Tilray Brands (NASDAQ:TLRY) Trading Down 2.3% – Here’s Why

Tilray Brands, Inc. (NASDAQ:TLRY)’s share price traded down 2.3% during mid-day trading on Monday . The stock traded as low as $9.29 and last traded at $9.50. 5,826,853 shares were traded during trading, a decline of 3% from the average session volume of 6,017,571 shares. The stock had previously closed at $9.72.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tilray Brands in a report on Wednesday, October 8th. Wall Street Zen upgraded Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Saturday, October 11th. Finally, Atb Cap Markets raised Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 10th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Tilray Brands currently has a consensus rating of “Hold” and a consensus target price of $20.00.

Tilray Brands Stock Performance

The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.56 and a current ratio of 2.62. The firm’s 50 day moving average price is $10.45 and its 200-day moving average price is $10.48.

Institutional Trading of Tilray Brands

Institutional investors and hedge funds have recently made changes to their positions in the business. Tudor Investment Corp ET AL purchased a new position in shares of Tilray Brands during the 3rd quarter valued at approximately $518,000. Swiss Life Asset Management Ltd increased its holdings in Tilray Brands by 222.9% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 42,503 shares of the company’s stock worth $74,000 after acquiring an additional 29,339 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its position in Tilray Brands by 99,204,800.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 992,049 shares of the company’s stock worth $1,716,000 after acquiring an additional 992,048 shares during the period. Sassicaia Capital Advisers LLC acquired a new position in Tilray Brands during the third quarter worth $401,000. Finally, Scientech Research LLC purchased a new position in Tilray Brands during the third quarter valued at $1,748,000. 9.35% of the stock is currently owned by hedge funds and other institutional investors.

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.