Tilray Brands (NASDAQ:TLRY) Trading Down 4.7% - What's Next?

Key Points

• Tilray Brands stock price has declined by 4.7%, with shares trading as low as $0.66 during the recent trading session.
• Equities research analysts have given Tilray Brands a mixed outlook, with one "strong sell" rating, three "hold" ratings, and one "buy" rating, reflecting an average target price of $1.92.
• Institutional investors have increased their holdings in Tilray Brands, with significant increases from firms like AQR Capital Management and Tidal Investments.
• The company's market capitalization is approximately $661.27 million, and it has a low debt-to-equity ratio of 0.12.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s share price traded down 4.7% on Friday . The company traded as low as $0.66 and last traded at $0.67. 13,856,763 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 35,477,633 shares. The stock had previously closed at $0.70.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Roth Capital reaffirmed a "neutral" rating on shares of Tilray Brands in a research note on Monday, April 14th. Piper Sandler decreased their price target on shares of Tilray Brands from $2.00 to $1.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 9th. Finally, Wall Street Zen lowered shares of Tilray Brands to a "strong sell" rating in a research note on Saturday, July 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Tilray Brands currently has an average rating of "Hold" and an average price target of $1.92.

Tilray Brands Price Performance

The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.61 and a current ratio of 2.62. The stock's 50 day simple moving average is $0.49 and its two-hundred day simple moving average is $0.66. The firm has a market capitalization of $692.98 million, a PE ratio of -0.66 and a beta of 1.82.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Lido Advisors LLC purchased a new stake in shares of Tilray Brands during the 4th quarter valued at approximately $28,000. Cerity Partners LLC purchased a new stake in shares of Tilray Brands during the 1st quarter valued at approximately $31,000. Capital Management Associates Inc raised its position in shares of Tilray Brands by 100.0% during the 1st quarter. Capital Management Associates Inc now owns 50,760 shares of the company's stock valued at $33,000 after buying an additional 25,380 shares during the period. Fifth Lane Capital LP raised its position in shares of Tilray Brands by 400.0% during the 1st quarter. Fifth Lane Capital LP now owns 50,000 shares of the company's stock valued at $33,000 after buying an additional 40,000 shares during the period. Finally, Zuckerman Investment Group LLC purchased a new stake in shares of Tilray Brands during the 1st quarter valued at approximately $33,000. 9.35% of the stock is owned by hedge funds and other institutional investors.

Tilray Brands Company Profile

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.