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

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

Wall Street Analyst Weigh In

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

Tilray Brands Price Performance

The stock has a market cap of $535.27 million, a PE ratio of -3.64 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 has a fifty day moving average of $4.42 and a 200 day moving average of $5.42.

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

Insider Buying and Selling at Tilray Brands

In related news, CFO Carl Merton purchased 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was acquired at an average price of $4.62 per share, with a total value of $46,200.00. Following the completion of the transaction, the chief financial officer owned 139,753 shares of the company’s stock, 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 the SEC website. Insiders have purchased a total of 15,000 shares of company stock worth $69,225 over the last three months. 0.84% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Hillsdale Investment Management Inc. bought a new stake in shares of Tilray Brands in the 4th quarter worth about $4,855,000. BlackRock Inc. bought a new position in shares of Tilray Brands during the second quarter worth about $2,073,000. Swiss National Bank grew its stake in Tilray Brands by 4.1% in the first quarter. Swiss National Bank now owns 230,503 shares of the company’s stock worth $1,491,000 after purchasing an additional 9,100 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Tilray Brands by 6.1% in the second 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 purchasing an additional 11,894 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in 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 buying an additional 39,801 shares during the last quarter. 9.35% of the stock is currently owned by institutional investors.

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.