Tilray Brands (NASDAQ:TLRY) Stock Price Down 2.6% - Here's Why

Key Points

• Tilray Brands' stock decreased by 2.6% to $0.57 after trading as low as $0.55, with significant volume decline observed at 6.5 million shares.
• Analysts have issued mixed reviews, with Piper Sandler cutting the price target from $2.00 to $1.00, while the overall consensus rating remains "Hold" with an average price target of $1.92.
• CEO Irwin D. Simon purchased 165,000 shares at an average price of $0.61, indicating confidence in the company's future despite recent stock performance challenges.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) was down 2.6% during mid-day trading on Friday . The stock traded as low as $0.55 and last traded at $0.57. Approximately 6,504,420 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 35,711,355 shares. The stock had previously closed at $0.58.

Analysts Set New Price Targets

TLRY has been the topic of a number of analyst reports. Piper Sandler reduced their price target on Tilray Brands from $2.00 to $1.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 9th. Roth Capital reaffirmed a "neutral" rating on shares of Tilray Brands in a report on Monday, April 14th. Wall Street Zen cut shares of Tilray Brands to a "strong sell" rating in a report on Saturday, July 5th. Finally, Zelman & Associates reaffirmed a "neutral" rating on shares of Tilray Brands in a report on Tuesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Tilray Brands has an average rating of "Hold" and a consensus price target of $1.92.

Tilray Brands Price Performance

The stock has a 50-day moving average price of $0.50 and a 200 day moving average price of $0.64. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.46 and a quick ratio of 1.61. The firm has a market cap of $570.69 million, a price-to-earnings ratio of -0.25 and a beta of 1.82.

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

Insider Transactions at Tilray Brands

In other Tilray Brands news, CEO Irwin D. Simon acquired 165,000 shares of the company's stock in a transaction that occurred on Wednesday, July 30th. The shares were purchased at an average price of $0.61 per share, with a total value of $100,650.00. Following the completion of the acquisition, the chief executive officer directly owned 3,941,633 shares of the company's stock, valued at approximately $2,404,396.13. The trade was a 4.37% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.60% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TLRY. Lido Advisors LLC acquired a new stake in shares of Tilray Brands in the 4th quarter worth approximately $28,000. NewEdge Advisors LLC boosted its stake in shares of Tilray Brands by 92.1% during the 4th quarter. NewEdge Advisors LLC now owns 27,406 shares of the company's stock worth $36,000 after purchasing an additional 13,136 shares during the last quarter. Bank of Nova Scotia acquired a new stake in Tilray Brands during the fourth quarter worth approximately $41,000. Zacks Investment Management acquired a new stake in Tilray Brands in the 4th quarter worth about $41,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of Tilray Brands by 55.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 31,875 shares of the company's stock worth $42,000 after acquiring an additional 11,325 shares during the last quarter. 9.35% of the stock is currently owned by institutional investors and hedge funds.

Tilray Brands Company Profile

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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