Tilray Brands (NASDAQ:TLRY) Stock Price Down 5.4% – Time to Sell?

Shares of Tilray Brands, Inc. (NASDAQ:TLRY) traded down 5.4% during trading on Friday . The stock traded as low as $9.52 and last traded at $9.60. 6,540,429 shares changed hands during trading, an increase of 6% from the average session volume of 6,198,575 shares. The stock had previously closed at $10.15.

Analyst Ratings Changes

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

Tilray Brands Stock Down 5.4%

The company has a market cap of $1.08 billion, a price-to-earnings ratio of -0.42 and a beta of 1.76. 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 stock’s fifty day moving average is $11.24 and its two-hundred day moving average is $10.13.

Institutional Investors Weigh In On Tilray Brands

Several institutional investors have recently bought and sold shares of TLRY. Oppenheimer & Co. Inc. purchased a new stake in Tilray Brands in the 3rd quarter valued at $25,000. Silverlake Wealth Management LLC bought a new position in shares of Tilray Brands during the third quarter valued at about $25,000. Unified Investment Management purchased a new position in Tilray Brands during the third quarter worth about $26,000. Y Intercept Hong Kong Ltd bought a new stake in Tilray Brands in the 3rd quarter worth about $30,000. Finally, HighPoint Advisor Group LLC purchased a new stake in Tilray Brands in the 3rd quarter valued at about $33,000. Institutional investors own 9.35% of the company’s stock.

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.