Tilray Brands (NASDAQ:TLRY) Stock Price Down 2.7% – What’s Next?

Tilray Brands, Inc. (NASDAQ:TLRY) shares were down 2.7% during mid-day trading on Monday. The company traded as low as $3.98 and last traded at $4.02. Approximately 3,768,564 shares were traded during mid-day trading, a decline of 10% from the average daily volume of 4,183,427 shares. The stock had previously closed at $4.13.

Analysts Set New Price Targets

A number of research analysts recently weighed in on TLRY shares. ATB Cormark Capital Markets decreased their target price on Tilray Brands from $8.00 to $6.00 and set a “hold” rating on the stock in a report on Monday, September 21st. TD Securities upgraded shares of Tilray Brands to a “strong-buy” rating in a research note on Friday, July 31st. TD Cowen lowered their price target 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. Wall Street Zen downgraded shares of Tilray Brands from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Finally, Weiss Ratings cut Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, September 21st. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $7.00.

Tilray Brands Trading Down 2.7%

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 business’s 50-day moving average price is $4.37 and its two-hundred day moving average price is $5.23. The company has a market capitalization of $547.52 million, a price-to-earnings ratio of -3.72 and a beta of 1.92.

Tilray Brands (NASDAQ:TLRY) last issued its quarterly earnings results on Tuesday, July 28th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.42). The company 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%. Research analysts predict that Tilray Brands, Inc. will post -0.42 earnings per share for the current year.

Insider Buying and Selling at Tilray Brands

In related news, CFO Carl Merton bought 10,000 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was purchased at an average cost of $4.62 per share, for a total transaction 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders acquired 15,000 shares of company stock worth $69,225. Corporate insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Hilton Head Capital Partners LLC bought a new stake in Tilray Brands during the fourth quarter worth about $38,000. Integrated Wealth Concepts LLC acquired a new position in shares of Tilray Brands in the 2nd quarter valued at approximately $27,000. Essential Partners LLC lifted its holdings in shares of Tilray Brands by 110,137.5% during the 1st quarter. Essential Partners LLC now owns 8,819 shares of the company’s stock worth $57,000 after acquiring an additional 8,811 shares during the period. Deutsche Bank AG acquired a new stake in shares of Tilray Brands during the 2nd quarter worth approximately $44,000. Finally, Corient Private Wealth LP bought a new position in Tilray Brands in the second quarter valued at approximately $53,000. Institutional investors and hedge funds own 9.35% of the company’s stock.

Tilray Brands Company Profile

Tilray Brands, Inc is a global consumer packaged goods company headquartered in New York. Its operations span cannabis, beverage alcohol, wellness products and related consumer brands. The company develops, produces, markets and distributes cannabis products, including dried flower, pre-rolls, vapes, concentrates, edibles and medical cannabis, where permitted by local regulations.

Tilray also operates a beverage alcohol platform that includes beer, spirits and other alcoholic beverages.