Tilray Brands (NASDAQ:TLRY) Trading 1.4% Higher – What’s Next?

Tilray Brands, Inc. (NASDAQ:TLRY)’s share price was up 1.4% during mid-day trading on Wednesday . The stock traded as high as $4.44 and last traded at $4.37. Approximately 3,963,360 shares were traded during mid-day trading, a decline of 7% from the average session volume of 4,274,436 shares. The stock had previously closed at $4.31.

Analyst Upgrades and Downgrades

TLRY has been the topic of several recent research reports. Weiss Ratings lowered shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 13th. Wall Street Zen raised Tilray Brands from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. TD Cowen decreased their target price on Tilray Brands from $10.00 to $7.00 and set a “buy” rating for the company in a research report on Monday, March 30th. ATB Cormark Capital Markets dropped their target price on Tilray Brands from $9.50 to $9.00 and set a “sector perform” rating on the stock in a report on Thursday, April 2nd. Finally, Roth Capital raised Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Thursday, April 2nd. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $11.50.

Tilray Brands Price Performance

The stock has a market cap of $509.32 million, a PE ratio of -0.32 and a beta of 1.89. The company has a current ratio of 2.79, a quick ratio of 1.66 and a debt-to-equity ratio of 0.19. The company’s 50 day moving average is $5.19 and its 200-day moving average is $6.94.

Insider Buying and Selling at Tilray Brands

In other news, Director David G. Hopkinson sold 33,556 shares of Tilray Brands stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $6.94, for a total transaction of $232,878.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.84% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tilray Brands

Hedge funds have recently bought and sold shares of the business. Essential Partners LLC increased its holdings in Tilray Brands by 110,137.5% during the 1st quarter. Essential Partners LLC now owns 8,819 shares of the company’s stock worth $57,000 after purchasing an additional 8,811 shares during the last quarter. Entropy Technologies LP purchased a new position in shares of Tilray Brands during the 1st quarter valued at approximately $123,000. Baader Bank Aktiengesellschaft boosted its stake in shares of Tilray Brands by 17.7% during the 1st quarter. Baader Bank Aktiengesellschaft now owns 47,938 shares of the company’s stock valued at $293,000 after buying an additional 7,226 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Tilray Brands by 82.9% during the first quarter. Dimensional Fund Advisors LP now owns 87,803 shares of the company’s stock worth $568,000 after buying an additional 39,801 shares in the last quarter. Finally, Swiss National Bank grew its position in shares of Tilray Brands by 4.1% during the first quarter. Swiss National Bank now owns 230,503 shares of the company’s stock worth $1,491,000 after buying an additional 9,100 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.