Tilray Brands (NASDAQ:TLRY) Stock Price Down 4.3% - Here's What Happened

Key Points

• Tilray Brands stock fell by 4.3% to $1.66 amidst a significant trading day, with volume increasing by 84% over its daily average.
• Analysts have varied opinions on TLRY, with Jefferies raising the price target to $2.00 and two analysts rating it as a "Buy," while the average consensus rating remains "Hold."
• Despite reporting a negative net margin of 265.69% for the last quarter, Tilray managed to beat earnings expectations with an EPS of $0.02 against a forecast of -$0.03.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s stock price dropped 4.3% during trading on Wednesday . The company traded as low as $1.64 and last traded at $1.66. Approximately 83,682,792 shares changed hands during mid-day trading, an increase of 84% from the average daily volume of 45,497,871 shares. The stock had previously closed at $1.73.

Wall Street Analyst Weigh In

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

Tilray Brands Stock Down 4.3%

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 has a market cap of $1.82 billion, a PE ratio of -0.72 and a beta of 2.01. The business's 50-day simple moving average is $1.07 and its 200 day simple moving average is $0.70.

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

Insider Activity

In related news, CEO Irwin D. Simon bought 165,000 shares of the company's stock in a transaction on Wednesday, July 30th. The shares were bought at an average price of $0.61 per share, with a total value of $100,650.00. Following the transaction, the chief executive officer owned 3,941,633 shares in the company, valued at approximately $2,404,396.13. This trade represents a 4.37% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.60% of the stock is currently owned by insiders.

Institutional Trading of Tilray Brands

Large investors have recently bought and sold shares of the stock. Millennium Management LLC purchased a new stake in Tilray Brands during the 4th quarter worth approximately $879,000. Deutsche Bank AG grew its position in Tilray Brands by 62.1% during the 4th quarter. Deutsche Bank AG now owns 75,840 shares of the company's stock worth $101,000 after purchasing an additional 29,054 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Tilray Brands by 17.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,964,380 shares of the company's stock worth $2,613,000 after purchasing an additional 286,481 shares during the last quarter. California State Teachers Retirement System grew its position in Tilray Brands by 8.0% during the 4th quarter. California State Teachers Retirement System now owns 778,513 shares of the company's stock worth $1,035,000 after purchasing an additional 57,544 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its stake in Tilray Brands by 81.7% during the 4th quarter. Two Sigma Advisers LP now owns 164,800 shares of the company's stock valued at $219,000 after acquiring an additional 74,100 shares during the period. Hedge funds and other institutional investors own 9.35% of the company's stock.

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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