Tilray Brands (NASDAQ:TLRY) Shares Down 3.2% – What’s Next?

Tilray Brands, Inc. (NASDAQ:TLRY)’s stock price fell 3.2% during trading on Monday. The company traded as low as $2.68 and last traded at $2.72. 3,386,727 shares changed hands during mid-day trading, a decline of 20% from the average daily volume of 4,216,637 shares. The stock had previously closed at $2.81.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on TLRY shares. Wall Street Zen lowered Tilray Brands from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. ATB Cormark Capital Markets reduced their price objective on Tilray Brands from $8.00 to $6.00 and set a “hold” rating for the company in a research note on Monday, September 21st. TD decreased their price objective on Tilray Brands from $4.70 to $4.50 and set a “buy” rating for the company in a research report on Monday, October 5th. TD Securities upgraded Tilray Brands to a “strong-buy” rating in a research note on Friday, July 31st. Finally, Zacks Research lowered Tilray Brands from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 29th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Tilray Brands has a consensus rating of “Hold” and a consensus price target of $5.90.

Tilray Brands Price Performance

The company has a market cap of $401.99 million, a price-to-earnings ratio of -1.94 and a beta of 1.91. The company has a current ratio of 1.88, a quick ratio of 1.11 and a debt-to-equity ratio of 0.17. The company’s 50 day moving average price is $3.98 and its 200 day moving average price is $4.77.

Tilray Brands (NASDAQ:TLRY) last issued its earnings results on Thursday, October 8th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.16. Tilray Brands had a negative net margin of 16.91% and a negative return on equity of 10.39%. The business had revenue of $257.15 million for the quarter, compared to the consensus estimate of $266.26 million. Equities research analysts forecast that Tilray Brands, Inc. will post -0.52 earnings per share for the current year.

Insider Buying and Selling

In other Tilray Brands news, CFO Carl Merton acquired 10,000 shares of the stock in a transaction on Tuesday, August 4th. The shares were bought at an average price of $4.62 per share, with a total value of $46,200.00. Following the acquisition, the chief financial officer owned 139,753 shares of the company’s stock, valued at $645,658.86. This trade represents 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 accessible through this link. Insiders have bought a total of 15,000 shares of company stock valued at $69,225 in the last three months. 1.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tilray Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in TLRY. Pictet Asset Management Holding SA increased its position in shares of Tilray Brands by 38.9% during the first quarter. Pictet Asset Management Holding SA now owns 18,387 shares of the company’s stock worth $119,000 after acquiring an additional 5,145 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in Tilray Brands in the second quarter worth about $27,000. Baader Bank Aktiengesellschaft raised its position in shares of Tilray Brands by 17.7% during the 1st quarter. Baader Bank Aktiengesellschaft now owns 47,938 shares of the company’s stock worth $293,000 after purchasing an additional 7,226 shares during the period. Essential Partners LLC lifted its holdings in shares of Tilray Brands by 110,137.5% in the 1st 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 last quarter. Finally, Swiss National Bank lifted its holdings in shares of Tilray Brands by 4.1% in the 1st quarter. Swiss National Bank now owns 230,503 shares of the company’s stock worth $1,491,000 after purchasing an additional 9,100 shares during the last quarter. Institutional investors and hedge funds own 9.35% of the company’s stock.

About Tilray Brands

Tilray Brands, Inc is a global consumer packaged goods company operating across the cannabis, beverage alcohol, wellness and distribution sectors. Its cannabis business includes adult-use and medical cannabis products such as dried flower, pre-rolls, vapes, concentrates, edibles and beverages, marketed under brands including Good Supply, RIFF and Broken Coast.

The company also owns and operates beverage alcohol businesses, including SweetWater Brewing Company, Montauk Brewing Company, Alpine Beer Company, Green Flash Brewing Co and Blue Point Brewing Company.