Tilray Brands (NASDAQ:TLRY) Trading Down 1.5% – What’s Next?

Tilray Brands, Inc. (NASDAQ:TLRY)’s share price fell 1.5% during mid-day trading on Tuesday . The company traded as low as $7.1650 and last traded at $7.71. 8,969,333 shares changed hands during trading, an increase of 80% from the average session volume of 4,996,764 shares. The stock had previously closed at $7.8240.

Analyst Ratings Changes

Several brokerages have recently weighed in on TLRY. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tilray Brands in a report on Wednesday, October 8th. Atb Cap Markets downgraded Tilray Brands from a “hold” rating to a “strong sell” rating in a report on Thursday, October 9th. Wall Street Zen upgraded Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Saturday, October 11th. Finally, Jefferies Financial Group boosted their price target on shares of Tilray Brands from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, August 25th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $20.00.

Tilray Brands Stock Performance

The company’s 50 day moving average price is $1.35 and its 200-day moving average price is $0.95. The stock has a market cap of $8.66 billion, a P/E ratio of -3.40 and a beta of 1.76. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.56 and a current ratio of 2.62.

Hedge Funds Weigh In On Tilray Brands

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Silverlake Wealth Management LLC purchased a new position in Tilray Brands in the third quarter worth $25,000. Oppenheimer & Co. Inc. purchased a new position in shares of Tilray Brands in the 3rd quarter worth about $25,000. Unified Investment Management purchased a new position in shares of Tilray Brands in the 3rd quarter worth about $26,000. J.W. Cole Advisors Inc. grew its position in Tilray Brands by 203.2% during the second quarter. J.W. Cole Advisors Inc. now owns 71,890 shares of the company’s stock valued at $30,000 after buying an additional 48,177 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Tilray Brands during the third quarter worth about $30,000. Hedge funds and other institutional investors own 9.35% of the company’s stock.

Tilray Brands Company Profile

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.