Analysts Set Tilray Brands, Inc. (NASDAQ:TLRY) Target Price at $20.00

Shares of Tilray Brands, Inc. (NASDAQ:TLRY) have earned a consensus recommendation of “Hold” from the seven ratings firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $20.00.

TLRY has been the subject of a number of research reports. Wall Street Zen upgraded Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Saturday, October 11th. Atb Cap Markets raised Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 10th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Tilray Brands in a research note on Wednesday, October 8th.

Institutional Trading of Tilray Brands

Hedge funds have recently added to or reduced their stakes in the business. Tidal Investments LLC boosted its holdings in Tilray Brands by 15.0% during the 2nd quarter. Tidal Investments LLC now owns 28,971,835 shares of the company’s stock valued at $12,006,000 after acquiring an additional 3,776,410 shares during the period. Millennium Management LLC lifted its position in Tilray Brands by 281.0% in the third quarter. Millennium Management LLC now owns 4,942,319 shares of the company’s stock valued at $8,550,000 after purchasing an additional 3,645,060 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Tilray Brands during the third quarter valued at approximately $5,813,000. Ausdal Financial Partners Inc. bought a new position in shares of Tilray Brands in the second quarter worth approximately $939,000. Finally, Swiss National Bank grew its holdings in shares of Tilray Brands by 4.4% in the third quarter. Swiss National Bank now owns 2,013,038 shares of the company’s stock worth $3,483,000 after purchasing an additional 84,900 shares during the last quarter. 9.35% of the stock is owned by institutional investors.

Tilray Brands Stock Down 5.4%

Shares of NASDAQ:TLRY opened at $9.60 on Friday. The firm has a market capitalization of $1.08 billion, a PE ratio of -0.42 and a beta of 1.76. 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 52-week low of $3.51 and a 52-week high of $23.20. The firm has a fifty day moving average of $11.12 and a 200 day moving average of $10.25.

About Tilray Brands

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.