Tilray Brands (NASDAQ:TLRY) Shares Down 1.6% - Here's Why

Key Points

• Tilray Brands shares fell 1.6% on Monday, trading as low as $4.20 before last changing hands at $4.23, with volume running below average at about 2.98 million shares.
• Analyst sentiment remains mixed: recent moves included a Weiss Ratings downgrade and TD Cowen cutting its price target to $5, while Roth Capital upgraded the stock to Buy. Overall, the consensus rating is Hold with an average price target of $11.00.
• The stock remains under pressure fundamentally, with a market cap of about $493 million, a negative earnings multiple, and trading below both its 50-day and 200-day moving averages.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s share price was down 1.6% during trading on Monday . The company traded as low as $4.20 and last traded at $4.23. 2,977,316 shares were traded during mid-day trading, a decline of 29% from the average session volume of 4,211,003 shares. The stock had previously closed at $4.30.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on TLRY shares. Weiss Ratings downgraded Tilray Brands from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, May 13th. 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. ATB Cormark Capital Markets decreased their price objective on shares of Tilray Brands from $9.50 to $9.00 and set a "sector perform" rating for the company in a research report on Thursday, April 2nd. Finally, TD Cowen lowered their target price on shares of Tilray Brands from $7.00 to $5.00 and set a "buy" rating for the company in a research note on Tuesday, July 14th. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Tilray Brands presently has an average rating of "Hold" and a consensus price target of $11.00.

Tilray Brands Stock Down 1.6%

The stock has a market capitalization of $493.01 million, a PE ratio of -0.31 and a beta of 1.89. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.79 and a quick ratio of 1.66. The business's fifty day moving average price is $4.92 and its two-hundred day moving average price is $6.60.

Insider Buying and Selling at Tilray Brands

In other news, Director David G. Hopkinson sold 33,556 shares of the stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $6.94, for a total value of $232,878.64. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.84% of the company's stock.

Institutional Investors Weigh In On Tilray Brands

A number of institutional investors and hedge funds have recently modified their holdings of TLRY. Hilton Head Capital Partners LLC acquired a new position in Tilray Brands during the fourth quarter worth $38,000. Pictet Asset Management Holding SA grew its position in shares of Tilray Brands by 38.9% in the first quarter. Pictet Asset Management Holding SA now owns 18,387 shares of the company's stock valued at $119,000 after purchasing an additional 5,145 shares during the period. Schonfeld Strategic Advisors LLC increased its stake in shares of Tilray Brands by 4.5% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 144,358 shares of the company's stock worth $1,304,000 after purchasing an additional 6,182 shares in the last quarter. Baader Bank Aktiengesellschaft increased its stake in shares of Tilray Brands by 17.7% during the first quarter. Baader Bank Aktiengesellschaft now owns 47,938 shares of the company's stock worth $293,000 after purchasing an additional 7,226 shares in the last quarter. Finally, IFP Advisors Inc raised its position in shares of Tilray Brands by 14.3% during the 4th quarter. IFP Advisors Inc now owns 60,318 shares of the company's stock worth $545,000 after purchasing an additional 7,541 shares during the last quarter. Institutional investors and hedge funds 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.

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