Tilray Brands (NASDAQ:TLRY) Shares Set to Reverse Split on Tuesday, December 2nd

Tilray Brands, Inc. (NASDAQ:TLRY) shares are going to reverse split on the morning of Tuesday, December 2nd. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Monday, December 1st.

Tilray Brands Stock Up 4.8%

TLRY stock opened at $1.03 on Friday. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of -0.45 and a beta of 2.04. The company has a 50-day moving average of $1.36 and a two-hundred day moving average of $0.94. Tilray Brands has a 52-week low of $0.35 and a 52-week high of $2.32. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.62 and a quick ratio of 1.56.

Analyst Ratings Changes

Several brokerages recently weighed in on TLRY. Atb Cap Markets downgraded Tilray Brands from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 9th. Jefferies Financial Group upped their price target on Tilray Brands from $1.50 to $2.00 and gave the stock a “buy” rating in a report on Monday, August 25th. Weiss Ratings restated 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 analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Tilray Brands currently has a consensus rating of “Hold” and an average target price of $2.00.

Institutional Trading of Tilray Brands

A number of hedge funds have recently modified their holdings of TLRY. Silverlake Wealth Management LLC acquired a new stake in shares of Tilray Brands during the 3rd quarter worth approximately $25,000. Oppenheimer & Co. Inc. acquired a new stake in Tilray Brands during the third quarter worth $25,000. Unified Investment Management acquired a new stake in Tilray Brands during the third quarter worth $26,000. J.W. Cole Advisors Inc. increased its holdings in Tilray Brands by 203.2% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 71,890 shares of the company’s stock valued at $30,000 after buying an additional 48,177 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Tilray Brands in the 3rd quarter valued at $30,000. Institutional investors own 9.35% of the company’s stock.

About Tilray Brands

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.