Tilray Brands (NASDAQ:TLRY) Stock Falls 5.3% – Here’s What Happened

Tilray Brands, Inc. (NASDAQ:TLRY) dropped 5.3% on Friday. The company traded as low as $3.03 and last traded at $3.04. Approximately 2,925,854 shares were traded during mid-day trading, a decline of 31% from the average daily volume of 4,226,404 shares. The stock had previously closed at $3.21.

Wall Street Analysts Forecast Growth

TLRY has been the subject of several analyst reports. Zacks Research lowered Tilray Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 29th. Wall Street Zen lowered Tilray Brands from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. TD decreased their price target on Tilray Brands from $4.70 to $4.50 and set a “buy” rating for the company in a research note on Monday, October 5th. Weiss Ratings raised Tilray Brands from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, October 8th. Finally, TD Securities upgraded Tilray Brands to a “strong-buy” rating in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $5.90.

Tilray Brands Stock Down 5.3%

The stock has a market cap of $449.28 million, a price-to-earnings ratio of -2.17 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 stock’s 50-day moving average price is $4.15 and its 200-day moving average price is $4.90.

Tilray Brands (NASDAQ:TLRY) last posted its quarterly earnings data on Thursday, October 8th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $257.15 million for the quarter, compared to analyst estimates of $266.26 million. On average, sell-side analysts expect that Tilray Brands, Inc. will post -0.46 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Carl Merton bought 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were acquired at an average price of $4.62 per share, for a total transaction of $46,200.00. Following the completion of the acquisition, the chief financial officer directly owned 139,753 shares in the company, valued at approximately $645,658.86. This represents a 7.71% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders have acquired a total of 15,000 shares of company stock worth $69,225 over the last ninety days. 1.60% of the stock is owned by company insiders.

Institutional Trading of Tilray Brands

A number of large investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC acquired a new position in shares of Tilray Brands in the 2nd quarter valued at about $27,000. Deutsche Bank AG bought a new stake in Tilray Brands in the second quarter worth approximately $44,000. Corient Private Wealth LP acquired a new position in Tilray Brands in the second quarter valued at approximately $53,000. Essential Partners LLC lifted its stake in Tilray Brands by 110,137.5% in the first quarter. Essential Partners LLC now owns 8,819 shares of the company’s stock valued at $57,000 after buying an additional 8,811 shares during the period. Finally, Centaurus Financial Inc. bought a new position in shares of Tilray Brands during the 2nd quarter worth approximately $58,000. 9.35% of the stock is currently owned by institutional investors and hedge funds.

Tilray Brands Company Profile

Tilray Brands, Inc is a global consumer packaged goods company focused on cannabis, beverage alcohol, wellness and consumer products. The company develops, produces, distributes and markets a range of cannabis products, including dried flower, pre-rolls, vapes, edibles and medical cannabis products, subject to applicable regulations in the markets it serves.

Tilray also operates beverage alcohol businesses, including craft beer, spirits and other alcoholic beverages. Its portfolio has included brands such as SweetWater Brewing Company, Montauk Brewing Company and Breckenridge Distillery.