Tilray Brands (NASDAQ:TLRY) Stock Price Down 4.7% - Here's What Happened

Key Points

• Tilray Brands stock price has declined by 4.7%, with shares trading as low as $0.66 during the recent trading session.
• Equities research analysts have given Tilray Brands a mixed outlook, with one "strong sell" rating, three "hold" ratings, and one "buy" rating, reflecting an average target price of $1.92.
• Institutional investors have increased their holdings in Tilray Brands, with significant increases from firms like AQR Capital Management and Tidal Investments.
• The company's market capitalization is approximately $661.27 million, and it has a low debt-to-equity ratio of 0.12.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) shares dropped 4.7% on Friday . The stock traded as low as $0.66 and last traded at $0.67. Approximately 13,856,763 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 35,477,633 shares. The stock had previously closed at $0.70.

Analyst Upgrades and Downgrades

TLRY has been the topic of several analyst reports. Roth Capital reaffirmed a "neutral" rating on shares of Tilray Brands in a report on Monday, April 14th. Piper Sandler reduced their target price on shares of Tilray Brands from $2.00 to $1.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 9th. Finally, Wall Street Zen lowered shares of Tilray Brands to a "strong sell" rating in a research note on Saturday, July 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $1.92.

Tilray Brands Stock Up 1.6%

The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.61 and a current ratio of 2.62. The stock has a market capitalization of $704.25 million, a price-to-earnings ratio of -0.67 and a beta of 1.82. The firm's fifty day simple moving average is $0.49 and its 200 day simple moving average is $0.65.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.03) by $0.05. Tilray Brands had a negative net margin of 113.85% and a negative return on equity of 7.40%. On average, sell-side analysts forecast that Tilray Brands, Inc. will post -0.2 earnings per share for the current year.

Institutional Trading of Tilray Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Tidal Investments LLC raised its holdings in shares of Tilray Brands by 9.2% in the fourth quarter. Tidal Investments LLC now owns 10,595,264 shares of the company's stock valued at $14,092,000 after purchasing an additional 889,086 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Tilray Brands by 14.4% in the fourth quarter. Bank of Montreal Can now owns 2,488,982 shares of the company's stock valued at $3,310,000 after purchasing an additional 312,476 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Tilray Brands by 20.1% in the fourth quarter. Geode Capital Management LLC now owns 2,405,911 shares of the company's stock valued at $3,200,000 after purchasing an additional 403,371 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Tilray Brands by 54.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company's stock valued at $2,890,000 after buying an additional 769,569 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Tilray Brands by 17.1% in the fourth 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 buying an additional 286,481 shares in the last quarter. 9.35% of the stock is currently owned by institutional investors and hedge funds.

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.