Tilray Brands, Inc. (NASDAQ:TLRY) Receives Average Rating of “Hold” from Analysts

Shares of Tilray Brands, Inc. (NASDAQ:TLRY) have earned an average recommendation of “Hold” from the eight research firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $11.00.

A number of equities research analysts have issued reports on the company. Weiss Ratings downgraded Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 13th. TD Cowen cut their price target on Tilray Brands from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, July 14th. ATB Cormark Capital Markets reduced their price objective on shares of Tilray Brands from $9.50 to $9.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 2nd. Finally, Roth Capital raised Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a report on Thursday, April 2nd.

Institutional Trading of Tilray Brands

Large investors have recently made changes to their positions in the business. Tidal Investments LLC increased its stake in Tilray Brands by 15.0% in the second quarter. Tidal Investments LLC now owns 28,971,835 shares of the company’s stock worth $12,006,000 after purchasing an additional 3,776,410 shares during the period. Millennium Management LLC boosted its stake in shares of Tilray Brands by 281.0% during the third quarter. Millennium Management LLC now owns 4,942,319 shares of the company’s stock valued at $8,550,000 after purchasing an additional 3,645,060 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Tilray Brands in the third quarter worth about $5,813,000. Ausdal Financial Partners Inc. bought a new position in shares of Tilray Brands in the second quarter worth about $939,000. Finally, Swiss National Bank increased its stake in Tilray Brands by 4.4% in the 3rd quarter. Swiss National Bank now owns 2,013,038 shares of the company’s stock worth $3,483,000 after buying an additional 84,900 shares during the period. 9.35% of the stock is currently owned by institutional investors.

Tilray Brands Stock Performance

Shares of Tilray Brands stock opened at $4.23 on Tuesday. Tilray Brands has a 12 month low of $4.20 and a 12 month high of $23.20. The firm has a market capitalization of $493.01 million, a P/E ratio of -0.31 and a beta of 1.89. The business has a fifty day simple moving average of $4.90 and a two-hundred day simple moving average of $6.56. The company has a current ratio of 2.79, a quick ratio of 1.66 and a debt-to-equity ratio of 0.19.

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.