Tilray Brands (NASDAQ:TLRY) Stock Rating Lowered by Atb Cap Markets

Key Points

• Tilray Brands has been downgraded by Atb Capital Markets from a "hold" to a "strong sell" rating, reflecting growing concerns among analysts about the stock's performance.
• The current consensus target price for Tilray's stock is $2.00, with reports indicating mixed ratings from various analysts, showing a range from "buy" to "sell."
• Despite a recent earnings report that surpassed estimates, Tilray's stock has experienced an 18.1% decline in value, indicating significant volatility in the company's performance.

Tilray Brands (NASDAQ:TLRY - Get Free Report) was downgraded by Atb Cap Markets from a "hold" rating to a "strong sell" rating in a note issued to investors on Thursday,Zacks.com reports.

A number of other analysts have also issued reports on TLRY. Wall Street Zen upgraded shares of Tilray Brands from a "strong sell" rating to a "hold" rating in a research note on Saturday. Jefferies Financial Group upped their target price 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. Weiss Ratings restated a "sell (d-)" rating on shares of Tilray Brands in a research note on Wednesday. Finally, Zelman & Associates restated a "neutral" rating on shares of Tilray Brands in a research note on Tuesday, July 29th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $2.00.

Tilray Brands Stock Down 18.1%

Shares of NASDAQ:TLRY opened at $1.72 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.46 and a quick ratio of 1.49. The firm has a market capitalization of $1.89 billion, a PE ratio of -0.76 and a beta of 1.98. The firm's 50-day moving average is $1.24 and its two-hundred day moving average is $0.76. Tilray Brands has a 1 year low of $0.35 and a 1 year high of $2.32.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.03) by $0.05. The company had revenue of $224.54 million for the quarter, compared to analyst estimates of $250.41 million. Tilray Brands had a negative net margin of 258.54% and a negative return on equity of 6.11%. Analysts predict that Tilray Brands will post -0.2 EPS for the current year.

Insider Buying and Selling at Tilray Brands

In other Tilray Brands news, CEO Irwin D. Simon purchased 165,000 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was purchased at an average cost of $0.61 per share, with a total value 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 $2,404,396.13. This trade represents a 4.37% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.84% of the company's stock.

Hedge Funds Weigh In On Tilray Brands

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tidal Investments LLC boosted its holdings in Tilray Brands by 15.0% in the second quarter. Tidal Investments LLC now owns 28,971,835 shares of the company's stock valued at $12,006,000 after purchasing an additional 3,776,410 shares in the last quarter. Ausdal Financial Partners Inc. acquired a new position in Tilray Brands in the second quarter valued at approximately $939,000. Swiss National Bank boosted its holdings in Tilray Brands by 6.1% in the second quarter. Swiss National Bank now owns 1,928,138 shares of the company's stock valued at $799,000 after purchasing an additional 111,500 shares in the last quarter. Quinn Opportunity Partners LLC boosted its holdings in Tilray Brands by 11.6% in the second quarter. Quinn Opportunity Partners LLC now owns 1,918,080 shares of the company's stock valued at $795,000 after purchasing an additional 200,000 shares in the last quarter. Finally, TD Asset Management Inc boosted its holdings in Tilray Brands by 6.5% in the first quarter. TD Asset Management Inc now owns 1,627,247 shares of the company's stock valued at $1,063,000 after purchasing an additional 100,017 shares in the last quarter. 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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