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

Tilray Brands, Inc. (NASDAQ:TLRY) shares traded down 5.2% during mid-day trading on Monday . The company traded as low as $4.36 and last traded at $4.38. 4,723,193 shares changed hands during mid-day trading, an increase of 10% from the average session volume of 4,282,652 shares. The stock had previously closed at $4.62.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on TLRY shares. TD Cowen dropped their price target on shares of Tilray Brands from $10.00 to $7.00 and set a “buy” rating on the stock in a research note on Monday, March 30th. Weiss Ratings cut shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 13th. Wall Street Zen raised shares of Tilray Brands from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. ATB Cormark Capital Markets dropped their target price on shares of Tilray Brands from $9.50 to $9.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 2nd. Finally, Roth Mkm upgraded shares of Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 price target on the stock in a research note on Thursday, April 2nd. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Tilray Brands presently has an average rating of “Hold” and a consensus target price of $11.50.

Tilray Brands Trading Down 5.2%

The stock has a market capitalization of $510.49 million, a price-to-earnings ratio of -0.32 and a beta of 1.89. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.66 and a current ratio of 2.79. The business has a 50-day moving average of $5.29 and a 200-day moving average of $7.06.

Insiders Place Their Bets

In other Tilray Brands news, Director David G. Hopkinson sold 33,556 shares of the business’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $6.94, for a total value of $232,878.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On Tilray Brands

Institutional investors have recently modified their holdings of the business. Essential Partners LLC increased its holdings in shares of Tilray Brands by 110,137.5% in the 1st quarter. Essential Partners LLC now owns 8,819 shares of the company’s stock valued at $57,000 after acquiring an additional 8,811 shares during the period. Entropy Technologies LP acquired a new stake in Tilray Brands during the 1st quarter worth $123,000. Baader Bank Aktiengesellschaft grew its position in Tilray Brands by 17.7% during the 1st quarter. Baader Bank Aktiengesellschaft now owns 47,938 shares of the company’s stock worth $293,000 after purchasing an additional 7,226 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Tilray Brands by 82.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 87,803 shares of the company’s stock worth $568,000 after purchasing an additional 39,801 shares during the last quarter. Finally, Swiss National Bank increased its stake in Tilray Brands by 4.1% in the first quarter. Swiss National Bank now owns 230,503 shares of the company’s stock valued at $1,491,000 after purchasing an additional 9,100 shares during the period. 9.35% of the stock is owned by institutional investors and hedge funds.

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.