Tilray Brands (NASDAQ:TLRY) Stock Price Down 1.5% – What’s Next?

Tilray Brands, Inc. (NASDAQ:TLRY) shares fell 1.5% on Wednesday . The stock traded as low as $3.87 and last traded at $3.93. 3,732,652 shares were traded during trading, a decline of 12% from the average session volume of 4,231,328 shares. The stock had previously closed at $3.99.

Analysts Set New Price Targets

Several brokerages have commented on TLRY. Wall Street Zen downgraded shares of Tilray Brands from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Weiss Ratings raised Tilray Brands from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, August 24th. TD Cowen dropped their price objective on Tilray Brands from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Tuesday, July 14th. Finally, TD Securities raised Tilray Brands to a “strong-buy” rating in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $8.00.

Tilray Brands Stock Up 0.3%

The firm’s fifty day moving average price is $4.40 and its 200-day moving average price is $5.36. The company has a market capitalization of $536.63 million, a price-to-earnings ratio of -3.65 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.

Tilray Brands (NASDAQ:TLRY) last released its quarterly earnings data on Tuesday, July 28th. The company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.42). The firm had revenue of $281.71 million for the quarter, compared to analyst estimates of $246.30 million. Tilray Brands had a negative net margin of 13.11% and a negative return on equity of 7.76%. Sell-side analysts expect that Tilray Brands, Inc. will post -0.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Carl Merton purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, August 4th. The shares were purchased at an average cost of $4.62 per share, with a total value of $46,200.00. Following the completion of the purchase, 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 position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders bought 15,000 shares of company stock valued at $69,225 in the last ninety days. 0.84% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Hilton Head Capital Partners LLC bought a new position in shares of Tilray Brands in the fourth quarter worth $38,000. Pictet Asset Management Holding SA raised its stake 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 purchasing an additional 5,145 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in Tilray Brands during the 2nd quarter worth about $27,000. Baader Bank Aktiengesellschaft lifted its holdings in 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 in the last quarter. Finally, IFP Advisors Inc boosted its stake in Tilray Brands by 14.3% in the 4th quarter. IFP Advisors Inc now owns 60,318 shares of the company’s stock worth $545,000 after purchasing an additional 7,541 shares during the period. 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 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.