Tilray Brands (NASDAQ:TLRY) Trading Up 6.5% – What’s Next?

Tilray Brands, Inc. (NASDAQ:TLRY) traded up 6.5% on Monday . The stock traded as high as $1.01 and last traded at $0.9650. 35,237,431 shares changed hands during trading, a decline of 29% from the average session volume of 49,739,727 shares. The stock had previously closed at $0.9059.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TLRY. Atb Cap Markets cut Tilray Brands from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 9th. Jefferies Financial Group boosted their price objective on shares of Tilray Brands from $1.50 to $2.00 and gave the stock a “buy” rating in a research report on Monday, August 25th. Zelman & Associates reaffirmed a “neutral” rating on shares of Tilray Brands in a research report on Tuesday, July 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tilray Brands in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Saturday, October 11th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $2.00.

Tilray Brands Stock Performance

The stock has a market cap of $1.08 billion, a PE ratio of -0.43 and a beta of 2.04. The stock has a fifty day moving average of $1.37 and a 200-day moving average of $0.94. 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 Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Integrated Wealth Concepts LLC raised its stake in shares of Tilray Brands by 33.8% during the third quarter. Integrated Wealth Concepts LLC now owns 36,977 shares of the company’s stock worth $64,000 after purchasing an additional 9,341 shares during the last quarter. CreativeOne Wealth LLC increased its stake in Tilray Brands by 12.2% in the 3rd quarter. CreativeOne Wealth LLC now owns 87,134 shares of the company’s stock valued at $151,000 after buying an additional 9,452 shares during the period. Dudley Capital Management LLC increased its stake in Tilray Brands by 73.3% in the 3rd quarter. Dudley Capital Management LLC now owns 26,000 shares of the company’s stock valued at $45,000 after buying an additional 11,000 shares during the period. Arizona State Retirement System raised its position in Tilray Brands by 4.3% during the 3rd quarter. Arizona State Retirement System now owns 307,193 shares of the company’s stock worth $531,000 after buying an additional 12,675 shares during the last quarter. Finally, Brighton Jones LLC lifted its stake in shares of Tilray Brands by 28.3% in the 3rd quarter. Brighton Jones LLC now owns 59,510 shares of the company’s stock worth $103,000 after acquiring an additional 13,137 shares during the period. Institutional investors and hedge funds own 9.35% of the company’s stock.

Tilray Brands Company Profile

Tilray, Inc engages in the research, cultivation, processing, and distribution of medical cannabis. The company offers its products in Argentina, Australia, Canada, Chile, Croatia, Cyprus, the Czech Republic, Germany, New Zealand, and South Africa. Tilray, Inc is headquartered in Canada.