Tilray Brands (NASDAQ:TLRY) Stock Price 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)'s share price was down 5.8% on Friday . The company traded as low as $1.37 and last traded at $1.39. Approximately 20,235,775 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 42,495,707 shares. The stock had previously closed at $1.47.

Analyst Ratings Changes

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

Tilray Brands Trading Down 9.4%

The business's 50 day simple moving average is $0.78 and its 200-day simple moving average is $0.63. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.46 and a quick ratio of 1.49. The stock has a market capitalization of $1.38 billion, a P/E ratio of -0.54 and a beta of 2.01.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The company reported $0.02 earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $224.54 million for the quarter, compared to the consensus estimate of $250.41 million. As a group, analysts forecast that Tilray Brands, Inc. will post -0.2 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Irwin D. Simon bought 165,000 shares of Tilray Brands stock in a transaction on Wednesday, July 30th. The shares were purchased at an average price of $0.61 per share, for a total transaction of $100,650.00. Following the completion of the acquisition, the chief executive officer owned 3,941,633 shares in the company, valued at approximately $2,404,396.13. This represents a 4.37% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.60% of the company's stock.

Institutional Trading of Tilray Brands

A number of institutional investors and hedge funds have recently modified their holdings of TLRY. Tidal Investments LLC boosted its stake in Tilray Brands by 15.0% during the 2nd quarter. Tidal Investments LLC now owns 28,971,835 shares of the company's stock worth $12,006,000 after acquiring an additional 3,776,410 shares during the last quarter. Ausdal Financial Partners Inc. acquired a new stake in Tilray Brands in the second quarter worth $939,000. Dimensional Fund Advisors LP boosted its position in shares of Tilray Brands by 54.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company's stock worth $2,890,000 after purchasing an additional 769,569 shares in the last quarter. Millennium Management LLC acquired a new position in shares of Tilray Brands in the 4th quarter valued at $879,000. Finally, AQR Capital Management LLC grew its holdings in shares of Tilray Brands by 1,839.7% in the 1st quarter. AQR Capital Management LLC now owns 607,054 shares of the company's stock valued at $399,000 after buying an additional 575,757 shares during the period. 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.