Tilray Brands (NASDAQ:TLRY) Stock Falls 1.7% Following Analyst Downgrade

Tilray Brands, Inc. (NASDAQ:TLRY)’s share price traded down 1.7% during trading on Tuesday after Zacks Research downgraded the stock from a hold rating to a strong sell rating. The stock traded as low as $3.94 and last traded at $3.95. 3,037,652 shares were traded during trading, a decline of 27% from the average session volume of 4,178,455 shares. The stock had previously closed at $4.02.

Other research analysts have also recently issued reports about the company. TD Securities raised Tilray Brands to a “strong-buy” rating in a report on Friday, July 31st. TD Cowen cut their price target on shares of Tilray Brands from $7.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, July 14th. ATB Cormark Capital Markets dropped their price objective on shares of Tilray Brands from $8.00 to $6.00 and set a “hold” rating for the company in a report on Monday, September 21st. Weiss Ratings cut shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, September 21st. Finally, Wall Street Zen downgraded Tilray Brands from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $7.00.

Insider Activity

In related news, CFO Carl Merton purchased 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The shares were acquired 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 directly owned 139,753 shares of the company’s stock, valued at $645,658.86. This trade represents a 7.71% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have purchased 15,000 shares of company stock worth $69,225 in the last quarter. 0.84% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Engineers Gate Manager LP increased its stake in shares of Tilray Brands by 124.1% in the 2nd quarter. Engineers Gate Manager LP now owns 60,839 shares of the company’s stock valued at $273,000 after buying an additional 33,688 shares during the period. Integrated Wealth Concepts LLC acquired a new position in shares of Tilray Brands during the second quarter valued at $27,000. Squarepoint Ops LLC bought a new position in Tilray Brands in the second quarter valued at about $192,000. Amundi bought a new position in Tilray Brands in the second quarter valued at about $131,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Tilray Brands in the second quarter worth about $75,000. Institutional investors and hedge funds own 9.35% of the company’s stock.

Tilray Brands Price Performance

The stock has a market capitalization of $486.92 million, a P/E ratio of -3.30 and a beta of 1.92. The company has a current ratio of 2.21, a quick ratio of 1.37 and a debt-to-equity ratio of 0.22. The company has a fifty day simple moving average of $4.35 and a two-hundred day simple moving average of $5.16.

Tilray Brands (NASDAQ:TLRY) last issued its earnings results 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 net margin of 13.11% and a negative return on equity of 7.76%. The business had revenue of $281.71 million during the quarter, compared to the consensus estimate of $246.30 million. Sell-side analysts expect that Tilray Brands, Inc. will post -0.42 EPS for the current fiscal year.

Tilray Brands Company Profile

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.