Tilray Brands (NASDAQ:TLRY) Stock Price Down 7.6% – Time to Sell?

by · The Cerbat Gem

Shares of Tilray Brands, Inc. (NASDAQ:TLRY – Get Free Report) dropped 7.6% during trading on Wednesday . The stock traded as low as $12.73 and last traded at $12.88. Approximately 29,660,895 shares traded hands during mid-day trading, an increase of 409% from the average daily volume of 5,822,890 shares. The stock had previously closed at $13.94.

Analyst Ratings Changes

Several equities research analysts have commented on TLRY shares. Atb Cap Markets upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tilray Brands in a research note on Wednesday, October 8th. Jefferies Financial Group increased their price objective on Tilray Brands from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, August 25th. Finally, Wall Street Zen upgraded Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Saturday, October 11th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $20.00.

Read Our Latest Stock Report on Tilray Brands

Tilray Brands Trading Down 7.6%

The firm’s 50-day simple moving average is $12.10 and its 200-day simple moving average is $9.87. The firm has a market capitalization of $1.45 billion, a PE ratio of -0.57 and a beta of 1.76. The company has a quick ratio of 1.56, a current ratio of 2.62 and a debt-to-equity ratio of 0.15.

Hedge Funds Weigh In On Tilray Brands

Large investors have recently bought and sold shares of the stock. Baader Bank Aktiengesellschaft boosted its stake in shares of Tilray Brands by 11.0% during the second quarter. Baader Bank Aktiengesellschaft now owns 339,706 shares of the company’s stock valued at $134,000 after purchasing an additional 33,684 shares during the period. Vontobel Holding Ltd. raised its holdings in Tilray Brands by 12.7% during the 2nd quarter. Vontobel Holding Ltd. now owns 272,662 shares of the company’s stock valued at $113,000 after buying an additional 30,818 shares during the last quarter. Stratos Wealth Partners LTD. raised its holdings in Tilray Brands by 704.5% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 81,272 shares of the company’s stock valued at $34,000 after buying an additional 71,170 shares during the last quarter. Swiss National Bank boosted its position in Tilray Brands by 2.3% during the 1st quarter. Swiss National Bank now owns 1,816,638 shares of the company’s stock valued at $1,194,000 after buying an additional 40,000 shares during the period. Finally, Tradewinds Capital Management LLC grew its holdings in Tilray Brands by 177.0% in the 2nd quarter. Tradewinds Capital Management LLC now owns 203,461 shares of the company’s stock worth $84,000 after acquiring an additional 130,001 shares during the last quarter. 9.35% of the stock is owned by hedge funds and other institutional investors.

Tilray Brands Company Profile

(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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