Tilray Brands (TSE:TLRY) Stock Price Down 8.6% – What’s Next?

Tilray Brands, Inc. (TSE:TLRY) shares were down 8.6% on Friday . The company traded as low as C$15.31 and last traded at C$15.50. Approximately 362,742 shares were traded during trading, an increase of 10% from the average daily volume of 329,812 shares. The stock had previously closed at C$16.96.

Wall Street Analyst Weigh In

Separately, Sanford C. Bernstein increased their price objective on shares of Tilray Brands from C$13.00 to C$13.60 in a research note on Friday.

Tilray Brands Trading Down 7.8%

The company has a 50 day moving average of C$16.56 and a 200 day moving average of C$13.74. The firm has a market cap of C$1.81 billion, a price-to-earnings ratio of -0.65 and a beta of 3.56. The company has a current ratio of 2.54, a quick ratio of 2.16 and a debt-to-equity ratio of 10.76.

About Tilray Brands

Tilray is a Canadian producer that cultivates and sells medical and recreational cannabis. In 2021, legacy Aphria acquired legacy Tilray in a reverse merger and renamed itself Tilray. The bulk of its sales are in Canada and in the international medical cannabis export market. U.S. exposure consists of CBD products through Manitoba Harvest and beer through SweetWater.