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

Tilray Brands, Inc. (NASDAQ:TLRY) has received an average rating of “Hold” from the eight research firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $11.50.

A number of equities research analysts have issued reports on the stock. Roth Capital upgraded shares of Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 price objective on the stock in a research note on Thursday, April 2nd. ATB Cormark Capital Markets cut their price target on shares of Tilray Brands from $9.50 to $9.00 and set a “sector perform” rating for the company in a report on Thursday, April 2nd. Weiss Ratings downgraded shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 13th. TD Cowen reduced their price target on shares of Tilray Brands from $10.00 to $7.00 and set a “buy” rating on the stock in a research report on Monday, March 30th. Finally, Wall Street Zen raised shares of Tilray Brands from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st.

Tilray Brands Stock Up 0.9%

TLRY stock opened at $4.46 on Tuesday. The company has a market cap of $519.81 million, a PE ratio of -0.33 and a beta of 1.89. The business has a 50-day simple moving average of $5.03 and a 200 day simple moving average of $6.75. Tilray Brands has a 52 week low of $4.20 and a 52 week high of $23.20. The company has a quick ratio of 1.66, a current ratio of 2.79 and a debt-to-equity ratio of 0.19.

Insider Buying and Selling at Tilray Brands

In other Tilray Brands news, Director David G. Hopkinson sold 33,556 shares of the firm’s stock in a transaction on Tuesday, April 21st. The stock was 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 available at this link. Corporate insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On Tilray Brands

A number of institutional investors have recently modified their holdings of TLRY. AQR Capital Management LLC lifted its position in shares of Tilray Brands by 1,839.7% during the 1st quarter. AQR Capital Management LLC now owns 607,054 shares of the company’s stock worth $399,000 after buying an additional 575,757 shares during the last quarter. XTX Topco Ltd bought a new position in Tilray Brands in the second quarter valued at about $112,000. Cerity Partners LLC grew its position in Tilray Brands by 98.5% in the second quarter. Cerity Partners LLC now owns 92,560 shares of the company’s stock valued at $38,000 after acquiring an additional 45,929 shares during the last quarter. Ausdal Financial Partners Inc. acquired a new position in Tilray Brands during the second quarter worth about $939,000. Finally, Bank of America Corp DE raised its stake in Tilray Brands by 26.5% during the second quarter. Bank of America Corp DE now owns 311,810 shares of the company’s stock worth $129,000 after acquiring an additional 65,379 shares in the last quarter. Institutional investors and hedge funds own 9.35% of the company’s stock.

Tilray Brands Company Profile

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.