Tilray Brands (NASDAQ:TLRY) Trading Down 3.9% - Should You Sell?

Key Points

• Tilray Brands' stock dropped 3.9% during mid-day trading, reaching a low of $1.09 with a significant decline in trading volume of 76% compared to the average.
• Wall Street analysts have mixed views on Tilray Brands, with Jefferies Financial Group maintaining a "buy" rating and raising the price target to $2.00, while Wall Street Zen issued a "strong sell" rating.
• Tilray Brands reported a $0.02 earnings per share, beating estimates, but had revenues of $224.54 million, falling short of the expected $250.41 million.

Shares of Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) fell 3.9% during mid-day trading on Wednesday . The company traded as low as $1.09 and last traded at $1.10. 10,184,036 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 42,688,340 shares. The stock had previously closed at $1.14.

Wall Street Analysts Forecast Growth

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

Tilray Brands Stock Down 4.8%

The company has a market cap of $1.19 billion, a price-to-earnings ratio of -0.47 and a beta of 2.01. The firm has a 50-day moving average price of $0.87 and a 200 day moving average price of $0.64. 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 released its quarterly 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 the consensus estimate of $250.41 million. Sell-side analysts predict that Tilray Brands, Inc. will post -0.2 EPS for the current year.

Insider Buying and Selling

In other Tilray Brands news, CEO Irwin D. Simon purchased 165,000 shares of the stock in a transaction that occurred on Wednesday, July 30th. The shares were acquired at an average cost of $0.61 per share, with a total value of $100,650.00. Following the completion of the transaction, the chief executive officer owned 3,941,633 shares in the company, valued at $2,404,396.13. The trade was 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 accessible through the SEC website. Corporate insiders own 0.60% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. J.W. Cole Advisors Inc. boosted its stake in shares of Tilray Brands by 203.2% in the second quarter. J.W. Cole Advisors Inc. now owns 71,890 shares of the company's stock valued at $30,000 after buying an additional 48,177 shares during the period. Cerity Partners LLC acquired a new position in Tilray Brands in the 1st quarter valued at $31,000. Capital Management Associates Inc lifted its position in shares of Tilray Brands by 100.0% during the 1st quarter. Capital Management Associates Inc now owns 50,760 shares of the company's stock valued at $33,000 after acquiring an additional 25,380 shares during the period. Fifth Lane Capital LP lifted its position in shares of Tilray Brands by 400.0% during the 1st quarter. Fifth Lane Capital LP now owns 50,000 shares of the company's stock valued at $33,000 after acquiring an additional 40,000 shares during the period. Finally, Zuckerman Investment Group LLC acquired a new stake in shares of Tilray Brands during the 1st quarter worth $33,000. 9.35% of the stock is owned by institutional investors.

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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