Tilray Brands (NASDAQ:TLRY) Stock Price Up 2.1% on Analyst Upgrade

by · The Cerbat Gem

Tilray Brands, Inc. (NASDAQ:TLRY – Get Free Report)’s share price shot up 2.1% during mid-day trading on Wednesday after Atb Cap Markets upgraded the stock from a strong sell rating to a hold rating. The stock traded as high as $8.64 and last traded at $8.26. 6,370,967 shares changed hands during mid-day trading, an increase of 26% from the average session volume of 5,059,056 shares. The stock had previously closed at $8.09.

Other research analysts have also issued research reports about the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tilray Brands in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research note 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 research report on Monday, August 25th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $20.00.

Check Out Our Latest Report on Tilray Brands

Institutional Investors Weigh In On Tilray Brands

Institutional investors have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC grew its holdings in shares of Tilray Brands by 33.8% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 36,977 shares of the company’s stock worth $64,000 after purchasing an additional 9,341 shares during the last quarter. CreativeOne Wealth LLC boosted its position in shares of Tilray Brands by 12.2% in 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 position in shares of Tilray Brands by 73.3% during the 3rd quarter. Dudley Capital Management LLC now owns 26,000 shares of the company’s stock worth $45,000 after buying an additional 11,000 shares during the period. Arizona State Retirement System raised its stake in Tilray Brands by 4.3% during the 3rd quarter. Arizona State Retirement System now owns 307,193 shares of the company’s stock worth $531,000 after buying an additional 12,675 shares during the period. Finally, Brighton Jones LLC boosted its holdings in shares of 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 period. 9.35% of the stock is owned by institutional investors and hedge funds.

Tilray Brands Stock Performance

The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.56 and a current ratio of 2.62. The stock has a market cap of $1.36 billion, a P/E ratio of -0.54 and a beta of 1.76. The stock has a fifty day simple moving average of $12.26 and a 200-day simple moving average of $9.69.

Tilray Brands Company Profile

(Get Free Report)

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.

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