Tilray Brands (NASDAQ:TLRY) Trading Down 3.6% - Here's What Happened

Key Points

• Tilray Brands shares fell about 3.6% (trading as low as $6.79 and last at $6.89) on volume of 4.18 million shares, roughly 16% above the average session volume.
• The company missed Q earnings expectations with EPS of ($0.24) vs. consensus ($0.14), though revenue beat at $206.7M; Tilray remains unprofitable with a negative net margin (~156.5%) and negative ROE.
• Analysts give a consensus rating of Hold and a $11.50 consensus target, with mixed individual ratings (3 Buys, 4 Holds, 1 Sell) and recent target adjustments such as ATB Cormark cutting its target to $9.00.

Shares of Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) fell 3.6% on Tuesday . The stock traded as low as $6.79 and last traded at $6.89. 4,183,639 shares were traded during trading, an increase of 16% from the average session volume of 3,606,689 shares. The stock had previously closed at $7.15.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TLRY. ATB Cormark Capital Markets lowered their target price on shares of Tilray Brands from $9.50 to $9.00 and set a "sector perform" rating for the company in a research note on Thursday, April 2nd. Zacks Research raised shares of Tilray Brands from a "strong sell" rating to a "hold" rating in a research note on Wednesday, February 11th. Wall Street Zen raised shares of Tilray Brands from a "sell" rating to a "hold" rating in a research note on Saturday, March 21st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Tilray Brands in a research note on Wednesday, January 21st. Finally, Canaccord Genuity Group began coverage on shares of Tilray Brands in a research note on Tuesday, January 27th. They set a "hold" rating for the company. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Tilray Brands has a consensus rating of "Hold" and a consensus target price of $11.50.

Tilray Brands Trading Down 3.6%

The company's 50 day moving average price is $7.05 and its 200 day moving average price is $9.61. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.79 and a quick ratio of 1.66. The firm has a market cap of $803.03 million, a PE ratio of -0.50 and a beta of 2.00.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last posted its quarterly earnings data on Wednesday, April 1st. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.10). Tilray Brands had a negative net margin of 156.51% and a negative return on equity of 3.31%. The business had revenue of $206.73 million during the quarter, compared to analysts' expectations of $201.35 million. During the same period in the previous year, the business posted ($0.87) EPS. As a group, analysts forecast that Tilray Brands, Inc. will post -0.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Hilton Head Capital Partners LLC purchased a new position in shares of Tilray Brands in the fourth quarter valued at approximately $38,000. Schonfeld Strategic Advisors LLC boosted its stake in shares of Tilray Brands by 4.5% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 144,358 shares of the company's stock valued at $1,304,000 after purchasing an additional 6,182 shares during the period. IFP Advisors Inc boosted its stake in shares of Tilray Brands by 14.3% in the fourth quarter. IFP Advisors Inc now owns 60,318 shares of the company's stock valued at $545,000 after purchasing an additional 7,541 shares during the period. Integrated Wealth Concepts LLC raised its holdings in Tilray Brands by 33.8% in the third quarter. Integrated Wealth Concepts LLC now owns 36,977 shares of the company's stock valued at $64,000 after acquiring an additional 9,341 shares in the last quarter. Finally, CreativeOne Wealth LLC raised its holdings in Tilray Brands by 12.2% in the third quarter. CreativeOne Wealth LLC now owns 87,134 shares of the company's stock valued at $151,000 after acquiring an additional 9,452 shares in the last quarter. Hedge funds and other institutional investors own 9.35% of the company's stock.

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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