Tilray Brands (NASDAQ:TLRY) Trading Up 12.4% – Still a Buy?

Tilray Brands, Inc. (NASDAQ:TLRY)’s share price was up 12.4% during trading on Tuesday . The company traded as high as $8.18 and last traded at $8.09. Approximately 8,581,042 shares traded hands during trading, an increase of 70% from the average daily volume of 5,055,314 shares. The stock had previously closed at $7.20.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TLRY. Atb Cap Markets downgraded Tilray Brands from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Tilray Brands in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Saturday, October 11th. Finally, Jefferies Financial Group increased their target price on shares of Tilray Brands from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, August 25th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $20.00.

Tilray Brands Trading Up 12.4%

The company has a debt-to-equity ratio of 0.15, a current ratio of 2.62 and a quick ratio of 1.56. The business’s 50 day moving average is $12.85 and its 200 day moving average is $9.62. The stock has a market cap of $908.39 million, a price-to-earnings ratio of -0.36 and a beta of 1.76.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Tudor Investment Corp ET AL purchased a new stake in Tilray Brands during the third quarter worth approximately $518,000. Swiss Life Asset Management Ltd raised its holdings in Tilray Brands by 222.9% during the third quarter. Swiss Life Asset Management Ltd now owns 42,503 shares of the company’s stock worth $74,000 after purchasing an additional 29,339 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in Tilray Brands by 99,204,800.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 992,049 shares of the company’s stock worth $1,716,000 after purchasing an additional 992,048 shares in the last quarter. Sassicaia Capital Advisers LLC purchased a new stake in shares of Tilray Brands during the 3rd quarter worth approximately $401,000. Finally, Scientech Research LLC purchased a new stake in shares of Tilray Brands during the 3rd quarter worth approximately $1,748,000. Hedge funds and other institutional investors 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.