Tilray Brands (NASDAQ:TLRY) Stock Price Down 4.2% – What’s Next?

Tilray Brands, Inc. (NASDAQ:TLRY)’s share price fell 4.2% during trading on Thursday . The stock traded as low as $12.09 and last traded at $12.34. 67,120,599 shares were traded during mid-day trading, an increase of 1,005% from the average session volume of 6,075,830 shares. The stock had previously closed at $12.88.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on TLRY shares. Jefferies Financial Group raised their price objective on shares of Tilray Brands from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, August 25th. Atb Cap Markets raised shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Tilray Brands in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Saturday, October 11th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $20.00.

Tilray Brands Stock Performance

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 price of $12.02 and a 200-day moving average price of $9.89. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of -0.54 and a beta of 1.76.

Institutional Trading of Tilray Brands

Several hedge funds and other institutional investors have recently made changes to their positions in TLRY. Tidal Investments LLC raised its holdings in Tilray Brands by 15.0% during the second quarter. Tidal Investments LLC now owns 28,971,835 shares of the company’s stock worth $12,006,000 after purchasing an additional 3,776,410 shares in the last quarter. Millennium Management LLC boosted its holdings in Tilray Brands by 281.0% in the 3rd quarter. Millennium Management LLC now owns 4,942,319 shares of the company’s stock valued at $8,550,000 after purchasing an additional 3,645,060 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Tilray Brands in the 3rd quarter valued at approximately $5,813,000. Ausdal Financial Partners Inc. acquired a new position in Tilray Brands during the 2nd quarter worth approximately $939,000. Finally, Scientech Research LLC purchased a new position in shares of Tilray Brands during the 3rd quarter worth approximately $1,748,000. Hedge funds and other institutional investors own 9.35% of the company’s stock.

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.