Tilray Brands (NASDAQ:TLRY) Trading Down 1.7% - Should You Sell?

Key Points

• Tilray Brands' stock declined by 1.7% to close at $1.69, with an increase in trading volume to approximately 54.39 million shares.
• Analyst opinions vary, with two rating the stock as a Buy, three as a Hold, and two as a Sell, while Jefferies raised the target price to $2.00.
• The company reported a quarterly revenue of $209.50 million, exceeding estimates, while also posting a negative net margin of -258.54%.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s stock price dropped 1.7% during mid-day trading on Monday . The company traded as low as $1.65 and last traded at $1.69. Approximately 54,385,585 shares were traded during trading, an increase of 11% from the average daily volume of 48,964,121 shares. The stock had previously closed at $1.72.

Analyst Upgrades and Downgrades

TLRY has been the subject of a number of research reports. Wall Street Zen raised shares of Tilray Brands from a "strong sell" rating to a "hold" rating in a research note on Saturday. Jefferies Financial Group lifted their target price on shares of Tilray Brands from $1.50 to $2.00 and gave the company a "buy" rating in a research note on Monday, August 25th. Zelman & Associates reissued a "neutral" rating on shares of Tilray Brands in a research note on Tuesday, July 29th. Weiss Ratings reissued a "sell (d-)" rating on shares of Tilray Brands in a research note on Wednesday, October 8th. Finally, Atb Cap Markets lowered shares of Tilray Brands from a "hold" rating to a "strong sell" rating in a research note on Thursday. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $2.00.

Tilray Brands Stock Performance

The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.56 and a current ratio of 2.62. The firm's 50-day moving average price is $1.24 and its two-hundred day moving average price is $0.76. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of -0.74 and a beta of 1.98.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last released its quarterly earnings results on Thursday, October 9th. The company reported $0.00 EPS for the quarter, beating analysts' consensus estimates of ($0.03) by $0.03. The firm had revenue of $209.50 million for the quarter, compared to analyst estimates of $205.75 million. Tilray Brands had a negative net margin of 258.54% and a negative return on equity of 6.79%. Sell-side analysts predict that Tilray Brands, Inc. will post -0.2 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Irwin D. Simon purchased 165,000 shares of Tilray Brands stock in a transaction on Wednesday, July 30th. The shares were purchased at an average cost of $0.61 per share, for a total transaction of $100,650.00. Following the completion of the transaction, the chief executive officer directly owned 3,941,633 shares in the company, valued at approximately $2,404,396.13. This represents a 4.37% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.84% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tilray Brands

A number of large investors have recently modified their holdings of the stock. Tidal Investments LLC lifted its position 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 purchasing an additional 3,776,410 shares in the last quarter. Ausdal Financial Partners Inc. bought a new stake in shares of Tilray Brands during the second quarter worth approximately $939,000. Swiss National Bank raised its stake in shares of Tilray Brands by 6.1% during the second quarter. Swiss National Bank now owns 1,928,138 shares of the company's stock worth $799,000 after buying an additional 111,500 shares during the last quarter. Quinn Opportunity Partners LLC raised its stake in shares of Tilray Brands by 11.6% during the second quarter. Quinn Opportunity Partners LLC now owns 1,918,080 shares of the company's stock worth $795,000 after buying an additional 200,000 shares during the last quarter. Finally, TD Asset Management Inc raised its stake in shares of Tilray Brands by 6.5% during the first quarter. TD Asset Management Inc now owns 1,627,247 shares of the company's stock worth $1,063,000 after buying an additional 100,017 shares during the last quarter. 9.35% of the stock is currently 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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