Tilray Brands (NASDAQ:TLRY) Shares Down 2.8% - Should You Sell?

Key Points

• Tilray Brands shares fell 2.8% on Friday, trading as low as $3.80 and last at $3.88 on volume well above average.
• Analysts remain cautious overall: recent price target cuts from ATB Cormark and TD Cowen offset one upgrade, leaving Tilray with an average Hold rating and a consensus target of $11.00.
• The stock’s technical picture remains weak, with shares below both the 50-day moving average of $4.82 and the 200-day moving average of $6.45; Tilray also has a market cap of about $452 million.

Shares of Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) fell 2.8% on Friday . The company traded as low as $3.80 and last traded at $3.88. 6,559,208 shares traded hands during mid-day trading, an increase of 56% from the average daily volume of 4,211,266 shares. The stock had previously closed at $3.99.

Analysts Set New Price Targets

TLRY has been the subject of several recent research reports. ATB Cormark Capital Markets decreased their price target on Tilray Brands from $9.50 to $9.00 and set a "sector perform" rating for the company in a report on Thursday, April 2nd. TD Cowen cut their price objective on shares of Tilray Brands from $7.00 to $5.00 and set a "buy" rating on the stock in a report on Tuesday, July 14th. Weiss Ratings lowered shares of Tilray Brands from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday, May 13th. Finally, Roth Capital upgraded shares of Tilray Brands from a "neutral" rating to a "buy" rating and set a $10.00 target price for the company in a report on Thursday, April 2nd. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $11.00.

Tilray Brands Stock Performance

The company has a market cap of $452.21 million, a P/E ratio of -0.28 and a beta of 1.89. The company's 50-day moving average is $4.82 and its two-hundred day moving average is $6.45. The company has a quick ratio of 1.66, a current ratio of 2.79 and a debt-to-equity ratio of 0.19.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Hilton Head Capital Partners LLC purchased a new stake in shares of Tilray Brands during the 4th quarter worth approximately $38,000. Essential Partners LLC lifted its stake in Tilray Brands by 110,137.5% in 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 during the last quarter. Engineers Gate Manager LP bought a new position in Tilray Brands during the fourth quarter valued at $126,000. R Squared Ltd bought a new position in Tilray Brands during the first quarter valued at $94,000. Finally, Apollon Wealth Management LLC purchased a new stake in Tilray Brands in the first quarter worth $96,000. 9.35% of the stock is owned by institutional investors.

About Tilray Brands

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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