Tilray Brands (NASDAQ:TLRY) Trading Down 3.3% - What's Next?

Key Points

• Tilray shares fell 3.3% to $4.42 in midday trading, with volume below the daily average. The stock remains below its 50-day and 200-day moving averages of $4.58 and $6.06, respectively.
• Tilray’s latest quarterly results were mixed: revenue of $281.71 million exceeded expectations, but the company reported an EPS loss of $0.43 versus the $0.01 loss analysts expected.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an $11 average price target, although some firms recently lowered or downgraded their views. Insiders have also purchased 15,000 shares over the past 90 days.

Shares of Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) were down 3.3% on Monday . The stock traded as low as $4.33 and last traded at $4.42. 3,767,630 shares were traded during mid-day trading, a decline of 13% from the average daily volume of 4,330,846 shares. The stock had previously closed at $4.57.

Analysts Set New Price Targets

TLRY has been the topic of a number of recent research reports. TD Cowen cut their target price on shares of Tilray Brands from $7.00 to $5.00 and set a "buy" rating on the stock in a report on Tuesday, July 14th. Weiss Ratings cut shares of Tilray Brands from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday, May 13th. Wall Street Zen downgraded shares of Tilray Brands from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. Finally, TD Securities upgraded shares of Tilray Brands to a "strong-buy" rating in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Tilray Brands has a consensus rating of "Moderate Buy" and an average target price of $11.00.

Tilray Brands Trading Down 3.5%

The firm has a market cap of $600.64 million, a PE ratio of -4.08 and a beta of 1.90. The company's fifty day moving average price is $4.58 and its two-hundred day moving average price is $6.06. 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 posted its quarterly 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). The firm had revenue of $281.71 million for the quarter, compared to analysts' expectations of $246.30 million. Tilray Brands had a negative return on equity of 7.76% and a negative net margin of 13.11%. As a group, sell-side analysts forecast that Tilray Brands, Inc. will post -0.4 earnings per share for the current fiscal year.

Insider Transactions at Tilray Brands

In other Tilray Brands news, CFO Carl A. Merton bought 10,000 shares of the business's stock in a transaction dated Tuesday, August 4th. The stock was acquired at an average cost of $4.62 per share, with a total value of $46,200.00. Following the purchase, the chief financial officer owned 139,753 shares in the company, valued at approximately $645,658.86. This represents a 7.71% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last 90 days, insiders purchased 15,000 shares of company stock worth $69,225. Insiders own 0.84% of the company's stock.

Institutional Trading of Tilray Brands

A number of institutional investors have recently modified their holdings of the business. AQR Capital Management LLC raised its position in Tilray Brands by 1,839.7% in the first quarter. AQR Capital Management LLC now owns 607,054 shares of the company's stock worth $399,000 after acquiring an additional 575,757 shares in the last quarter. XTX Topco Ltd acquired a new stake in Tilray Brands in the second quarter valued at $112,000. Cerity Partners LLC lifted its holdings in Tilray Brands by 98.5% in the second quarter. Cerity Partners LLC now owns 92,560 shares of the company's stock valued at $38,000 after acquiring an additional 45,929 shares during the period. Ausdal Financial Partners Inc. purchased a new stake in shares of Tilray Brands during the 2nd quarter worth $939,000. Finally, Bank of America Corp DE boosted its position in shares of Tilray Brands by 26.5% during the 2nd quarter. Bank of America Corp DE now owns 311,810 shares of the company's stock worth $129,000 after purchasing an additional 65,379 shares in the last quarter. 9.35% of the stock is currently owned by hedge funds and other institutional investors.

About Tilray Brands

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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