Tilray Brands, Inc. (NASDAQ:TLRY) Given Average Recommendation of “Hold” by Brokerages

Shares of Tilray Brands, Inc. (NASDAQ:TLRY) have received an average rating of “Hold” from the seven analysts that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $2.00.

TLRY has been the subject of several recent analyst reports. Atb Cap Markets downgraded shares of Tilray Brands from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 9th. Jefferies Financial Group raised their price objective on Tilray Brands from $1.50 to $2.00 and gave the stock a “buy” rating in a research report on Monday, August 25th. Wall Street Zen upgraded Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Saturday, October 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Tilray Brands in a research note on Wednesday, October 8th.

Tilray Brands Stock Down 20.0%

NASDAQ:TLRY opened at $0.82 on Monday. The company’s 50-day simple moving average is $1.35 and its 200-day simple moving average is $0.95. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.56 and a current ratio of 2.62. Tilray Brands has a fifty-two week low of $0.35 and a fifty-two week high of $2.32. The stock has a market capitalization of $925.24 million, a P/E ratio of -0.36 and a beta of 1.76.

Tilray Brands’s stock is scheduled to reverse split before the market opens on Tuesday, December 2nd. The 1-10 reverse split was announced on Wednesday, November 26th. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, December 1st.

Institutional Trading of Tilray Brands

A number of institutional investors have recently bought and sold shares of TLRY. TD Asset Management Inc grew its position in Tilray Brands by 6.5% during the 1st quarter. TD Asset Management Inc now owns 1,627,247 shares of the company’s stock worth $1,063,000 after purchasing an additional 100,017 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Tilray Brands by 49.9% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 168,189 shares of the company’s stock worth $111,000 after buying an additional 55,981 shares during the period. Wealthspire Advisors LLC purchased a new stake in shares of Tilray Brands during the first quarter valued at $66,000. Swiss National Bank increased its position in shares of Tilray Brands by 2.3% in the 1st quarter. Swiss National Bank now owns 1,816,638 shares of the company’s stock valued at $1,194,000 after acquiring an additional 40,000 shares during the period. Finally, Fifth Lane Capital LP increased its position in shares of Tilray Brands by 400.0% in the 1st quarter. Fifth Lane Capital LP now owns 50,000 shares of the company’s stock valued at $33,000 after acquiring an additional 40,000 shares during the period. 9.35% of the stock is currently owned by institutional investors and hedge funds.

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.