Tilray Brands (NASDAQ:TLRY) Trading Down 4.1% – Here’s What Happened

Tilray Brands, Inc. (NASDAQ:TLRY) shares traded down 4.1% on Monday . The company traded as low as $4.47 and last traded at $4.48. Approximately 3,116,181 shares traded hands during trading, a decline of 28% from the average daily volume of 4,307,043 shares. The stock had previously closed at $4.67.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on TLRY shares. Wall Street Zen lowered Tilray Brands from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. TD Securities raised Tilray Brands to a “strong-buy” rating in a research note on Friday, July 31st. Weiss Ratings reiterated a “sell (e+)” rating on shares of Tilray Brands in a research report on Friday, August 7th. Finally, TD Cowen decreased their price target on Tilray Brands from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Tilray Brands has a consensus rating of “Moderate Buy” and an average price target of $11.00.

Tilray Brands Stock Performance

The company’s 50-day moving average price is $4.52 and its two-hundred day moving average price is $5.91. The company has a market cap of $610.18 million, a P/E ratio of -4.15 and a beta of 1.90. The company has a current ratio of 2.21, a quick ratio of 1.37 and a debt-to-equity ratio of 0.22.

Tilray Brands (NASDAQ:TLRY) last released its quarterly earnings results on Tuesday, July 28th. The company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.42). The company had revenue of $281.71 million during 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%. As a group, equities analysts forecast that Tilray Brands, Inc. will post -0.4 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Carl A. Merton acquired 10,000 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were purchased at an average price of $4.62 per share, for a total transaction of $46,200.00. Following the purchase, the chief financial officer owned 139,753 shares in the company, valued at $645,658.86. This represents a 7.71% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders have purchased 15,000 shares of company stock valued at $69,225. 0.84% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tilray Brands

A number of institutional investors have recently modified their holdings of TLRY. Hilton Head Capital Partners LLC acquired a new position in shares of Tilray Brands in the fourth quarter worth $38,000. Essential Partners LLC grew 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 purchasing an additional 8,811 shares in the last quarter. Deutsche Bank AG acquired a new position in Tilray Brands in the 2nd quarter worth about $44,000. Engineers Gate Manager LP acquired a new position in Tilray Brands in the 4th quarter worth about $126,000. Finally, R Squared Ltd acquired a new position in Tilray Brands in the 1st quarter worth about $94,000. Institutional investors and hedge funds own 9.35% of the company’s stock.

About Tilray Brands

Tilray Brands, Inc is a global cannabis-lifestyle and consumer packaged goods company engaged in the cultivation, production, distribution and sale of cannabis and cannabinoid-based products. The company develops and markets a diverse portfolio of branded products spanning medical cannabis, adult-use recreational products and wellness offerings. Through state-of-the-art cultivation facilities, research and development efforts, and quality control systems, Tilray Brands aims to deliver consistent, scalable products for a range of patient and consumer needs.

Tilray’s product lineup includes cannabis flower, pre-rolls, oils and tinctures, vapes, edibles and topicals, as well as hemp-derived cannabidiol (CBD) products.