Tilray Brands, Inc. (NASDAQ:TLRY) Receives $11.50 Consensus Target Price from Analysts

Shares of Tilray Brands, Inc. (NASDAQ:TLRY) have received a consensus recommendation of “Hold” from the eight brokerages that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $11.00.

TLRY has been the subject of several research analyst reports. ATB Cormark Capital Markets dropped their price target on Tilray Brands from $9.50 to $9.00 and set a “sector perform” rating for the company in a research note on Thursday, April 2nd. TD Cowen reduced their price objective on Tilray Brands from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, July 14th. Weiss Ratings cut Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 13th. Wall Street Zen raised shares of Tilray Brands from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Finally, Roth Capital upgraded shares of Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Thursday, April 2nd.

Insider Activity

In other news, Director David G. Hopkinson sold 33,556 shares of the firm’s stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $6.94, for a total value of $232,878.64. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.84% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Tidal Investments LLC raised its holdings in shares of Tilray Brands by 15.0% during the 2nd quarter. Tidal Investments LLC now owns 28,971,835 shares of the company’s stock valued at $12,006,000 after buying an additional 3,776,410 shares during the period. Millennium Management LLC lifted its position 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 worth $8,550,000 after purchasing an additional 3,645,060 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Tilray Brands during the third quarter worth $5,813,000. Ausdal Financial Partners Inc. purchased a new position in shares of Tilray Brands in the second quarter valued at $939,000. Finally, Swiss National Bank grew its holdings in Tilray Brands by 4.4% during the 3rd quarter. Swiss National Bank now owns 2,013,038 shares of the company’s stock valued at $3,483,000 after purchasing an additional 84,900 shares in the last quarter. Institutional investors and hedge funds own 9.35% of the company’s stock.

Tilray Brands Trading Down 1.1%

Shares of TLRY opened at $4.30 on Tuesday. Tilray Brands has a twelve month low of $4.20 and a twelve month high of $23.20. The firm has a market capitalization of $501.17 million, a P/E ratio of -0.32 and a beta of 1.89. The company has a current ratio of 2.79, a quick ratio of 1.66 and a debt-to-equity ratio of 0.19. The stock’s fifty day simple moving average is $4.92 and its 200 day simple moving average is $6.61.

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.