Tilray Brands (NASDAQ:TLRY) Trading Down 3.3% - Time to Sell?

Key Points

• Tilray Brands' stock price declined by 3.3% to $1.03, with a notable drop in trading volume, down 63% from its average.
• Recent analyst ratings are mixed, with one buy, four holds, and a price target of $1.92, while Wall Street Zen has assigned a "strong sell" rating.
• Despite the fluctuations, CEO Irwin D. Simon recently acquired 165,000 shares at an average price of $0.61, increasing his ownership stake by 4.37%.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s stock price dropped 3.3% during trading on Wednesday . The company traded as low as $1.01 and last traded at $1.03. Approximately 15,159,590 shares were traded during trading, a decline of 63% from the average daily volume of 40,562,680 shares. The stock had previously closed at $1.06.

Wall Street Analyst Weigh In

TLRY has been the topic of a number of recent analyst reports. Zelman & Associates reissued a "neutral" rating on shares of Tilray Brands in a report on Tuesday, July 29th. Wall Street Zen lowered Tilray Brands to a "strong sell" rating in a research report on Saturday, July 5th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $1.92.

Tilray Brands Stock Up 0.5%

The company has a 50-day simple moving average of $0.62 and a 200-day simple moving average of $0.61. The firm has a market cap of $1.17 billion, a PE ratio of -0.46 and a beta of 1.85. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.46 and a quick ratio of 1.49.

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

Insider Buying and Selling

In other Tilray Brands news, CEO Irwin D. Simon acquired 165,000 shares of Tilray Brands stock in a transaction that occurred on Wednesday, July 30th. The stock was bought at an average price of $0.61 per share, with a total value 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 approximately $2,404,396.13. This represents a 4.37% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tilray Brands

A number of large investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC raised its stake in Tilray Brands by 55.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 31,875 shares of the company's stock worth $42,000 after buying an additional 11,325 shares in the last quarter. NewEdge Advisors LLC grew its holdings in Tilray Brands by 92.1% in the fourth quarter. NewEdge Advisors LLC now owns 27,406 shares of the company's stock worth $36,000 after purchasing an additional 13,136 shares during the last quarter. TD Waterhouse Canada Inc. grew its holdings in Tilray Brands by 59.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 37,009 shares of the company's stock worth $49,000 after purchasing an additional 13,786 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its holdings in Tilray Brands by 68.0% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 35,121 shares of the company's stock worth $47,000 after purchasing an additional 14,221 shares during the last quarter. Finally, Lido Advisors LLC purchased a new position in Tilray Brands in the fourth quarter worth $28,000. 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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