Tilray Brands (NASDAQ:TLRY) Stock Price Down 1.6% – Here’s What Happened

by · The Markets Daily

Shares of Tilray Brands, Inc. (NASDAQ:TLRY – Get Free Report) fell 1.6% on Monday . The stock traded as low as $4.20 and last traded at $4.23. 2,977,316 shares were traded during trading, a decline of 29% from the average daily volume of 4,211,003 shares. The stock had previously closed at $4.30.

Analyst Upgrades and Downgrades

TLRY has been the topic of several recent research reports. Roth Capital upgraded Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 price objective on the stock in a research report on Thursday, April 2nd. TD Cowen cut their target price 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. Weiss Ratings cut shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 13th. Finally, ATB Cormark Capital Markets lowered their price target on shares of Tilray Brands from $9.50 to $9.00 and set a “sector perform” rating on the stock in a report on Thursday, April 2nd. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Tilray Brands has an average rating of “Hold” and a consensus target price of $11.00.

Check Out Our Latest Analysis on Tilray Brands

Tilray Brands Stock Down 0.6%

The company has a market cap of $491.26 million, a price-to-earnings ratio of -0.31 and a beta of 1.89. The company has a current ratio of 2.79, a quick ratio of 1.66 and a debt-to-equity ratio of 0.19. The business has a fifty day moving average of $4.87 and a two-hundred day moving average of $6.53.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Tidal Investments LLC grew its stake in Tilray Brands by 15.0% in the 2nd quarter. Tidal Investments LLC now owns 28,971,835 shares of the company’s stock valued at $12,006,000 after acquiring an additional 3,776,410 shares during the period. Millennium Management LLC raised its position in Tilray Brands by 281.0% during the third quarter. Millennium Management LLC now owns 4,942,319 shares of the company’s stock worth $8,550,000 after acquiring an additional 3,645,060 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Tilray Brands during the third quarter valued at $5,813,000. Ausdal Financial Partners Inc. acquired a new stake in shares of Tilray Brands in the second quarter valued at about $939,000. Finally, Swiss National Bank grew its position in shares of Tilray Brands by 4.4% in the third quarter. Swiss National Bank now owns 2,013,038 shares of the company’s stock valued at $3,483,000 after purchasing an additional 84,900 shares during the period. 9.35% of the stock is owned by institutional investors and hedge funds.

About Tilray Brands

(Get Free Report)

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.

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