Tilray Brands (NASDAQ:TLRY) Stock Price Down 4.2% - Should You Sell?

Key Points

• Shares fell 4.2% intraday to about $12.34 (low $12.09) on a huge volume surge of roughly 67.1M shares, a ~1,005% increase versus average daily volume.
• Analyst views are mixed—2 Buys, 4 Holds and 1 Sell—leaving an average rating of "Hold" and an average price target of $20, with Jefferies recently upgrading to a Buy and lifting its target to $20.
• Tilray has a market capitalization of $1.39 billion and a negative PE (-0.54), while showing solid liquidity (quick ratio 1.56, current ratio 2.62) and a low debt-to-equity of 0.15; institutional ownership is about 9.35%.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) shares were down 4.2% during mid-day trading on Thursday . The company traded as low as $12.09 and last traded at $12.34. Approximately 67,120,599 shares changed hands during mid-day trading, an increase of 1,005% from the average daily volume of 6,075,830 shares. The stock had previously closed at $12.88.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Tilray Brands in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Tilray Brands from a "strong sell" rating to a "hold" rating in a research note on Saturday, October 11th. Atb Cap Markets upgraded shares of Tilray Brands from a "strong sell" rating to a "hold" rating in a report on Wednesday, December 10th. Finally, Jefferies Financial Group lifted their target price on shares of Tilray Brands from $15.00 to $20.00 and gave the company a "buy" rating in a report on Monday, August 25th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $20.00.

Tilray Brands Stock Performance

The stock has a market capitalization of $1.39 billion, a PE ratio of -0.54 and a beta of 1.76. The company has a quick ratio of 1.56, a current ratio of 2.62 and a debt-to-equity ratio of 0.15. The stock has a fifty day moving average of $12.02 and a 200-day moving average of $9.89.

Institutional Investors Weigh In On Tilray Brands

A number of large investors have recently modified their holdings of the company. Integrated Wealth Concepts LLC raised its holdings in shares of Tilray Brands by 33.8% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 36,977 shares of the company's stock valued at $64,000 after purchasing an additional 9,341 shares in the last quarter. CreativeOne Wealth LLC increased its holdings in Tilray Brands by 12.2% in the third quarter. CreativeOne Wealth LLC now owns 87,134 shares of the company's stock valued at $151,000 after buying an additional 9,452 shares during the last quarter. Dudley Capital Management LLC raised its stake in Tilray Brands by 73.3% in the third quarter. Dudley Capital Management LLC now owns 26,000 shares of the company's stock valued at $45,000 after buying an additional 11,000 shares in the last quarter. Arizona State Retirement System lifted its holdings in Tilray Brands by 4.3% during the 3rd quarter. Arizona State Retirement System now owns 307,193 shares of the company's stock worth $531,000 after buying an additional 12,675 shares during the last quarter. Finally, Brighton Jones LLC boosted its position in shares of Tilray Brands by 28.3% during the 3rd quarter. Brighton Jones LLC now owns 59,510 shares of the company's stock worth $103,000 after acquiring an additional 13,137 shares in the last quarter. 9.35% of the stock is owned by hedge funds and other institutional investors.

About Tilray Brands

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.

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