Tilray Brands (TSE:TLRY) Shares Up 6.9% – Should You Buy?

Shares of Tilray Brands, Inc. (TSE:TLRY) shot up 6.9% on Thursday . The company traded as high as C$9.26 and last traded at C$9.15. 997,408 shares traded hands during mid-day trading, an increase of 100% from the average session volume of 499,692 shares. The stock had previously closed at C$8.56.

Analysts Set New Price Targets

A number of research firms have issued reports on TLRY. Sanford C. Bernstein boosted their price target on Tilray Brands from C$13.00 to C$13.60 in a research note on Friday, December 19th. Canaccord Genuity Group set a C$13.00 price objective on shares of Tilray Brands and gave the stock a “hold” rating in a research note on Tuesday, January 27th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of C$13.30.

Tilray Brands Stock Up 6.9%

The company’s 50 day moving average price is C$10.02 and its two-hundred day moving average price is C$14.19. The company has a current ratio of 2.81, a quick ratio of 2.16 and a debt-to-equity ratio of 20.23. The firm has a market cap of C$1.06 billion, a PE ratio of -0.39 and a beta of 3.23.

Tilray Brands Company Profile

Tilray Brands, Inc (‘Tilray’) (Nasdaq: TLRY; TSX: TLRY), is a global lifestyle and consumer packaged goods company at the forefront of beverage, cannabis and wellness industries with operations in Canada, the United States, Europe, Australia, and Latin America that is leading as a transformative force at the nexus of cannabis, beverage, wellness, and entertainment, elevating lives through moments of connection. Tilray’s mission is to be a leading premium lifestyle company with a house of brands and innovative products that inspire joy, wellness and create memorable experiences.