Tilray Brands (NASDAQ:TLRY) Trading Down 10% – Should You Sell?

Tilray Brands, Inc. (NASDAQ:TLRY)’s share price traded down 10% during mid-day trading on Monday . The stock traded as low as $10.77 and last traded at $10.93. 40,479,233 shares were traded during mid-day trading, an increase of 630% from the average session volume of 5,546,247 shares. The stock had previously closed at $12.15.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Atb Cap Markets raised shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 10th. Jefferies Financial Group upped their target price on shares of Tilray Brands from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, August 25th. Wall Street Zen upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Saturday, October 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tilray Brands in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $20.00.

Tilray Brands Trading Down 10.0%

The business has a 50 day simple moving average of $12.26 and a 200 day simple moving average of $9.76. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.62 and a quick ratio of 1.56. The company has a market cap of $12.27 billion, a price-to-earnings ratio of -0.48 and a beta of 1.76.

Hedge Funds Weigh In On Tilray Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in TLRY. Tidal Investments LLC raised its stake in Tilray Brands by 15.0% during the 2nd quarter. Tidal Investments LLC now owns 28,971,835 shares of the company’s stock worth $12,006,000 after buying an additional 3,776,410 shares during the period. Millennium Management LLC increased its holdings in shares of Tilray Brands by 281.0% in the third quarter. Millennium Management LLC now owns 4,942,319 shares of the company’s stock worth $8,550,000 after acquiring an additional 3,645,060 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Tilray Brands during the third quarter worth about $5,813,000. Ausdal Financial Partners Inc. bought a new position in shares of Tilray Brands during the 2nd quarter valued at about $939,000. Finally, Swiss National Bank grew its position in shares of Tilray Brands by 4.4% in the 3rd quarter. Swiss National Bank now owns 2,013,038 shares of the company’s stock valued at $3,483,000 after purchasing an additional 84,900 shares during the period. 9.35% of the stock is owned by institutional investors.

Tilray Brands Company Profile

Tilray, Inc engages in the research, cultivation, processing, and distribution of medical cannabis. The company offers its products in Argentina, Australia, Canada, Chile, Croatia, Cyprus, the Czech Republic, Germany, New Zealand, and South Africa. Tilray, Inc is headquartered in Canada.