Tilray Brands (NASDAQ:TLRY) Stock Price Down 3.2% – What’s Next?

Tilray Brands, Inc. (NASDAQ:TLRY) was down 3.2% during trading on Monday. The stock traded as low as $2.68 and last traded at $2.72. 3,386,727 shares changed hands during trading, a decline of 20% from the average daily volume of 4,216,637 shares. The stock had previously closed at $2.81.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. 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 research report on Tuesday, July 14th. TD Securities upgraded shares of Tilray Brands to a “strong-buy” rating in a research report on Friday, July 31st. Wall Street Zen downgraded shares of Tilray Brands from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. TD decreased their target price on shares of Tilray Brands from $4.70 to $4.50 and set a “buy” rating on the stock in a report on Monday, October 5th. Finally, Zacks Research lowered shares of Tilray Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 29th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Tilray Brands currently has an average rating of “Hold” and a consensus target price of $5.90.

Tilray Brands Trading Down 3.2%

The firm has a market cap of $401.99 million, a price-to-earnings ratio of -1.94 and a beta of 1.91. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.11 and a current ratio of 1.88. The company has a 50 day moving average price of $3.98 and a 200 day moving average price of $4.77.

Tilray Brands (NASDAQ:TLRY) last issued its quarterly earnings data on Thursday, October 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.16. The firm had revenue of $257.15 million during the quarter, compared to the consensus estimate of $266.26 million. Tilray Brands had a negative return on equity of 10.39% and a negative net margin of 16.91%. On average, research analysts expect that Tilray Brands, Inc. will post -0.52 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Carl Merton bought 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 completion of the purchase, the chief financial officer directly owned 139,753 shares in the company, valued at $645,658.86. This represents a 7.71% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have bought a total of 15,000 shares of company stock worth $69,225 over the last ninety days. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Tilray Brands

Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in shares of Tilray Brands during the second quarter worth approximately $2,073,000. Legal & General Group Plc purchased a new stake in Tilray Brands in the 2nd quarter valued at $381,000. SLT Holdings LLC purchased a new stake in Tilray Brands in the 3rd quarter valued at $247,000. Squarepoint Ops LLC acquired a new stake in Tilray Brands during the 2nd quarter worth $192,000. Finally, Jupiter Topco LLC acquired a new stake in Tilray Brands during the 2nd quarter worth $188,000. 9.35% of the stock is owned by hedge funds and other institutional investors.

About Tilray Brands

Tilray Brands, Inc is a global consumer packaged goods company operating across the cannabis, beverage alcohol, wellness and distribution sectors. Its cannabis business includes adult-use and medical cannabis products such as dried flower, pre-rolls, vapes, concentrates, edibles and beverages, marketed under brands including Good Supply, RIFF and Broken Coast.

The company also owns and operates beverage alcohol businesses, including SweetWater Brewing Company, Montauk Brewing Company, Alpine Beer Company, Green Flash Brewing Co and Blue Point Brewing Company.