Tilray Brands (NASDAQ:TLRY) Shares Down 1.1% – Should You Sell?

Tilray Brands, Inc. (NASDAQ:TLRY)’s share price was down 1.1% during trading on Friday . The stock traded as low as $4.25 and last traded at $4.30. 2,393,608 shares traded hands during trading, a decline of 43% from the average session volume of 4,220,113 shares. The stock had previously closed at $4.35.

Analyst Upgrades and Downgrades

TLRY has been the topic of several recent analyst reports. Wall Street Zen raised Tilray Brands from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Roth Capital raised Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Thursday, April 2nd. Weiss Ratings cut shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 13th. ATB Cormark Capital Markets lowered 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 note on Thursday, April 2nd. Finally, TD Cowen dropped their target price on shares of Tilray Brands from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Tuesday. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Tilray Brands has a consensus rating of “Hold” and an average target price of $11.00.

Tilray Brands Trading Down 1.1%

The firm has a market cap of $501.17 million, a P/E ratio of -0.32 and a beta of 1.89. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.79 and a quick ratio of 1.66. The stock has a 50 day moving average of $4.95 and a 200 day moving average of $6.63.

Insider Activity

In other news, Director David G. Hopkinson sold 33,556 shares of the company’s stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $6.94, for a total value of $232,878.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On Tilray Brands

Large investors have recently modified their holdings of the company. Hilton Head Capital Partners LLC bought a new stake in Tilray Brands in the 4th quarter worth approximately $38,000. Essential Partners LLC grew its position in Tilray Brands by 110,137.5% during the first 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 last quarter. Engineers Gate Manager LP bought a new position in Tilray Brands during the fourth quarter valued at approximately $126,000. R Squared Ltd purchased a new position in shares of Tilray Brands during the first quarter worth approximately $94,000. Finally, Apollon Wealth Management LLC purchased a new position in shares of Tilray Brands during the first quarter worth approximately $96,000. 9.35% of the stock is owned by hedge funds and other institutional investors.

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.