Tilray Brands (NASDAQ:TLRY) Trading Down 5.8% - Time to Sell?

Key Points

• Tilray Brands' stock experienced a significant decline of 5.8%, closing at $1.39 after trading as low as $1.37, with a trading volume drop of 52% compared to the average session.
• Analysts have mixed perspectives on Tilray, with Jefferies upgrading the stock to a "buy" with a price target increase to $2.00, while Wall Street Zen issued a "strong sell" rating.
• CEO Irwin D. Simon increased his stake by acquiring 165,000 shares at an average price of $0.61, indicating confidence in the company amidst fluctuating analyst ratings.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) fell 5.8% during mid-day trading on Friday . The stock traded as low as $1.37 and last traded at $1.39. 20,235,775 shares were traded during mid-day trading, a decline of 52% from the average session volume of 42,495,707 shares. The stock had previously closed at $1.47.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TLRY. Jefferies Financial Group raised their price target on shares of Tilray Brands from $1.50 to $2.00 and gave the stock a "buy" rating in a research report on Monday. Zelman & Associates reissued a "neutral" rating on shares of Tilray Brands in a report on Tuesday, July 29th. Finally, Wall Street Zen downgraded shares of Tilray Brands to a "strong sell" rating in a research note on Saturday, July 5th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Tilray Brands presently has an average rating of "Hold" and an average target price of $1.94.

Tilray Brands Price Performance

The company has a market cap of $1.52 billion, a price-to-earnings ratio of -0.60 and a beta of 1.85. The company has a quick ratio of 1.49, a current ratio of 2.46 and a debt-to-equity ratio of 0.20. The company's fifty day moving average price is $0.74 and its two-hundred day moving average price is $0.63.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The company reported $0.02 EPS for the quarter, topping analysts' consensus estimates of ($0.03) by $0.05. The business had revenue of $224.54 million for the quarter, compared to analyst estimates of $250.41 million. Tilray Brands had a negative net margin of 265.69% and a negative return on equity of 6.83%. On average, equities research analysts forecast that Tilray Brands, Inc. will post -0.2 EPS for the current fiscal year.

Insider Transactions at Tilray Brands

In related news, CEO Irwin D. Simon acquired 165,000 shares of the firm's stock in a transaction 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 completion of the acquisition, the chief executive officer directly owned 3,941,633 shares in the company, valued at approximately $2,404,396.13. This trade represents a 4.37% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.60% of the company's stock.

Hedge Funds Weigh In On Tilray Brands

Several institutional investors and hedge funds have recently modified their holdings of the stock. Tidal Investments LLC increased its holdings in shares of Tilray Brands by 15.0% in the second quarter. Tidal Investments LLC now owns 28,971,835 shares of the company's stock valued at $12,006,000 after purchasing an additional 3,776,410 shares during the last quarter. Ausdal Financial Partners Inc. acquired a new position in shares of Tilray Brands in the second quarter valued at $939,000. Dimensional Fund Advisors LP increased its holdings 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 purchasing an additional 769,569 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings 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 purchasing an additional 286,481 shares during the last quarter. Finally, Swiss National Bank grew its stake in shares of Tilray Brands by 6.1% in the second quarter. Swiss National Bank now owns 1,928,138 shares of the company's stock valued at $799,000 after acquiring an additional 111,500 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.

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