Tilray Brands (NASDAQ:TLRY) Stock Price Down 5.2% - Here's Why

Key Points

• Tilray Brands' stock declined by 5.2% during mid-day trading, reaching a low of $1.18, with a significant drop in trading volume compared to the average.
• Research analysts have varied opinions on Tilray, with two giving it a "Buy" rating while others issued a "Hold" or "Strong Sell," leading to a consensus rating of "Hold" and an average price target of $1.94.
• Insider activity included CEO Irwin D. Simon purchasing 165,000 shares at $0.61 each, marking a 4.37% increase in his ownership stake, amidst growing institutional interest in the company.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s share price traded down 5.2% during mid-day trading on Wednesday . The company traded as low as $1.18 and last traded at $1.19. 18,417,900 shares were traded during mid-day trading, a decline of 57% from the average session volume of 42,578,215 shares. The stock had previously closed at $1.25.

Wall Street Analyst Weigh In

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

Tilray Brands Price Performance

The company has a fifty day moving average of $0.80 and a 200 day moving average of $0.63. The firm has a market capitalization of $1.30 billion, a P/E ratio of -0.51 and a beta of 2.03. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.46 and a quick ratio of 1.49.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last announced its earnings results on Monday, July 28th. The company reported $0.02 EPS for the quarter, beating 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 analysts' expectations of $250.41 million. Sell-side analysts predict that Tilray Brands, Inc. will post -0.2 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Irwin D. Simon bought 165,000 shares of Tilray Brands stock in a transaction that occurred 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 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 purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Tilray Brands

Several institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC lifted its stake in Tilray Brands by 55.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 31,875 shares of the company's stock valued at $42,000 after buying an additional 11,325 shares during the period. Schonfeld Strategic Advisors LLC lifted its stake in Tilray Brands by 68.0% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 35,121 shares of the company's stock valued at $47,000 after buying an additional 14,221 shares during the period. Lido Advisors LLC acquired a new position in Tilray Brands in the fourth quarter valued at approximately $28,000. SBI Securities Co. Ltd. lifted its stake in Tilray Brands by 8.8% in the second quarter. SBI Securities Co. Ltd. now owns 300,707 shares of the company's stock valued at $125,000 after buying an additional 24,375 shares during the period. Finally, Capital Management Associates Inc lifted its stake in Tilray Brands by 100.0% in the first quarter. Capital Management Associates Inc now owns 50,760 shares of the company's stock valued at $33,000 after buying an additional 25,380 shares during the period. 9.35% of the stock is 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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