Tilray Brands (NASDAQ:TLRY) Trading Down 1.9% - Here's Why

Key Points

• Tilray Brands shares fell 1.9% to $4.16 on Wednesday, with trading volume below average at 2.7 million shares versus the normal 4.2 million.
• Analyst sentiment remains mixed: recent moves included a TD Cowen target cut to $5.00 and a Roth Capital upgrade to Buy, but the overall consensus rating is still Hold with an average price target of $11.00.
• The company has a $484.85 million market cap and relatively strong liquidity, while institutional investors continue to add modestly to positions; hedge funds and other institutions own about 9.35% of the stock.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) traded down 1.9% during trading on Wednesday . The company traded as low as $4.16 and last traded at $4.16. 2,735,633 shares traded hands during trading, a decline of 35% from the average daily volume of 4,199,393 shares. The stock had previously closed at $4.24.

Analyst Upgrades and Downgrades

TLRY has been the topic of several recent analyst reports. ATB Cormark Capital Markets cut their target price on shares of Tilray Brands from $9.50 to $9.00 and set a "sector perform" rating on the stock in a report on Thursday, April 2nd. Roth Capital raised Tilray Brands from a "neutral" rating to a "buy" rating and set a $10.00 target price for the company in a research report on Thursday, April 2nd. TD Cowen dropped their price objective on shares of Tilray Brands from $7.00 to $5.00 and set a "buy" rating on the stock in a research note on Tuesday, July 14th. Finally, Weiss Ratings downgraded Tilray Brands from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, May 13th. Three 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 MarketBeat, the company has a consensus rating of "Hold" and an average price target of $11.00.

Tilray Brands Price Performance

The stock has a market capitalization of $484.85 million, a P/E ratio of -0.30 and a beta of 1.89. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.66 and a current ratio of 2.79. The firm has a fifty day moving average price of $4.87 and a two-hundred day moving average price of $6.53.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Hilton Head Capital Partners LLC bought a new stake in Tilray Brands during the fourth quarter valued at about $38,000. Cerity Partners LLC increased its holdings in shares of Tilray Brands by 98.5% in the second quarter. Cerity Partners LLC now owns 92,560 shares of the company's stock worth $38,000 after purchasing an additional 45,929 shares during the last quarter. Marex Group plc purchased a new stake in shares of Tilray Brands during the 2nd quarter worth approximately $40,000. Hilton Capital Management LLC purchased a new stake in Tilray Brands during the second quarter valued at $41,000. Finally, Essential Partners LLC increased its stake in Tilray Brands by 110,137.5% during the first quarter. Essential Partners LLC now owns 8,819 shares of the company's stock worth $57,000 after acquiring an additional 8,811 shares during the last quarter. Hedge funds and other institutional investors 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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