Tilray Brands (NASDAQ:TLRY) Trading 2.1% Higher – Here’s What Happened

Tilray Brands, Inc. (NASDAQ:TLRY)’s share price rose 2.1% during trading on Wednesday . The stock traded as high as $8.64 and last traded at $8.26. Approximately 6,370,967 shares changed hands during trading, an increase of 26% from the average daily volume of 5,059,056 shares. The stock had previously closed at $8.09.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Atb Cap Markets cut Tilray Brands from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tilray Brands in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Saturday, October 11th. Finally, Jefferies Financial Group raised their price target on shares of Tilray Brands from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, August 25th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $20.00.

Tilray Brands Price Performance

The business has a 50-day moving average price of $12.66 and a two-hundred day moving average price of $9.65. The company has a quick ratio of 1.56, a current ratio of 2.62 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $927.52 million, a price-to-earnings ratio of -0.36 and a beta of 1.76.

Institutional Investors Weigh In On Tilray Brands

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Silverlake Wealth Management LLC acquired a new stake in shares of Tilray Brands in the 3rd quarter worth about $25,000. Oppenheimer & Co. Inc. bought a new stake in Tilray Brands during the 3rd quarter worth approximately $25,000. Unified Investment Management purchased a new stake in shares of Tilray Brands in the third quarter worth approximately $26,000. J.W. Cole Advisors Inc. raised its stake in shares of Tilray Brands by 203.2% in the second quarter. J.W. Cole Advisors Inc. now owns 71,890 shares of the company’s stock worth $30,000 after purchasing an additional 48,177 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Tilray Brands in the third quarter valued at approximately $30,000. 9.35% of the stock is owned by institutional investors.

Tilray Brands Company Profile

Tilray, Inc engages in the research, cultivation, processing, and distribution of medical cannabis. The company offers its products in Argentina, Australia, Canada, Chile, Croatia, Cyprus, the Czech Republic, Germany, New Zealand, and South Africa. Tilray, Inc is headquartered in Canada.