Tilray Brands (NASDAQ:TLRY) Stock Price Down 5.4% - Here's Why

Key Points

• Stock down 5.4% — Tilray shares fell to $9.60 (intraday low $9.52) on Friday with ~6.54 million shares traded, about 6% above the average daily volume.
• Analyst view: Hold — The consensus rating on TLRY is "Hold" with a $20.00 target, after a mix of recent upgrades from "strong sell" to "hold" alongside lingering sell opinions.
• Key fundamentals: market cap ~$1.08 billion, negative P/E (-0.42), 50-day/200-day moving averages of $11.24/$10.13, low leverage (debt-to-equity 0.15) and roughly 9.35% institutional ownership with several funds modestly increasing positions.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s stock price was down 5.4% during mid-day trading on Friday . The stock traded as low as $9.52 and last traded at $9.60. Approximately 6,540,429 shares were traded during trading, an increase of 6% from the average daily volume of 6,198,575 shares. The stock had previously closed at $10.15.

Analyst Upgrades and Downgrades

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

Tilray Brands Stock Down 5.4%

The stock has a 50-day moving average price of $11.24 and a 200-day moving average price of $10.13. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.62 and a quick ratio of 1.56. The company has a market capitalization of $1.08 billion, a P/E ratio of -0.42 and a beta of 1.76.

Institutional Investors Weigh In On Tilray Brands

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