Tilray Brands (NASDAQ:TLRY) Shares Down 3.7% - Here's Why

Key Points

• Shares fell 3.7% on Monday to about $9.24 (intraday low $9.18) on volume of 5.57 million shares, roughly 10% below the average session volume.
• Analyst sentiment is mixed with a consensus rating of Hold (2 Buys, 4 Holds, 1 Sell) and a consensus price target of $20.00.
• Tilray has a market cap of about $1.04 billion, a negative P/E (-0.41) but solid liquidity (current ratio 2.62, quick ratio 1.56) and low leverage (debt/equity 0.15).

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s stock price traded down 3.7% during trading on Monday . The company traded as low as $9.18 and last traded at $9.24. 5,568,789 shares changed hands during mid-day trading, a decline of 10% from the average session volume of 6,196,250 shares. The stock had previously closed at $9.60.

Analyst Upgrades and Downgrades

Several research firms have commented on TLRY. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Tilray Brands in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Tilray Brands from a "strong sell" rating to a "hold" rating in a research report on Saturday, October 11th. Finally, Atb Cap Markets raised shares of Tilray Brands from a "strong sell" rating to a "hold" rating in a research note on Wednesday, December 10th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $20.00.

Tilray Brands Stock Performance

The company has a current ratio of 2.62, a quick ratio of 1.56 and a debt-to-equity ratio of 0.15. The company's 50-day moving average is $11.12 and its two-hundred day moving average is $10.25. The stock has a market capitalization of $1.04 billion, a P/E ratio of -0.41 and a beta of 1.76.

Institutional Trading of Tilray Brands

Hedge funds and other institutional investors have recently modified their holdings of the company. Silverlake Wealth Management LLC acquired a new position in Tilray Brands during the third quarter worth about $25,000. Oppenheimer & Co. Inc. bought a new stake in shares of Tilray Brands in the 3rd quarter worth approximately $25,000. Unified Investment Management acquired a new stake in Tilray Brands during the third quarter valued at approximately $26,000. J.W. Cole Advisors Inc. boosted its holdings 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 worth $30,000 after buying an additional 48,177 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in Tilray Brands in the third quarter worth approximately $30,000. Institutional investors own 9.35% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.