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

Tilray Brands, Inc. (NASDAQ:TLRY) shares shot up 6.5% during trading 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 Ratings Changes

TLRY has been the subject of a number of research reports. Jefferies Financial Group lifted their price objective on Tilray Brands from $1.50 to $2.00 and gave the company a “buy” rating in a research note on Monday, August 25th. Atb Cap Markets downgraded Tilray Brands from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 9th. Wall Street Zen upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Saturday, October 11th. Zelman & Associates reissued a “neutral” rating on shares of Tilray Brands in a research note on Tuesday, July 29th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Tilray Brands in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $2.00.

Tilray Brands Trading Up 6.5%

The company has a current ratio of 2.62, a quick ratio of 1.56 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.08 billion, a PE ratio of -0.43 and a beta of 2.04. The company has a fifty day simple moving average of $1.37 and a two-hundred day simple moving average of $0.94.

Institutional Trading of Tilray Brands

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