Tilray Brands (NASDAQ:TLRY) Stock Price Down 9.1% - Should You Sell?

Key Points

• Tilray Brands' stock price dropped by 9.1% on Tuesday, trading as low as $1.24, with a total of 27,098,400 shares exchanged, which is significantly lower than the average session volume.
• Despite the stock's decline, Wall Street analysts show a mixed outlook, with two analysts rating it as a Buy and four issuing Hold ratings, leading to a consensus target price of $1.94.
• CEO Irwin D. Simon purchased 165,000 shares at $0.61 each, indicating confidence in the company as he increased his ownership stake to 3,941,633 shares valued at approximately $2.4 million.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s stock price traded down 9.1% on Tuesday . The stock traded as low as $1.24 and last traded at $1.26. 27,098,400 shares were traded during trading, a decline of 36% from the average session volume of 42,594,070 shares. The stock had previously closed at $1.38.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on TLRY shares. Zelman & Associates reaffirmed a "neutral" rating on shares of Tilray Brands in a report on Tuesday, July 29th. Wall Street Zen lowered Tilray Brands to a "strong sell" rating in a report on Saturday, July 5th. Finally, Jefferies Financial Group raised their price target on Tilray Brands from $1.50 to $2.00 and gave the company a "buy" rating in a research report on Monday, August 25th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Tilray Brands presently has a consensus rating of "Hold" and a consensus target price of $1.94.

Tilray Brands Price Performance

The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.49 and a current ratio of 2.46. The firm's fifty day moving average is $0.78 and its two-hundred day moving average is $0.63. The company has a market cap of $1.36 billion, a P/E ratio of -0.53 and a beta of 2.01.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last announced 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 during the quarter, compared to the consensus estimate of $250.41 million. As a group, analysts anticipate that Tilray Brands, Inc. will post -0.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Tilray Brands

A number of hedge funds and other institutional investors have recently modified their holdings of TLRY. Tidal Investments LLC lifted its stake in shares of Tilray Brands by 15.0% during the second quarter. Tidal Investments LLC now owns 28,971,835 shares of the company's stock worth $12,006,000 after buying an additional 3,776,410 shares during the period. Ausdal Financial Partners Inc. acquired a new stake in shares of Tilray Brands during the second quarter worth $939,000. Dimensional Fund Advisors LP lifted its stake in shares of Tilray Brands by 54.8% during the fourth 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 period. Millennium Management LLC acquired a new stake in shares of Tilray Brands during the fourth quarter worth $879,000. Finally, AQR Capital Management LLC lifted its stake in shares of Tilray Brands by 1,839.7% during the first quarter. AQR Capital Management LLC now owns 607,054 shares of the company's stock worth $399,000 after buying an additional 575,757 shares during the period. 9.35% of the stock is currently owned by institutional investors.

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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