Tilray Brands (NASDAQ:TLRY) Trading Down 4.1% – Here’s Why

Shares of Tilray Brands, Inc. (NASDAQ:TLRY) traded down 4.1% on Thursday . The stock traded as low as $3.93 and last traded at $3.99. 3,981,198 shares changed hands during trading, a decline of 5% from the average session volume of 4,198,419 shares. The stock had previously closed at $4.16.

Analyst Ratings Changes

TLRY has been the subject of several analyst reports. TD Cowen decreased their price objective on Tilray Brands from $7.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, July 14th. Roth Capital upgraded shares of Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 price objective on the stock in a report on Thursday, April 2nd. Weiss Ratings downgraded Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research report 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 research report on Thursday, April 2nd. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $11.00.

Tilray Brands Price Performance

The company has a fifty day simple moving average of $4.85 and a two-hundred day simple moving average of $6.49. The stock has a market capitalization of $465.03 million, a price-to-earnings ratio of -0.29 and a beta of 1.89. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.66 and a current ratio of 2.79.

Institutional Investors Weigh In On Tilray Brands

Several institutional investors and hedge funds have recently bought and sold shares of the company. Hilton Head Capital Partners LLC acquired a new stake in Tilray Brands during the fourth quarter worth about $38,000. Cerity Partners LLC lifted its holdings in shares of Tilray Brands by 98.5% during the 2nd quarter. Cerity Partners LLC now owns 92,560 shares of the company’s stock worth $38,000 after acquiring an additional 45,929 shares during the period. Marex Group plc acquired a new stake in shares of Tilray Brands during the 2nd quarter worth approximately $40,000. Hilton Capital Management LLC acquired a new stake in shares of Tilray Brands during the 2nd quarter worth approximately $41,000. Finally, Essential Partners LLC raised its position in Tilray Brands by 110,137.5% during the first quarter. Essential Partners LLC now owns 8,819 shares of the company’s stock valued at $57,000 after purchasing an additional 8,811 shares in the last quarter. Institutional investors own 9.35% of the company’s stock.

Tilray Brands Company Profile

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.