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

Key Points

• Tilray Brands' stock price fell 2.5% to $1.19 with a trading volume that decreased 17% from its average daily volume.
• Analysts have mixed opinions; Jefferies Financial Group raised their price target to $2.00 with a "buy" rating, while Wall Street Zen assigned a "strong sell" rating.
• Tilray reported a revenue of $224.54 million for the last quarter, which fell short of analysts' expectations of $250.41 million.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s share price traded down 2.5% during trading on Wednesday . The stock traded as low as $1.17 and last traded at $1.19. 35,693,763 shares were traded during trading, a decline of 17% from the average session volume of 42,840,348 shares. The stock had previously closed at $1.22.

Wall Street Analysts Forecast Growth

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

Tilray Brands Stock Down 4.4%

The firm has a 50 day moving average price of $0.96 and a 200-day moving average price of $0.66. The firm has a market cap of $1.33 billion, a PE ratio of -0.52 and a beta of 2.03. The company has a current ratio of 2.46, a quick ratio of 1.49 and a debt-to-equity ratio of 0.20.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last released its earnings results on Monday, July 28th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.03) by $0.05. The business had revenue of $224.54 million for the quarter, compared to analyst estimates of $250.41 million. Tilray Brands had a negative return on equity of 6.83% and a negative net margin of 265.69%. Research analysts forecast that Tilray Brands, Inc. will post -0.2 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Irwin D. Simon purchased 165,000 shares of the company's stock in a transaction on Wednesday, July 30th. The stock was bought at an average cost of $0.61 per share, for a total transaction of $100,650.00. Following the completion of the purchase, the chief executive officer directly owned 3,941,633 shares of the company's stock, valued at $2,404,396.13. The trade was a 4.37% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tilray Brands

A number of large investors have recently modified their holdings of the stock. Tidal Investments LLC boosted its position in Tilray Brands by 15.0% during 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 during the last quarter. Ausdal Financial Partners Inc. acquired a new position in shares of Tilray Brands in the 2nd quarter worth approximately $939,000. Millennium Management LLC acquired a new position in shares of Tilray Brands in the 4th quarter worth approximately $879,000. AQR Capital Management LLC raised its position in Tilray Brands by 1,839.7% in the 1st quarter. AQR Capital Management LLC now owns 607,054 shares of the company's stock worth $399,000 after purchasing an additional 575,757 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Tilray Brands by 17.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,964,380 shares of the company's stock worth $2,613,000 after purchasing an additional 286,481 shares during the period. Institutional investors and hedge funds own 9.35% of the company's stock.

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.