Tilray Brands (NASDAQ:TLRY) Trading Down 2.7% - Time to Sell?

Key Points

• Tilray Brands' stock price dropped 2.7% to $1.61, with trading volume surging by 157% compared to its average daily volume.
• Wall Street analysts have mixed opinions, with a consensus rating of "Hold" and a price target estimate of $1.94, while Jefferies Financial Group upgraded its rating to "buy" with a price target of $2.00.
• CEO Irwin D. Simon increased his stake in Tilray by acquiring 165,000 shares at an average price of $0.61, raising his total holdings to nearly $2.4 million.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s stock price was down 2.7% during trading on Thursday . The stock traded as low as $1.59 and last traded at $1.61. Approximately 117,906,768 shares were traded during mid-day trading, an increase of 157% from the average daily volume of 45,895,027 shares. The stock had previously closed at $1.66.

Wall Street Analyst Weigh In

Several research analysts recently commented on TLRY shares. Wall Street Zen cut Tilray Brands to a "strong sell" rating in a research note on Saturday, July 5th. Zelman & Associates reiterated a "neutral" rating on shares of Tilray Brands in a research note on Tuesday, July 29th. Finally, Jefferies Financial Group boosted their price target on Tilray Brands from $1.50 to $2.00 and gave the stock a "buy" rating in a research note on Monday, August 25th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $1.94.

Tilray Brands Stock Down 2.7%

The company has a market cap of $1.77 billion, a price-to-earnings ratio of -0.70 and a beta of 1.98. The company has a current ratio of 2.46, a quick ratio of 1.49 and a debt-to-equity ratio of 0.20. The firm's fifty day moving average price is $1.09 and its 200-day moving average price is $0.71.

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

Insider Activity

In related news, CEO Irwin D. Simon acquired 165,000 shares of the company's stock in a transaction that occurred on Wednesday, July 30th. The stock was acquired at an average price of $0.61 per share, with a total value of $100,650.00. Following the purchase, the chief executive officer directly owned 3,941,633 shares in the company, valued at approximately $2,404,396.13. This trade 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 this link. Corporate insiders own 0.60% of the company's stock.

Institutional Investors Weigh In On Tilray Brands

Institutional investors have recently made changes to their positions in the business. Tidal Investments LLC boosted its stake 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 valued at $12,006,000 after purchasing an additional 3,776,410 shares during the period. Ausdal Financial Partners Inc. acquired a new position in Tilray Brands in the 2nd quarter worth approximately $939,000. Millennium Management LLC purchased a new stake in Tilray Brands in the 4th quarter worth approximately $879,000. AQR Capital Management LLC boosted 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 in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Tilray Brands by 17.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,964,380 shares of the company's stock valued at $2,613,000 after purchasing an additional 286,481 shares in the last quarter. Hedge funds and other institutional investors 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.

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