Tilray Brands (NASDAQ:TLRY) Trading Down 1.6% – Should You Sell?

Tilray Brands, Inc. (NASDAQ:TLRY) shares were down 1.6% during trading on Tuesday . The company traded as low as $4.26 and last traded at $4.31. Approximately 3,399,855 shares traded hands during mid-day trading, a decline of 20% from the average session volume of 4,272,919 shares. The stock had previously closed at $4.38.

Analyst Ratings Changes

TLRY has been the subject of a number of research analyst reports. Weiss Ratings cut Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 13th. Wall Street Zen upgraded Tilray Brands from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Roth Capital upgraded Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a research report on Thursday, April 2nd. ATB Cormark Capital Markets lowered their target price on Tilray Brands from $9.50 to $9.00 and set a “sector perform” rating for the company in a research note on Thursday, April 2nd. Finally, TD Cowen dropped their target price on shares of Tilray Brands from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Monday, March 30th. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $11.50.

Tilray Brands Price Performance

The company has a market capitalization of $502.33 million, a P/E ratio of -0.32 and a beta of 1.89. The company’s 50-day moving average price is $5.24 and its two-hundred day moving average price is $7.00. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.79 and a quick ratio of 1.66.

Insider Activity at Tilray Brands

In other news, Director David G. Hopkinson sold 33,556 shares of the stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $6.94, for a total transaction of $232,878.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Hilton Head Capital Partners LLC acquired a new position in Tilray Brands in the fourth quarter valued at $38,000. Pictet Asset Management Holding SA lifted its stake in shares of Tilray Brands by 38.9% in the 1st quarter. Pictet Asset Management Holding SA now owns 18,387 shares of the company’s stock valued at $119,000 after purchasing an additional 5,145 shares during the period. Schonfeld Strategic Advisors LLC boosted its position in shares of Tilray Brands by 4.5% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 144,358 shares of the company’s stock valued at $1,304,000 after purchasing an additional 6,182 shares in the last quarter. Baader Bank Aktiengesellschaft boosted its position in shares of Tilray Brands by 17.7% during the 1st quarter. Baader Bank Aktiengesellschaft now owns 47,938 shares of the company’s stock valued at $293,000 after purchasing an additional 7,226 shares in the last quarter. Finally, IFP Advisors Inc grew its stake in Tilray Brands by 14.3% during the fourth quarter. IFP Advisors Inc now owns 60,318 shares of the company’s stock worth $545,000 after purchasing an additional 7,541 shares during the period. Institutional investors own 9.35% of the company’s stock.

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.