Tilray Brands (NASDAQ:TLRY) Shares Down 3.3% – What’s Next?

Tilray Brands, Inc. (NASDAQ:TLRY) shares fell 3.3% during mid-day trading on Monday . The company traded as low as $4.33 and last traded at $4.42. 3,767,630 shares were traded during trading, a decline of 13% from the average daily volume of 4,330,846 shares. The stock had previously closed at $4.57.

Analyst Ratings Changes

TLRY has been the subject of several recent research reports. TD Securities raised shares of Tilray Brands to a “strong-buy” rating in a report on Friday, July 31st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Tilray Brands in a research report on Friday. TD Cowen cut their price target on Tilray Brands from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, July 14th. Finally, Wall Street Zen lowered Tilray Brands from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $11.00.

Tilray Brands Trading Down 0.4%

The firm has a market cap of $648.33 million, a PE ratio of -4.41 and a beta of 1.90. The company has a 50-day simple moving average of $4.55 and a 200 day simple moving average of $6.00. The company has a current ratio of 2.21, a quick ratio of 1.37 and a debt-to-equity ratio of 0.22.

Tilray Brands (NASDAQ:TLRY) last posted its earnings results on Tuesday, July 28th. The company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.42). Tilray Brands had a negative net margin of 13.11% and a negative return on equity of 7.76%. The firm had revenue of $281.71 million for the quarter, compared to analysts’ expectations of $246.30 million. As a group, sell-side analysts forecast that Tilray Brands, Inc. will post -0.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Carl A. Merton acquired 10,000 shares of the business’s stock in a transaction on Tuesday, August 4th. The stock was bought at an average price of $4.62 per share, with a total value of $46,200.00. Following the completion of the acquisition, the chief financial officer owned 139,753 shares of the company’s stock, valued at approximately $645,658.86. This represents a 7.71% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have acquired a total of 15,000 shares of company stock worth $69,225 in the last quarter. 0.84% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tilray Brands

Institutional investors have recently modified their holdings of the business. Hilton Head Capital Partners LLC acquired a new position in Tilray Brands in the 4th quarter worth about $38,000. Essential Partners LLC boosted its position in Tilray Brands by 110,137.5% during the first quarter. Essential Partners LLC now owns 8,819 shares of the company’s stock worth $57,000 after purchasing an additional 8,811 shares in the last quarter. Deutsche Bank AG acquired a new stake in Tilray Brands in the second quarter valued at approximately $44,000. Engineers Gate Manager LP acquired a new stake in Tilray Brands in the fourth quarter valued at approximately $126,000. Finally, R Squared Ltd purchased a new stake in shares of Tilray Brands in the first quarter valued at approximately $94,000. 9.35% of the stock is currently owned by institutional investors and hedge funds.

About Tilray Brands

Tilray Brands, Inc is a global cannabis-lifestyle and consumer packaged goods company engaged in the cultivation, production, distribution and sale of cannabis and cannabinoid-based products. The company develops and markets a diverse portfolio of branded products spanning medical cannabis, adult-use recreational products and wellness offerings. Through state-of-the-art cultivation facilities, research and development efforts, and quality control systems, Tilray Brands aims to deliver consistent, scalable products for a range of patient and consumer needs.

Tilray’s product lineup includes cannabis flower, pre-rolls, oils and tinctures, vapes, edibles and topicals, as well as hemp-derived cannabidiol (CBD) products.