Tilray Brands (NASDAQ:TLRY) Stock Price Down 2.1% - Time to Sell?

Key Points

• Tilray shares fell 2.1% to $4.68, with trading volume 32% below the average session volume. The stock remains below its 200-day moving average of $6.00.
• Analyst sentiment is mixed but leans positive overall: MarketBeat reports a consensus “Moderate Buy” rating and an $11.00 price target, despite recent downgrades and a reduced $5.00 target from TD Cowen.
• Tilray’s latest quarter showed a significant EPS miss, at a loss of $0.43 versus the expected loss of $0.01, although revenue of $281.71 million exceeded estimates. The CFO and other insiders have purchased 15,000 shares over the past 90 days.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s share price dropped 2.1% during trading on Wednesday . The stock traded as low as $4.63 and last traded at $4.68. 2,934,744 shares traded hands during trading, a decline of 32% from the average session volume of 4,329,600 shares. The stock had previously closed at $4.78.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. TD Securities raised Tilray Brands to a "strong-buy" rating in a report on Friday, July 31st. Weiss Ratings reiterated a "sell (e+)" rating on shares of Tilray Brands in a report on Friday. TD Cowen cut their price objective on Tilray Brands from $7.00 to $5.00 and set a "buy" rating on the stock in a research report on Tuesday, July 14th. Finally, Wall Street Zen downgraded Tilray Brands from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $11.00.

Tilray Brands Price Performance

The company has a current ratio of 2.21, a quick ratio of 1.37 and a debt-to-equity ratio of 0.22. The company has a market cap of $637.43 million, a P/E ratio of -4.33 and a beta of 1.90. The business's fifty day moving average is $4.55 and its 200 day moving average is $6.00.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.42). Tilray Brands had a negative net margin of 13.11% and a negative return on equity of 7.76%. The firm had revenue of $281.71 million during the quarter, compared to analysts' expectations of $246.30 million. As a group, sell-side analysts anticipate that Tilray Brands, Inc. will post -0.4 EPS for the current year.

Insider Activity at Tilray Brands

In other news, CFO Carl A. Merton purchased 10,000 shares of the business's stock in a transaction dated Tuesday, August 4th. The stock was bought at an average price of $4.62 per share, for a total transaction of $46,200.00. Following the purchase, the chief financial officer owned 139,753 shares of the company's stock, valued at $645,658.86. The trade was a 7.71% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders acquired 15,000 shares of company stock worth $69,225. 0.84% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tilray Brands

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tudor Investment Corp ET AL bought a new stake in shares of Tilray Brands in the third quarter valued at approximately $518,000. Hillsdale Investment Management Inc. bought a new position in Tilray Brands in the 4th quarter worth approximately $4,855,000. IFP Advisors Inc boosted its holdings in Tilray Brands by 14.3% in the 4th quarter. IFP Advisors Inc now owns 60,318 shares of the company's stock worth $545,000 after buying an additional 7,541 shares during the period. State of New Jersey Common Pension Fund D purchased a new position in Tilray Brands in the 4th quarter valued at approximately $346,000. Finally, Entropy Technologies LP purchased a new position in Tilray Brands in the 1st quarter valued at approximately $123,000. 9.35% of the stock is currently owned by institutional investors.

Tilray Brands Company Profile

Tilray Brands, Inc is a global cannabis-lifestyle and consumer packaged goods company engaged in the cultivation, production, distribution and sale of cannabis and cannabinoid-based products. The company develops and markets a diverse portfolio of branded products spanning medical cannabis, adult-use recreational products and wellness offerings. Through state-of-the-art cultivation facilities, research and development efforts, and quality control systems, Tilray Brands aims to deliver consistent, scalable products for a range of patient and consumer needs.

Tilray's product lineup includes cannabis flower, pre-rolls, oils and tinctures, vapes, edibles and topicals, as well as hemp-derived cannabidiol (CBD) products.

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