Tilray Brands (NASDAQ:TLRY) Trading Down 8.3% - What's Next?

Key Points

• Tilray Brands experienced an 8.3% drop in stock price, trading at $1.54 after reaching a low of $1.52, with a significant increase in trading volume at over 82 million shares.
• Analyst ratings are mixed, with Atb Cap Markets downgrading Tilray to a "strong sell" while Jefferies Financial Group upgraded their price target to $2.00 and maintained a "buy" rating.
• The company reported $0.00 earnings per share for the quarter, surpassing consensus estimates, and revenue of $209.50 million, slightly above analysts' expectations.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) dropped 8.3% during trading on Thursday . The company traded as low as $1.52 and last traded at $1.54. Approximately 82,028,601 shares were traded during mid-day trading, an increase of 65% from the average daily volume of 49,641,086 shares. The stock had previously closed at $1.68.

Analyst Ratings Changes

TLRY has been the topic of a number of research analyst reports. Atb Cap Markets cut shares of Tilray Brands from a "hold" rating to a "strong sell" rating in a report on Thursday, October 9th. Wall Street Zen upgraded shares of Tilray Brands from a "strong sell" rating to a "hold" rating in a report on Saturday, October 11th. Weiss Ratings restated a "sell (d-)" rating on shares of Tilray Brands in a report on Wednesday, October 8th. Jefferies Financial Group upped their price target on shares of Tilray Brands from $1.50 to $2.00 and gave the stock a "buy" rating in a report on Monday, August 25th. Finally, Zelman & Associates restated a "neutral" rating on shares of Tilray Brands in a report on Tuesday, July 29th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $2.00.

Tilray Brands Trading Down 8.3%

The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.56 and a current ratio of 2.62. The company's fifty day simple moving average is $1.31 and its 200-day simple moving average is $0.78. The company has a market capitalization of $1.69 billion, a P/E ratio of -0.68 and a beta of 1.98.

Tilray Brands (NASDAQ:TLRY - Get Free Report) last issued its earnings results on Thursday, October 9th. The company reported $0.00 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $209.50 million for the quarter, compared to analysts' expectations of $205.75 million. Research analysts predict that Tilray Brands, Inc. will post -0.2 earnings per share for the current year.

Insider Transactions at Tilray Brands

In other Tilray Brands news, CEO Irwin D. Simon bought 165,000 shares of the company's stock in a transaction on Wednesday, July 30th. The shares were bought at an average cost of $0.61 per share, for a total transaction of $100,650.00. Following the acquisition, the chief executive officer directly owned 3,941,633 shares in the company, valued at approximately $2,404,396.13. The trade was a 4.37% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.84% of the stock is currently owned by insiders.

Institutional Trading of Tilray Brands

Several hedge funds have recently modified their holdings of TLRY. Garde Capital Inc. purchased a new stake in shares of Tilray Brands during the first quarter valued at about $46,000. Madrona Financial Services LLC lifted its position in shares of Tilray Brands by 42.9% during the first quarter. Madrona Financial Services LLC now owns 100,000 shares of the company's stock valued at $66,000 after buying an additional 30,000 shares during the last quarter. KBC Group NV lifted its position in shares of Tilray Brands by 102.6% during the first quarter. KBC Group NV now owns 77,657 shares of the company's stock valued at $51,000 after buying an additional 39,325 shares during the last quarter. Tradewinds Capital Management LLC lifted its position in shares of Tilray Brands by 2,038.6% during the first quarter. Tradewinds Capital Management LLC now owns 73,460 shares of the company's stock valued at $48,000 after buying an additional 70,025 shares during the last quarter. Finally, Vontobel Holding Ltd. lifted its position in shares of Tilray Brands by 25.8% during the first quarter. Vontobel Holding Ltd. now owns 241,844 shares of the company's stock valued at $159,000 after buying an additional 49,643 shares during the last quarter. 9.35% of the stock is owned by hedge funds and other 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.

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