Tilray Brands (NASDAQ:TLRY) Trading Down 5.3% - Time to Sell?

Key Points

• Tilray Brands (NASDAQ:TLRY) shares fell 5.3% to $1.60 amid increased trading volume, suggesting a potential sell signal from the market.
• Analysts have mixed opinions on Tilray, with a consensus rating of "Hold" and a price target of $2.00; some firms have downgraded their ratings while others have maintained or upgraded them.
• Despite reporting net revenue of $209.5 million, Tilray Brands had a negative net margin of -258.54% and a P/E ratio of -0.70, indicating ongoing financial challenges.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) shares traded down 5.3% during mid-day trading on Tuesday . The company traded as low as $1.59 and last traded at $1.60. 74,243,650 shares were traded during mid-day trading, an increase of 51% from the average session volume of 49,097,695 shares. The stock had previously closed at $1.69.

Analysts Set New Price Targets

Several research firms recently issued reports on TLRY. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Tilray Brands in a report on Wednesday, October 8th. Zelman & Associates restated a "neutral" rating on shares of Tilray Brands in a research note on Tuesday, July 29th. Atb Cap Markets cut Tilray Brands from a "hold" rating to a "strong sell" rating in a research note on Thursday, October 9th. Wall Street Zen upgraded Tilray Brands from a "strong sell" rating to a "hold" rating in a research note on Saturday. Finally, Jefferies Financial Group upped their price objective on Tilray Brands from $1.50 to $2.00 and gave the company a "buy" rating in a research note on Monday, August 25th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Tilray Brands presently has an average rating of "Hold" and a consensus price target of $2.00.

Tilray Brands Price Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 2.62 and a quick ratio of 1.56. The company has a 50-day simple moving average of $1.26 and a two-hundred day simple moving average of $0.77. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of -0.70 and a beta of 1.98.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last released its quarterly earnings data on Thursday, October 9th. The company reported $0.00 earnings per share for the quarter, topping analysts' consensus estimates of ($0.03) by $0.03. Tilray Brands had a negative net margin of 258.54% and a negative return on equity of 6.79%. The business had revenue of $209.50 million for the quarter, compared to analysts' expectations of $205.75 million. On average, equities research analysts predict that Tilray Brands, Inc. will post -0.2 earnings per share for the current year.

Insider Buying and Selling

In other Tilray Brands news, CEO Irwin D. Simon bought 165,000 shares of the stock in a transaction that occurred on Wednesday, July 30th. The shares were purchased at an average cost of $0.61 per share, for a total transaction of $100,650.00. Following the transaction, the chief executive officer directly 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.84% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Tidal Investments LLC grew its stake in shares of Tilray Brands by 15.0% in the 2nd quarter. Tidal Investments LLC now owns 28,971,835 shares of the company's stock worth $12,006,000 after purchasing an additional 3,776,410 shares during the last quarter. Ausdal Financial Partners Inc. acquired a new position in Tilray Brands in the second quarter worth approximately $939,000. AQR Capital Management LLC grew 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 buying an additional 575,757 shares during the last quarter. XTX Topco Ltd acquired a new position in Tilray Brands in the second quarter worth approximately $112,000. Finally, Quinn Opportunity Partners LLC grew its holdings in shares of Tilray Brands by 11.6% in the 2nd quarter. Quinn Opportunity Partners LLC now owns 1,918,080 shares of the company's stock worth $795,000 after acquiring an additional 200,000 shares during the last quarter. 9.35% of the stock is owned by institutional investors and hedge funds.

About Tilray Brands

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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