Tilray Brands (TSE:TLRY) Stock Price Down 1.1% - Should You Sell?

Tilray Brands, Inc. (TSE:TLRY) saw its share price decrease by 1.1% on Tuesday, with stocks trading at a low of C$0.92 before closing at C$0.93. The trading volume was significantly lower, with 499,638 shares exchanged during the day compared to the average of 1,529,435 shares, marking a decrease of 67%. The previous closing price was C$0.94, indicating a slight dip in market confidence.

Tilray Brands Price Performance

• Tilray has shown growth in its Q3 earnings despite facing several challenges.

The company's financial metrics reveal a current ratio of 2.54 and a quick ratio of 2.16, suggesting a sound liquidity position. However, it has a notably high debt-to-equity ratio of 10.76, which may raise concerns about its financial leverage. The average price of the stock over the last 50 days is C$1.20, while the 200-day average stands at C$1.75, indicating that the stock may be trading below its historical averages. Tilray Brands boasts a market capitalization of C$599.26 million and currently has a price-to-earnings (PE) ratio of -2.25, with a beta value of 2.19, suggesting higher volatility compared to the market.

About Tilray Brands

Tilray is a Canadian cannabis producer engaged in the cultivation and sale of both medical and recreational cannabis products. The company was formed in 2021 following the merger of Aphria and Tilray, and it primarily derives revenue from operations in Canada and international medical cannabis exports. In the U.S., Tilray is involved in the CBD market through its subsidiary Manitoba Harvest and has a beer production arm called SweetWater.

Investment Considerations

Before considering an investment of $1,000 in Tilray Brands, it's essential to evaluate the current market sentiment. While analysts have assigned a Hold rating to Tilray, several top-performing analysts have identified other stocks that they believe offer better investment opportunities at this time. Therefore, potential investors may want to review these alternatives before making a decision.

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