Tilray Brands, Inc. is facing downward pressure today following a recent price target reduction by a major research firm, which lowered its target by $0.50. This adjustment reflects concerns over Tilray's financial performance, particularly after the company reported revenue of $211 million, missing analyst estimates of $216.3 million. Despite providing a revenue guidance for 2025 that exceeds expectations, the immediate reaction to the earnings miss appears to be weighing on investor sentiment.
On the product front, Tilray's Breckenridge Brewery announced the launch of a new seasonal beer, the Spring Forward Grapefruit IPA. While this introduction aims to tap into the growing craft beer market, the limited release may not significantly impact the company's financials in the long term. The competitive nature of the craft beer industry poses additional challenges, potentially overshadowing the positive aspects of this new product launch.
Tilray's stock is currently trading at $1.16, down 1.83% from the previous close of $1.18. The stock opened at $1.18 and has seen a low of $1.15 and a high of $1.19 so far today. Despite being just 30 minutes into the trading day, the volume is at 7,281,088 shares, representing 22.39% of the average daily volume of 32,525,963 shares, indicating moderate trading activity this morning.