Tilray Brands (NASDAQ:TLRY) Trading Down 1.7% - Here's Why

Key Points

• Tilray Brands (TLRY) shares fell about 1.7% to $5.66 mid-day, trading ~3.99 million shares—roughly 13% below its average session volume.
• The company missed EPS with ($0.24) versus the ($0.14) consensus while reporting revenue of $206.73 million, and remains unprofitable with a negative net margin of 156.5%.
• Analysts are mixed—MarketBeat shows an average rating of "Hold" and an average price target of $11.50, with three Buys, four Holds and one Sell and several recent target revisions.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) shares fell 1.7% during mid-day trading on Thursday . The company traded as low as $5.59 and last traded at $5.66. 3,988,174 shares were traded during trading, a decline of 13% from the average session volume of 4,597,841 shares. The stock had previously closed at $5.76.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TLRY. Zacks Research upgraded Tilray Brands from a "strong sell" rating to a "hold" rating in a research report on Wednesday, February 11th. Canaccord Genuity Group began coverage on Tilray Brands in a report on Tuesday, January 27th. They issued a "hold" rating for the company. TD Cowen lowered their target price on Tilray Brands from $10.00 to $7.00 and set a "buy" rating for the company in a report on Monday, March 30th. Roth Mkm upgraded Tilray Brands from a "neutral" rating to a "buy" rating and set a $10.00 target price for the company in a report on Thursday, April 2nd. Finally, ATB Cormark Capital Markets reduced their price target on shares of Tilray Brands from $9.50 to $9.00 and set a "sector perform" rating for the company in a report on Thursday, April 2nd. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $11.50.

Tilray Brands Price Performance

The firm has a market capitalization of $659.67 million, a price-to-earnings ratio of -0.41 and a beta of 1.94. The business's fifty day simple moving average is $6.84 and its 200 day simple moving average is $8.87. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.79 and a quick ratio of 1.66.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last released its quarterly earnings data on Wednesday, April 1st. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.10). The firm had revenue of $206.73 million for the quarter, compared to the consensus estimate of $201.35 million. Tilray Brands had a negative net margin of 156.51% and a negative return on equity of 3.31%. During the same quarter in the prior year, the firm earned ($0.87) EPS. On average, research analysts forecast that Tilray Brands, Inc. will post -0.58 EPS for the current year.

Insider Activity at Tilray Brands

In other news, Director David G. Hopkinson sold 33,556 shares of the business's stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $6.94, for a total transaction of $232,878.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.84% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tilray Brands

Hedge funds and other institutional investors have recently modified their holdings of the company. Tudor Investment Corp ET AL bought a new stake in Tilray Brands during the third quarter worth $518,000. Optiver Holding B.V. grew its holdings in Tilray Brands by 239.4% during the third quarter. Optiver Holding B.V. now owns 224,049 shares of the company's stock worth $388,000 after buying an additional 158,041 shares in the last quarter. Cresset Asset Management LLC grew its holdings in Tilray Brands by 72.1% during the third quarter. Cresset Asset Management LLC now owns 501,989 shares of the company's stock worth $868,000 after buying an additional 210,267 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in Tilray Brands by 99,204,800.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 992,049 shares of the company's stock worth $1,716,000 after buying an additional 992,048 shares in the last quarter. Finally, Zuckerman Investment Group LLC bought a new stake in Tilray Brands during the third quarter worth $147,000. Institutional investors own 9.35% of the company's stock.

About Tilray Brands

Tilray Brands, Inc is a global cannabis-lifestyle and consumer packaged goods company engaged in the cultivation, production, distribution and sale of cannabis and cannabinoid-based products. The company develops and markets a diverse portfolio of branded products spanning medical cannabis, adult-use recreational products and wellness offerings. Through state-of-the-art cultivation facilities, research and development efforts, and quality control systems, Tilray Brands aims to deliver consistent, scalable products for a range of patient and consumer needs.

Tilray's product lineup includes cannabis flower, pre-rolls, oils and tinctures, vapes, edibles and topicals, as well as hemp-derived cannabidiol (CBD) products.

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