Tilray Brands (NASDAQ:TLRY) Stock Price Down 6.2% - What's Next?

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s stock price was down 6.2% during trading on Tuesday . The company traded as low as $0.62 and last traded at $0.62. Approximately 12,768,706 shares traded hands during trading, a decline of 59% from the average daily volume of 31,072,867 shares. The stock had previously closed at $0.66.

Wall Street Analyst Weigh In

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

Tilray Brands Stock Up 1.4%

The firm has a market capitalization of $615.27 million, a price-to-earnings ratio of -0.58 and a beta of 1.82. The business's 50-day moving average is $0.46 and its two-hundred day moving average is $0.69. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.61 and a current ratio of 2.62.

Institutional Trading of Tilray Brands

Several hedge funds have recently bought and sold shares of the stock. Tidal Investments LLC raised its holdings in Tilray Brands by 9.2% during the 4th quarter. Tidal Investments LLC now owns 10,595,264 shares of the company's stock worth $14,092,000 after buying an additional 889,086 shares during the period. Bank of Montreal Can raised its holdings in Tilray Brands by 14.4% during the 4th quarter. Bank of Montreal Can now owns 2,488,982 shares of the company's stock worth $3,310,000 after buying an additional 312,476 shares during the period. Geode Capital Management LLC raised its holdings in Tilray Brands by 20.1% during the 4th quarter. Geode Capital Management LLC now owns 2,405,911 shares of the company's stock worth $3,200,000 after buying an additional 403,371 shares during the period. Dimensional Fund Advisors LP raised its holdings in Tilray Brands by 54.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company's stock worth $2,890,000 after buying an additional 769,569 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Tilray Brands by 17.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,964,380 shares of the company's stock worth $2,613,000 after buying an additional 286,481 shares during the period. 9.35% of the stock is currently owned by institutional investors and hedge funds.

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.