Tilray Brands (NASDAQ:TLRY) Shares Down 4.6% – Here’s What Happened

by · The Cerbat Gem

Tilray Brands, Inc. (NASDAQ:TLRY – Get Free Report) was down 4.6% during mid-day trading on Monday . The company traded as low as $1.01 and last traded at $1.03. Approximately 48,326,110 shares traded hands during mid-day trading, a decline of 3% from the average daily volume of 49,927,172 shares. The stock had previously closed at $1.08.

Wall Street Analysts Forecast Growth

A number of analysts have commented on TLRY shares. Atb Cap Markets downgraded Tilray Brands from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 9th. Zelman & Associates reiterated a “neutral” rating on shares of Tilray Brands in a research report on Tuesday, July 29th. Wall Street Zen upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Saturday, October 11th. Jefferies Financial Group lifted their price objective on shares of Tilray Brands from $1.50 to $2.00 and gave the company a “buy” rating in a research note on Monday, August 25th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Tilray Brands in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $2.00.

Check Out Our Latest Stock Analysis on Tilray Brands

Tilray Brands Trading Down 4.6%

The company has a current ratio of 2.62, a quick ratio of 1.56 and a debt-to-equity ratio of 0.15. The business has a 50-day simple moving average of $1.39 and a 200-day simple moving average of $0.92.

Hedge Funds Weigh In On Tilray Brands

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TLRY. Oppenheimer & Co. Inc. purchased a new stake in shares of Tilray Brands during the third quarter worth about $25,000. Silverlake Wealth Management LLC acquired a new stake in Tilray Brands in the 3rd quarter worth about $25,000. Unified Investment Management purchased a new stake in Tilray Brands during the 3rd quarter worth approximately $26,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Tilray Brands during the third quarter valued at approximately $30,000. Finally, HighPoint Advisor Group LLC purchased a new position in shares of Tilray Brands in the third quarter valued at approximately $33,000. 9.35% of the stock is owned by hedge funds and other institutional investors.

About Tilray Brands

(Get Free Report)

Tilray, Inc engages in the research, cultivation, processing, and distribution of medical cannabis. The company offers its products in Argentina, Australia, Canada, Chile, Croatia, Cyprus, the Czech Republic, Germany, New Zealand, and South Africa. Tilray, Inc is headquartered in Canada.

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