Tilray Brands (NASDAQ:TLRY) Stock Price Down 4.4% - What's Next?

Key Points

• Tilray Brands shares fell by 4.4%, trading as low as $1.13, with over 90 million shares changing hands during the trading session.
• Analysts have mixed ratings on Tilray, with one strong sell, four holds, and one buy, as the stock has a consensus price target of $1.92.
• Despite a slight earnings beat with $0.02 EPS, the company reported a negative net margin of 265.69% and revenue below expectations at $224.54 million.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s share price dropped 4.4% on Thursday . The company traded as low as $1.13 and last traded at $1.20. Approximately 90,192,546 shares changed hands during mid-day trading, an increase of 126% from the average daily volume of 39,828,438 shares. The stock had previously closed at $1.25.

Wall Street Analysts Forecast Growth

TLRY has been the subject of several analyst reports. Wall Street Zen downgraded shares of Tilray Brands to a "strong sell" rating in a report on Saturday, July 5th. Zelman & Associates reissued a "neutral" rating on shares of Tilray Brands in a report on Tuesday, July 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $1.92.

Tilray Brands Trading Down 7.6%

The firm has a market cap of $1.27 billion, a PE ratio of -0.50 and a beta of 1.85. The company has a quick ratio of 1.49, a current ratio of 2.46 and a debt-to-equity ratio of 0.20. The stock's fifty day simple moving average is $0.56 and its two-hundred day simple moving average is $0.61.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last posted its quarterly 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. Tilray Brands had a negative net margin of 265.69% and a negative return on equity of 6.83%. The firm had revenue of $224.54 million for the quarter, compared to analysts' expectations of $250.41 million. On average, sell-side analysts forecast that Tilray Brands, Inc. will post -0.2 EPS for the current fiscal year.

Insider Transactions at Tilray Brands

In other Tilray Brands news, CEO Irwin D. Simon purchased 165,000 shares of the firm's stock in a transaction on Wednesday, July 30th. The shares were acquired at an average cost of $0.61 per share, for a total transaction of $100,650.00. Following the completion of the transaction, the chief executive officer 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.60% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TLRY. Dimensional Fund Advisors LP increased its holdings in shares of Tilray Brands by 54.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company's stock worth $2,890,000 after buying an additional 769,569 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Tilray Brands by 112.7% in the 4th quarter. JPMorgan Chase & Co. now owns 919,082 shares of the company's stock worth $1,222,000 after buying an additional 487,051 shares during the last quarter. Millennium Management LLC bought a new stake in shares of Tilray Brands in the 4th quarter worth about $879,000. Raymond James Financial Inc. bought a new position in Tilray Brands during the 4th quarter valued at about $255,000. Finally, Tidal Investments LLC grew its holdings in Tilray Brands by 9.2% during the 4th quarter. Tidal Investments LLC now owns 10,595,264 shares of the company's stock valued at $14,092,000 after purchasing an additional 889,086 shares during the last quarter. 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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