Tilray Brands (NASDAQ:TLRY) Stock Price Down 4.1% – Time to Sell?
by Tristan Rich · The Markets DailyTilray Brands, Inc. (NASDAQ:TLRY – Get Free Report)’s stock price fell 4.1% during mid-day trading on Thursday . The company traded as low as $3.93 and last traded at $3.99. 3,981,198 shares were traded during mid-day trading, a decline of 5% from the average daily volume of 4,198,419 shares. The stock had previously closed at $4.16.
Analyst Ratings Changes
Several equities analysts have recently weighed in on TLRY shares. Weiss Ratings lowered shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 13th. TD Cowen cut their price objective 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 lowered their target price on shares of Tilray Brands from $9.50 to $9.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 2nd. Finally, Roth Capital upgraded Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 price target for the company in a research note on Thursday, April 2nd. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Tilray Brands presently has a consensus rating of “Hold” and a consensus price target of $11.00.
Get Our Latest Stock Analysis on TLRY
Tilray Brands Stock Performance
The stock has a market cap of $452.21 million, a price-to-earnings ratio of -0.28 and a beta of 1.89. The firm’s 50-day moving average is $4.79 and its two-hundred day moving average is $6.44. The company has a current ratio of 2.79, a quick ratio of 1.66 and a debt-to-equity ratio of 0.19.
Hedge Funds Weigh In On Tilray Brands
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Tudor Investment Corp ET AL acquired a new stake in shares of Tilray Brands in the third quarter valued at about $518,000. Hillsdale Investment Management Inc. acquired a new position in Tilray Brands during the fourth quarter worth about $4,855,000. IFP Advisors Inc grew its stake in Tilray Brands by 14.3% during the 4th quarter. IFP Advisors Inc now owns 60,318 shares of the company’s stock valued at $545,000 after acquiring an additional 7,541 shares in the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in Tilray Brands during the 4th quarter valued at about $346,000. Finally, Swiss National Bank raised its holdings in Tilray Brands by 4.1% in the 1st quarter. Swiss National Bank now owns 230,503 shares of the company’s stock valued at $1,491,000 after acquiring an additional 9,100 shares during the last quarter. Hedge funds and other institutional investors 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.