Tilray Brands, Inc. $TLRY Shares Sold by Bank of Montreal Can

Key Points

• Bank of Montreal cut its stake in Tilray by 91.5% in Q2, selling 2,478,386 shares and leaving 230,432 shares worth about $95,000.
• Analysts are mixed but consensus is a "Hold" with a $2.00 target (two Buy, three Hold, two Sell); Jefferies recently raised its target to $2.00 and kept a Buy rating.
• Tilray stock opened at $0.91, has a market cap of about $1.02 billion, a 12‑month range of $0.35–$2.32, and a negative trailing PE of -0.40.

Bank of Montreal Can reduced its holdings in Tilray Brands, Inc. (NASDAQ:TLRY - Free Report) by 91.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 230,432 shares of the company's stock after selling 2,478,386 shares during the quarter. Bank of Montreal Can's holdings in Tilray Brands were worth $95,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Cerity Partners LLC acquired a new position in shares of Tilray Brands during the first quarter valued at $31,000. Zuckerman Investment Group LLC acquired a new position in Tilray Brands during the 1st quarter valued at about $33,000. Fifth Lane Capital LP raised its position in shares of Tilray Brands by 400.0% during the 1st quarter. Fifth Lane Capital LP now owns 50,000 shares of the company's stock worth $33,000 after buying an additional 40,000 shares in the last quarter. Stratos Wealth Partners LTD. lifted its stake in shares of Tilray Brands by 704.5% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 81,272 shares of the company's stock worth $34,000 after acquiring an additional 71,170 shares during the period. Finally, Wealthspire Advisors LLC bought a new position in shares of Tilray Brands in the first quarter valued at approximately $66,000. Institutional investors and hedge funds own 9.35% of the company's stock.

Wall Street Analyst Weigh In

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

Tilray Brands Stock Up 0.8%

Tilray Brands stock opened at $0.91 on Friday. The firm's 50 day moving average price is $1.38 and its two-hundred day moving average price is $0.93. The firm has a market cap of $1.02 billion, a PE ratio of -0.40 and a beta of 2.04. Tilray Brands, Inc. has a twelve month low of $0.35 and a twelve month high of $2.32. 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 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.

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