Tilray Brands (NASDAQ:TLRY) Trading Up 1.1% – Here’s Why

Tilray Brands, Inc. (NASDAQ:TLRY) shares were up 1.1% during trading on Tuesday . The stock traded as high as $10.95 and last traded at $10.53. Approximately 13,330,773 shares traded hands during mid-day trading, an increase of 115% from the average daily volume of 6,200,304 shares. The stock had previously closed at $10.42.

Analyst Upgrades and Downgrades

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

Tilray Brands Stock Up 1.1%

The company has a market cap of $1.18 billion, a PE ratio of -0.46 and a beta of 1.76. The stock has a 50-day moving average of $11.59 and a 200-day moving average of $10.09. The company has a quick ratio of 1.56, a current ratio of 2.62 and a debt-to-equity ratio of 0.15.

Institutional Trading of Tilray Brands

A number of large investors have recently modified their holdings of the business. Tidal Investments LLC increased its position in shares of 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 last quarter. Millennium Management LLC lifted its position in 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Tilray Brands in the 3rd quarter worth approximately $5,813,000. Ausdal Financial Partners Inc. purchased a new position in Tilray Brands in the 2nd quarter worth approximately $939,000. Finally, Scientech Research LLC bought a new position in shares of Tilray Brands in the 3rd quarter worth $1,748,000. Institutional investors own 9.35% of the company’s stock.

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.