Tilray Brands (NASDAQ:TLRY) Price Target Lowered to $5.00 at TD Cowen

Tilray Brands (NASDAQ:TLRY) had its target price reduced by equities research analysts at TD Cowen from $7.00 to $5.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s target price would suggest a potential upside of 15.34% from the company’s current price.

A number of other equities research analysts also recently weighed in on the stock. Weiss Ratings downgraded shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 13th. Wall Street Zen upgraded shares of Tilray Brands from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. 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 for the company in a report on Thursday, April 2nd. Finally, Roth Capital raised shares of Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a research note on Thursday, April 2nd. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Tilray Brands presently has an average rating of “Hold” and a consensus target price of $11.00.

Tilray Brands Stock Performance

Shares of TLRY traded down $0.12 on Tuesday, reaching $4.33. 1,694,155 shares of the stock traded hands, compared to its average volume of 4,234,025. The stock’s 50-day moving average price is $5.03 and its 200-day moving average price is $6.75. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.79 and a quick ratio of 1.66. The firm has a market cap of $505.24 million, a price-to-earnings ratio of -0.32 and a beta of 1.89. Tilray Brands has a 12 month low of $4.20 and a 12 month high of $23.20.

Insider Transactions at Tilray Brands

In other Tilray Brands news, Director David G. Hopkinson sold 33,556 shares of the stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $6.94, for a total transaction of $232,878.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.84% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tilray Brands

A number of hedge funds have recently made changes to their positions in TLRY. Essential Partners LLC lifted its holdings in Tilray Brands by 110,137.5% during the 1st quarter. Essential Partners LLC now owns 8,819 shares of the company’s stock valued at $57,000 after purchasing an additional 8,811 shares during the last quarter. Entropy Technologies LP bought a new stake in Tilray Brands during the first quarter worth about $123,000. Baader Bank Aktiengesellschaft increased its holdings in shares of Tilray Brands by 17.7% during the first quarter. Baader Bank Aktiengesellschaft now owns 47,938 shares of the company’s stock worth $293,000 after buying an additional 7,226 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Tilray Brands by 82.9% during the first quarter. Dimensional Fund Advisors LP now owns 87,803 shares of the company’s stock worth $568,000 after buying an additional 39,801 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of Tilray Brands by 4.1% in the first quarter. Swiss National Bank now owns 230,503 shares of the company’s stock valued at $1,491,000 after acquiring an additional 9,100 shares during the last quarter. Institutional investors and hedge funds own 9.35% of the company’s stock.

About Tilray Brands

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.