th. Wall Street Zen cut shares of Tilray Brands to a "strong sell" rating in a research note on Saturday, July 5th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Tilray Brands in a research report on Wednesday. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $1.94.
Get Our Latest Stock Analysis on TLRY
Tilray Brands Stock Down 18.1%
The company has a market cap of $1.89 billion, a P/E ratio of -0.74 and a beta of 1.98. The company has a current ratio of 2.46, a quick ratio of 1.49 and a debt-to-equity ratio of 0.20. The firm's 50 day moving average price is $1.22 and its 200-day moving average price is $0.75.
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. Tilray Brands had a negative return on equity of 6.83% and a negative net margin of 265.69%.The business had revenue of $224.54 million for the quarter, compared to analyst estimates of $250.41 million. As a group, equities research analysts expect that Tilray Brands, Inc. will post -0.2 EPS for the current year.
Insider Buying and Selling at Tilray Brands
In other news, CEO Irwin D. Simon purchased 165,000 shares of Tilray Brands stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 3,941,633 shares in the company, valued at $2,404,396.13. This trade represents a 4.37% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.84% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Tilray Brands by 317.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 166,326 shares of the company's stock valued at $221,000 after purchasing an additional 126,507 shares in the last quarter. Garde Capital Inc. bought a new position in Tilray Brands in the first quarter valued at approximately $46,000. Madrona Financial Services LLC lifted its stake in Tilray Brands by 42.9% in the first quarter. Madrona Financial Services LLC now owns 100,000 shares of the company's stock valued at $66,000 after buying an additional 30,000 shares in the last quarter. KBC Group NV lifted its stake in Tilray Brands by 102.6% in the first quarter. KBC Group NV now owns 77,657 shares of the company's stock valued at $51,000 after buying an additional 39,325 shares in the last quarter. Finally, Tradewinds Capital Management LLC lifted its stake in Tilray Brands by 2,038.6% in the first quarter. Tradewinds Capital Management LLC now owns 73,460 shares of the company's stock valued at $48,000 after buying an additional 70,025 shares in the last quarter. 9.35% of the stock is currently owned by institutional investors.
About Tilray Brands
(
Get Free Report)
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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