Tilray Brands (NASDAQ:TLRY) Stock Price Down 2.6% – What’s Next?

Tilray Brands, Inc. (NASDAQ:TLRY)’s stock price traded down 2.6% during mid-day trading on Tuesday . The company traded as low as $8.97 and last traded at $9.02. 6,728,753 shares were traded during mid-day trading, an increase of 9% from the average session volume of 6,196,229 shares. The stock had previously closed at $9.26.

Analyst Upgrades and Downgrades

TLRY has been the topic of several recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Tilray Brands in a research report on Wednesday, October 8th. Wall Street Zen raised Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Saturday, October 11th. Finally, Atb Cap Markets upgraded Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 10th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Tilray Brands presently has an average rating of “Hold” and a consensus target price of $20.00.

Tilray Brands Price Performance

The stock’s 50 day moving average price is $10.99 and its 200-day moving average price is $10.29. 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 market capitalization of $1.01 billion, a PE ratio of -0.40 and a beta of 1.76.

Institutional Trading of Tilray Brands

Large investors have recently modified their holdings of the company. Integrated Wealth Concepts LLC grew its stake in Tilray Brands by 33.8% in the third quarter. Integrated Wealth Concepts LLC now owns 36,977 shares of the company’s stock worth $64,000 after purchasing an additional 9,341 shares in the last quarter. CreativeOne Wealth LLC lifted its holdings in shares of Tilray Brands by 12.2% in the 3rd quarter. CreativeOne Wealth LLC now owns 87,134 shares of the company’s stock worth $151,000 after buying an additional 9,452 shares during the period. Dudley Capital Management LLC lifted its holdings in shares of Tilray Brands by 73.3% in the 3rd quarter. Dudley Capital Management LLC now owns 26,000 shares of the company’s stock worth $45,000 after buying an additional 11,000 shares during the period. Arizona State Retirement System grew its position in shares of Tilray Brands by 4.3% during the 3rd quarter. Arizona State Retirement System now owns 307,193 shares of the company’s stock worth $531,000 after buying an additional 12,675 shares in the last quarter. Finally, Brighton Jones LLC grew its position in shares of Tilray Brands by 28.3% during the 3rd quarter. Brighton Jones LLC now owns 59,510 shares of the company’s stock worth $103,000 after buying an additional 13,137 shares in the last quarter. Hedge funds and other institutional investors own 9.35% of the company’s stock.

About Tilray Brands

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.