Tilray Brands (NASDAQ:TLRY) Shares Down 2.6% – Should You Sell?
by Danessa Lincoln · The Markets DailyTilray Brands, Inc. (NASDAQ:TLRY – Get Free Report) traded down 2.6% during mid-day trading on Tuesday . The company traded as low as $8.97 and last traded at $9.02. 6,728,753 shares traded hands during trading, an increase of 9% from the average session volume of 6,196,229 shares. The stock had previously closed at $9.26.
Analysts Set New Price Targets
Several analysts have recently weighed in on TLRY shares. Weiss Ratings restated a “sell (d-)” rating on shares of Tilray Brands in a report on Wednesday, October 8th. Wall Street Zen raised shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Saturday, October 11th. Finally, Atb Cap Markets upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 10th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $20.00.
Check Out Our Latest Stock Report on Tilray Brands
Tilray Brands Price Performance
The stock has a 50 day moving average of $10.77 and a two-hundred day moving average of $10.32. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.56 and a current ratio of 2.62. The stock has a market cap of $1.01 billion, a PE ratio of -0.40 and a beta of 1.76.
Institutional Investors Weigh In On Tilray Brands
Hedge funds have recently made changes to their positions in the company. Tudor Investment Corp ET AL purchased a new position in Tilray Brands during the 3rd quarter worth approximately $518,000. Swiss Life Asset Management Ltd boosted its position in shares of Tilray Brands by 222.9% in the third quarter. Swiss Life Asset Management Ltd now owns 42,503 shares of the company’s stock worth $74,000 after buying an additional 29,339 shares during the period. Caitong International Asset Management Co. Ltd grew its holdings in shares of Tilray Brands by 99,204,800.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 992,049 shares of the company’s stock valued at $1,716,000 after buying an additional 992,048 shares in the last quarter. Sassicaia Capital Advisers LLC purchased a new position in shares of Tilray Brands during the third quarter valued at $401,000. Finally, Scientech Research LLC acquired a new position in Tilray Brands during the third quarter valued at $1,748,000. 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.