Tilray Brands (NASDAQ:TLRY) Stock Price Down 6.5% - What's Next?

Key Points

• Tilray Brands' stock price fell by 6.5% to $1.73, with a significant increase in trading volume of 254% compared to its average session volume.
• Analyst ratings for Tilray Brands vary, with Wall Street Zen issuing a "strong sell" rating, while Jefferies Financial Group upgraded their price target to $2.00, rating it as a "buy."
• Despite recently reporting a $0.02 EPS for the quarter, Tilray's revenues fell short of expectations, garnering $224.54 million against an anticipated $250.41 million.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s share price traded down 6.5% on Tuesday . The company traded as low as $1.62 and last traded at $1.73. 160,512,403 shares changed hands during trading, an increase of 254% from the average session volume of 45,285,781 shares. The stock had previously closed at $1.85.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Wall Street Zen lowered Tilray Brands to a "strong sell" rating in a research report on Saturday, July 5th. Jefferies Financial Group upped their price objective on Tilray Brands from $1.50 to $2.00 and gave the stock a "buy" rating in a research report on Monday, August 25th. Finally, Zelman & Associates reissued a "neutral" rating on shares of Tilray Brands in a report on Tuesday, July 29th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $1.94.

Tilray Brands Stock Down 6.5%

The stock has a market cap of $1.90 billion, a PE ratio of -0.75 and a beta of 2.01. The firm has a fifty day moving average of $1.05 and a 200 day moving average of $0.69. The company has a quick ratio of 1.49, a current ratio of 2.46 and a debt-to-equity ratio of 0.20.

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 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 firm had revenue of $224.54 million for the quarter, compared to analyst estimates of $250.41 million. On average, equities research analysts anticipate that Tilray Brands, Inc. will post -0.2 EPS for the current fiscal year.

Insider Transactions at Tilray Brands

In related news, CEO Irwin D. Simon acquired 165,000 shares of the firm's stock in a transaction on Wednesday, July 30th. The stock was bought at an average price of $0.61 per share, for a total transaction of $100,650.00. Following the completion of the purchase, 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tilray Brands

Several hedge funds have recently made changes to their positions in TLRY. J.W. Cole Advisors Inc. boosted its stake in shares of Tilray Brands by 203.2% during the second quarter. J.W. Cole Advisors Inc. now owns 71,890 shares of the company's stock worth $30,000 after buying an additional 48,177 shares during the period. Cerity Partners LLC acquired a new stake in shares of Tilray Brands during the first quarter worth about $31,000. Capital Management Associates Inc boosted its stake in shares of Tilray Brands by 100.0% during the first quarter. Capital Management Associates Inc now owns 50,760 shares of the company's stock worth $33,000 after buying an additional 25,380 shares during the period. Fifth Lane Capital LP boosted its stake in shares of Tilray Brands by 400.0% during the first quarter. Fifth Lane Capital LP now owns 50,000 shares of the company's stock worth $33,000 after buying an additional 40,000 shares during the period. Finally, Zuckerman Investment Group LLC acquired a new stake in shares of Tilray Brands during the first quarter worth about $33,000. Institutional investors and hedge funds 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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