Tilray Brands (NASDAQ:TLRY) Stock Price Down 5.2% – Here’s Why

Tilray Brands, Inc. (NASDAQ:TLRY)’s share price fell 5.2% during trading on Monday . The stock traded as low as $4.36 and last traded at $4.38. Approximately 4,723,193 shares were traded during trading, an increase of 10% from the average session volume of 4,282,652 shares. The stock had previously closed at $4.62.

Analyst Ratings Changes

A number of research firms recently weighed in on TLRY. TD Cowen lowered their price objective on shares of Tilray Brands from $10.00 to $7.00 and set a “buy” rating for the company in a research note on Monday, March 30th. Roth Capital upgraded shares of Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 price target for the company in a report on Thursday, April 2nd. ATB Cormark Capital Markets lowered their price target on shares of Tilray Brands from $9.50 to $9.00 and set a “sector perform” rating for the company in a research report on Thursday, April 2nd. Wall Street Zen upgraded shares of Tilray Brands from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Finally, Weiss Ratings lowered shares of 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 given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Tilray Brands has an average rating of “Hold” and a consensus target price of $11.50.

Tilray Brands Price Performance

The firm has a market capitalization of $509.32 million, a P/E ratio of -0.32 and a beta of 1.89. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.79 and a quick ratio of 1.66. The stock’s fifty day simple moving average is $5.19 and its 200 day simple moving average is $6.94.

Insider Activity

In related news, Director David G. Hopkinson sold 33,556 shares of the business’s stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $6.94, for a total transaction of $232,878.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.84% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tilray Brands

Institutional investors and hedge funds have recently bought and sold shares of the company. Tudor Investment Corp ET AL purchased a new stake in shares of Tilray Brands during the 3rd quarter valued at $518,000. Cresset Asset Management LLC grew its stake in Tilray Brands by 72.1% during the 3rd quarter. Cresset Asset Management LLC now owns 501,989 shares of the company’s stock worth $868,000 after buying an additional 210,267 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its stake in Tilray Brands by 99,204,800.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 992,049 shares of the company’s stock worth $1,716,000 after buying an additional 992,048 shares during the last quarter. Zuckerman Investment Group LLC acquired a new position in Tilray Brands during the 3rd quarter valued at about $147,000. Finally, Hillsdale Investment Management Inc. acquired a new position in Tilray Brands during the 4th quarter valued at about $4,855,000. 9.35% of the stock is owned by hedge funds and other institutional investors.

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.