Tilray Brands (NASDAQ:TLRY) Trading Down 4.4% – Should You Sell?

Shares of Tilray Brands, Inc. (NASDAQ:TLRY) dropped 4.4% on Friday . The stock traded as low as $1.06 and last traded at $1.08. Approximately 58,940,202 shares traded hands during mid-day trading, an increase of 18% from the average daily volume of 49,933,449 shares. The stock had previously closed at $1.13.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Tilray Brands in a research note on Wednesday, October 8th. Zelman & Associates reiterated a “neutral” rating on shares of Tilray Brands in a report on Tuesday, July 29th. Wall Street Zen raised shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Saturday, October 11th. Atb Cap Markets cut shares of Tilray Brands from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 9th. Finally, Jefferies Financial Group upped 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. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Tilray Brands currently has an average rating of “Hold” and an average price target of $2.00.

Tilray Brands Price Performance

The company has a market cap of $1.21 billion, a PE ratio of -0.48 and a beta of 2.04. The business has a 50 day moving average of $1.39 and a 200 day moving average of $0.91. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.62 and a quick ratio of 1.56.

Hedge Funds Weigh In On Tilray Brands

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Schonfeld Strategic Advisors LLC bought a new position in Tilray Brands in the third quarter worth about $239,000. Creative Planning grew its holdings in shares of Tilray Brands by 44.3% during the 3rd quarter. Creative Planning now owns 113,745 shares of the company’s stock worth $197,000 after acquiring an additional 34,942 shares during the period. Virtu Financial LLC grew its holdings in shares of Tilray Brands by 10.6% during the 3rd quarter. Virtu Financial LLC now owns 169,945 shares of the company’s stock worth $294,000 after acquiring an additional 16,355 shares during the period. California State Teachers Retirement System raised its position in shares of Tilray Brands by 17.6% in the 3rd quarter. California State Teachers Retirement System now owns 915,296 shares of the company’s stock worth $1,583,000 after acquiring an additional 136,783 shares in the last quarter. Finally, Zuckerman Investment Group LLC purchased a new position in shares of Tilray Brands in the 3rd quarter valued at approximately $147,000. Hedge funds and other institutional investors own 9.35% of the company’s stock.

About Tilray Brands

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.