Tilray Brands (NASDAQ:TLRY) Trading Down 7.5% - Time to Sell?

Key Points

• Tilray Brands' stock fell by 7.5%, trading as low as $1.02, with a significant drop in trading volume compared to its average.
• Analysts have mixed views on Tilray, with one rating it as a "strong sell" and an average price target of $1.92 amidst a current "Hold" rating consensus.
• CEO Irwin D. Simon purchased 165,000 shares at $0.61 each, indicative of insider confidence despite overall company challenges, including a negative net margin of 265.69%.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s stock price traded down 7.5% during mid-day trading on Tuesday . The stock traded as low as $1.02 and last traded at $1.06. 21,828,448 shares changed hands during trading, a decline of 46% from the average session volume of 40,570,625 shares. The stock had previously closed at $1.14.

Analyst Ratings Changes

A number of analysts have recently weighed in on TLRY shares. Zelman & Associates reissued a "neutral" rating on shares of Tilray Brands in a research report on Tuesday, July 29th. Wall Street Zen downgraded shares of Tilray Brands to a "strong sell" rating in a research note on Saturday, July 5th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $1.92.

Tilray Brands Price Performance

The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.49 and a current ratio of 2.46. The business's 50 day simple moving average is $0.61 and its 200-day simple moving average is $0.61. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of -0.46 and a beta of 1.85.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last posted its earnings results on Monday, July 28th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.05. Tilray Brands had a negative net margin of 265.69% and a negative return on equity of 6.83%. The company had revenue of $224.54 million during the quarter, compared to the consensus estimate of $250.41 million. Research analysts anticipate that Tilray Brands, Inc. will post -0.2 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Irwin D. Simon purchased 165,000 shares of the company's stock in a transaction on Wednesday, July 30th. The shares were purchased 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 of the company's stock, valued at $2,404,396.13. The trade was a 4.37% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.60% of the company's stock.

Institutional Investors Weigh In On Tilray Brands

Several institutional investors and hedge funds have recently bought and sold shares of TLRY. Tidal Investments LLC raised its holdings in Tilray Brands by 15.0% in the 2nd quarter. Tidal Investments LLC now owns 28,971,835 shares of the company's stock valued at $12,006,000 after buying an additional 3,776,410 shares during the last quarter. Ausdal Financial Partners Inc. acquired a new stake in Tilray Brands in the 2nd quarter valued at $939,000. Dimensional Fund Advisors LP grew its position in Tilray Brands by 54.8% in the 4th 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 period. Millennium Management LLC bought a new position in Tilray Brands during the 4th quarter valued at $879,000. Finally, AQR Capital Management LLC increased its holdings in Tilray Brands by 1,839.7% in the 1st quarter. AQR Capital Management LLC now owns 607,054 shares of the company's stock worth $399,000 after acquiring an additional 575,757 shares during the last quarter. Institutional investors own 9.35% of the company's stock.

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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