Tilray Brands (NASDAQ:TLRY) Trading Down 2.9% – What’s Next?

Tilray Brands, Inc. (NASDAQ:TLRY)’s stock price was down 2.9% on Friday . The stock traded as low as $4.00 and last traded at $4.02. Approximately 3,962,935 shares changed hands during trading, a decline of 6% from the average session volume of 4,236,214 shares. The stock had previously closed at $4.14.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. TD Securities raised Tilray Brands to a “strong-buy” rating in a report on Friday, July 31st. TD Cowen lowered their target price on shares of Tilray Brands from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, July 14th. Weiss Ratings raised shares of Tilray Brands from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, August 24th. Finally, Wall Street Zen lowered shares of Tilray Brands from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Tilray Brands presently has an average rating of “Hold” and a consensus target price of $8.00.

Tilray Brands Price Performance

The company has a current ratio of 2.21, a quick ratio of 1.37 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $546.18 million, a price-to-earnings ratio of -3.71 and a beta of 1.92. The company’s 50 day moving average is $4.44 and its 200-day moving average is $5.50.

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 analysts’ consensus estimates of ($0.01) by ($0.42). The business had revenue of $281.71 million for the quarter, compared to analyst estimates of $246.30 million. Tilray Brands had a negative return on equity of 7.76% and a negative net margin of 13.11%. Equities research analysts anticipate that Tilray Brands, Inc. will post -0.42 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Carl Merton acquired 10,000 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was purchased at an average cost of $4.62 per share, with a total value of $46,200.00. Following the acquisition, the chief financial officer directly owned 139,753 shares of the company’s stock, valued at approximately $645,658.86. The trade was a 7.71% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders acquired 15,000 shares of company stock worth $69,225. 0.84% of the stock is owned by company insiders.

Institutional Trading of Tilray Brands

Several large investors have recently modified their holdings of TLRY. Hilton Head Capital Partners LLC acquired a new stake in shares of Tilray Brands during the 4th quarter worth $38,000. Integrated Wealth Concepts LLC acquired a new position in Tilray Brands in the second quarter valued at about $27,000. Essential Partners LLC lifted 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 during the period. Deutsche Bank AG bought a new stake in Tilray Brands during the second quarter worth about $44,000. Finally, Corient Private Wealth LP bought a new stake in Tilray Brands during the second quarter worth about $53,000. 9.35% of the stock is owned by institutional investors and hedge funds.

Tilray Brands Company Profile

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.