Tilray Brands (NASDAQ:TLRY) Trading Up 27.5% – Still a Buy?

Tilray Brands, Inc. (NASDAQ:TLRY) was up 27.5% on Tuesday . The stock traded as high as $14.55 and last traded at $13.94. Approximately 46,997,912 shares were traded during mid-day trading, an increase of 721% from the average daily volume of 5,721,580 shares. The stock had previously closed at $10.93.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Wall Street Zen raised Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Saturday, October 11th. Jefferies Financial Group lifted their price target on Tilray Brands from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, August 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tilray Brands in a research report on Wednesday, October 8th. Finally, Atb Cap Markets raised shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 10th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Tilray Brands has a consensus rating of “Hold” and a consensus target price of $20.00.

Tilray Brands Trading Up 27.5%

The business has a 50-day moving average of $12.17 and a 200 day moving average of $9.80. The stock has a market cap of $1.57 billion, a PE ratio of -0.61 and a beta of 1.76. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.56 and a current ratio of 2.62.

Hedge Funds Weigh In On Tilray Brands

Several institutional investors and hedge funds have recently modified their holdings of TLRY. Swiss National Bank boosted its position in Tilray Brands by 2.3% during the first quarter. Swiss National Bank now owns 1,816,638 shares of the company’s stock worth $1,194,000 after acquiring an additional 40,000 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Tilray Brands by 30.4% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 527,995 shares of the company’s stock worth $345,000 after purchasing an additional 122,969 shares during the period. Zuckerman Investment Group LLC purchased a new position in shares of Tilray Brands during the 1st quarter worth $33,000. State of Wyoming boosted its holdings in shares of Tilray Brands by 133.0% during the first quarter. State of Wyoming now owns 241,165 shares of the company’s stock worth $159,000 after purchasing an additional 137,676 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Tilray Brands by 1,839.7% in the first quarter. AQR Capital Management LLC now owns 607,054 shares of the company’s stock valued at $399,000 after purchasing an additional 575,757 shares during the period. Hedge funds and other institutional investors own 9.35% of the company’s stock.

About Tilray Brands

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.