Tilray Brands (TSE:TLRY) Shares Down 8.6% – Time to Sell?

Tilray Brands, Inc. (TSE:TLRY)’s stock price traded down 8.6% during mid-day trading on Friday . The stock traded as low as C$15.31 and last traded at C$15.50. 362,742 shares changed hands during mid-day trading, an increase of 10% from the average session volume of 329,812 shares. The stock had previously closed at C$16.96.

Wall Street Analysts Forecast Growth

Separately, Sanford C. Bernstein boosted their price objective on Tilray Brands from C$13.00 to C$13.60 in a research report on Friday.

Tilray Brands Price Performance

The company has a quick ratio of 2.16, a current ratio of 2.54 and a debt-to-equity ratio of 10.76. The stock’s 50-day moving average price is C$16.56 and its 200 day moving average price is C$13.74. The firm has a market cap of C$1.81 billion, a price-to-earnings ratio of -0.65 and a beta of 3.56.

Tilray Brands Company Profile

Tilray is a Canadian producer that cultivates and sells medical and recreational cannabis. In 2021, legacy Aphria acquired legacy Tilray in a reverse merger and renamed itself Tilray. The bulk of its sales are in Canada and in the international medical cannabis export market. U.S. exposure consists of CBD products through Manitoba Harvest and beer through SweetWater.