Tilray Brands (NASDAQ:TLRY) Trading Down 2.5% - Here's What Happened

Key Points

• Tilray shares fell 2.5% to $4.72, with trading volume 29% below the average session volume. The stock remains below its 200-day moving average of $5.80.
• Analyst sentiment is mixed but leans positive, with an overall “Moderate Buy” rating and a consensus price target of $11.00; however, some analysts recently downgraded the stock or cut their targets.
• Tilray’s latest quarterly results missed significantly on earnings, reporting a $0.43 per-share loss versus a $0.01 expected loss, despite revenue of $281.71 million exceeding estimates.

Shares of Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) fell 2.5% on Monday . The company traded as low as $4.61 and last traded at $4.72. 3,067,777 shares changed hands during trading, a decline of 29% from the average session volume of 4,294,800 shares. The stock had previously closed at $4.84.

Analyst Ratings Changes

Several research analysts have recently issued reports on TLRY shares. TD Securities raised Tilray Brands to a "strong-buy" rating in a research report on Friday, July 31st. TD Cowen reduced their price target on Tilray Brands from $7.00 to $5.00 and set a "buy" rating on the stock in a research note on Tuesday, July 14th. Wall Street Zen downgraded Tilray Brands from a "hold" rating to a "sell" rating in a report on Saturday, August 1st. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Tilray Brands in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Tilray Brands presently has an average rating of "Moderate Buy" and a consensus target price of $11.00.

Tilray Brands Trading Down 2.5%

The stock's fifty day simple moving average is $4.48 and its two-hundred day simple moving average is $5.80. The firm has a market cap of $642.88 million, a PE ratio of -4.37 and a beta of 1.90. The company has a quick ratio of 1.37, a current ratio of 2.21 and a debt-to-equity ratio of 0.22.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last released its earnings results on Tuesday, July 28th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.42). Tilray Brands had a negative net margin of 13.11% and a negative return on equity of 7.76%. The business had revenue of $281.71 million for the quarter, compared to analysts' expectations of $246.30 million. On average, sell-side analysts forecast that Tilray Brands, Inc. will post -0.42 EPS for the current fiscal year.

Insider Buying and Selling at Tilray Brands

In related news, CFO Carl A. Merton purchased 10,000 shares of the stock in a transaction dated Tuesday, August 4th. The stock was purchased at an average price of $4.62 per share, with a total value of $46,200.00. Following the transaction, the chief financial officer directly owned 139,753 shares in the company, valued at $645,658.86. This trade represents a 7.71% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders acquired 15,000 shares of company stock worth $69,225 in the last ninety days. 0.84% of the stock is owned by company insiders.

Institutional Trading of Tilray Brands

Several institutional investors have recently bought and sold shares of the company. Hillsdale Investment Management Inc. bought a new position in shares of Tilray Brands in the fourth quarter worth approximately $4,855,000. IFP Advisors Inc increased its position in shares of Tilray Brands by 14.3% during the fourth quarter. IFP Advisors Inc now owns 60,318 shares of the company's stock valued at $545,000 after acquiring an additional 7,541 shares in the last quarter. State of New Jersey Common Pension Fund D purchased a new position in Tilray Brands in the 4th quarter worth approximately $346,000. Essential Partners LLC raised its holdings in Tilray Brands by 110,137.5% in the 1st quarter. Essential Partners LLC now owns 8,819 shares of the company's stock worth $57,000 after acquiring an additional 8,811 shares during the last quarter. Finally, Entropy Technologies LP bought a new position in Tilray Brands in the 1st quarter valued at approximately $123,000. 9.35% of the stock is owned by hedge funds and other institutional investors.

Tilray Brands Company Profile

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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