Tilray Brands (NASDAQ:TLRY) Trading Down 2.9% – Here’s Why

Tilray Brands, Inc. (NASDAQ:TLRY)’s stock price was down 2.9% on Friday . The company traded as low as $4.00 and last traded at $4.02. Approximately 3,962,935 shares changed hands during mid-day 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

A number of analysts have weighed in on TLRY shares. TD Cowen lowered their target price on Tilray Brands from $7.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, July 14th. TD Securities upgraded Tilray Brands to a “strong-buy” rating in a research note on Friday, July 31st. Weiss Ratings upgraded shares of Tilray Brands from a “sell (e+)” rating to a “sell (d-)” rating in a 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 analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Tilray Brands has a consensus rating of “Hold” and a consensus target price of $8.00.

Tilray Brands Stock Performance

The company has a debt-to-equity ratio of 0.22, a current ratio of 2.21 and a quick ratio of 1.37. The firm has a market cap of $547.52 million, a price-to-earnings ratio of -3.72 and a beta of 1.92. The firm has a fifty day simple moving average of $4.43 and a two-hundred day simple moving average of $5.49.

Tilray Brands (NASDAQ:TLRY) last announced its quarterly earnings data on Tuesday, July 28th. The company reported ($0.43) EPS 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 company had revenue of $281.71 million during the quarter, compared to analysts’ expectations of $246.30 million. On average, analysts expect that Tilray Brands, Inc. will post -0.42 EPS for the current year.

Insider Transactions at Tilray Brands

In other news, CFO Carl Merton purchased 10,000 shares of the 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 transaction, the chief financial officer owned 139,753 shares in the company, valued at $645,658.86. The trade was a 7.71% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders acquired 15,000 shares of company stock valued at $69,225. Company insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Hilton Head Capital Partners LLC purchased a new stake in shares of Tilray Brands in the fourth quarter valued at approximately $38,000. Pictet Asset Management Holding SA lifted its position in shares of Tilray Brands by 38.9% during the 1st quarter. Pictet Asset Management Holding SA now owns 18,387 shares of the company’s stock valued at $119,000 after buying an additional 5,145 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Tilray Brands during the 2nd quarter valued at approximately $27,000. Schonfeld Strategic Advisors LLC grew its stake in Tilray Brands by 4.5% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 144,358 shares of the company’s stock valued at $1,304,000 after acquiring an additional 6,182 shares during the period. Finally, Baader Bank Aktiengesellschaft grew its stake in Tilray Brands by 17.7% in the 1st quarter. Baader Bank Aktiengesellschaft now owns 47,938 shares of the company’s stock valued at $293,000 after acquiring an additional 7,226 shares during the period. 9.35% of the stock is currently owned by hedge funds and other institutional investors.

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.