Tilray Brands (NASDAQ:TLRY) Trading Down 3.6% – Here’s Why

Tilray Brands, Inc. (NASDAQ:TLRY) was down 3.6% during mid-day trading on Tuesday . The stock traded as low as $3.98 and last traded at $3.99. 3,194,654 shares changed hands during mid-day trading, a decline of 25% from the average session volume of 4,233,823 shares. The stock had previously closed at $4.14.

Analysts Set New Price Targets

TLRY has been the subject of a number of recent research reports. TD Securities raised shares of 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 research report on Monday, August 24th. Wall Street Zen downgraded Tilray Brands from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Finally, TD Cowen cut their target price on Tilray Brands from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $8.00.

Tilray Brands Trading Up 0.6%

The company has a market capitalization of $538.67 million, a P/E ratio of -3.66 and a beta of 1.92. 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 $4.41 and its two-hundred day moving average price is $5.39.

Tilray Brands (NASDAQ:TLRY) last posted its 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). Tilray Brands had a negative net margin of 13.11% and a negative return on equity of 7.76%. The business had revenue of $281.71 million during the quarter, compared to analyst estimates of $246.30 million. As a group, analysts forecast that Tilray Brands, Inc. will post -0.42 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Carl Merton bought 10,000 shares of Tilray Brands stock in a transaction that occurred 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 purchase, the chief financial officer owned 139,753 shares in the company, valued at approximately $645,658.86. This trade represents a 7.71% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have acquired 15,000 shares of company stock valued at $69,225. 0.84% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Hillsdale Investment Management Inc. bought a new stake in shares of Tilray Brands in the fourth quarter worth $4,855,000. BlackRock Inc. acquired a new stake in Tilray Brands in the 2nd quarter valued at $2,073,000. Swiss National Bank lifted its position in Tilray Brands by 4.1% during the 1st quarter. Swiss National Bank now owns 230,503 shares of the company’s stock worth $1,491,000 after buying an additional 9,100 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Tilray Brands by 6.1% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 208,229 shares of the company’s stock worth $935,000 after buying an additional 11,894 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Tilray Brands by 82.9% in the first quarter. Dimensional Fund Advisors LP now owns 87,803 shares of the company’s stock valued at $568,000 after acquiring an additional 39,801 shares during the last quarter. 9.35% of the stock is owned by institutional investors and hedge funds.

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.