Tilray Brands (TSE:TLRY) Trading Up 13.1% – Here’s What Happened

Tilray Brands, Inc. (TSE:TLRY)’s share price rose 13.1% during mid-day trading on Thursday . The stock traded as high as C$21.57 and last traded at C$20.17. Approximately 837,606 shares changed hands during mid-day trading, an increase of 163% from the average daily volume of 319,077 shares. The stock had previously closed at C$17.83.

Wall Street Analysts Forecast Growth

Separately, Sanford C. Bernstein upped their target price on shares of Tilray Brands from C$13.00 to C$13.60 in a research report on Friday.

Tilray Brands Trading Down 9.7%

The business has a 50 day moving average of C$16.38 and a 200 day moving average of C$13.80. The company has a debt-to-equity ratio of 10.76, a current ratio of 2.54 and a quick ratio of 2.16. The firm has a market capitalization of C$1.78 billion, a price-to-earnings ratio of -0.63 and a beta of 3.56.

About Tilray Brands

Tilray is a Canadian producer that cultivates and sells medical and recreational cannabis. In 2021, legacy Aphria acquired legacy Tilray in a reverse merger and renamed itself Tilray. The bulk of its sales are in Canada and in the international medical cannabis export market. U.S. exposure consists of CBD products through Manitoba Harvest and beer through SweetWater.