Tilray Brands, Inc. (NASDAQ:TLRY) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Analysts give Tilray Brands a consensus "Hold" rating from seven firms (2 sell, 3 hold, 2 buy) with an average 12‑month price target of $2.00.
• The company will execute a 1-for-10 reverse split that takes effect on the morning of December 2, with shareholders' holdings adjusted after the close on December 1.
• Hedge funds and institutions have been active—Tidal Investments and Millennium Management notably added large positions—and institutional investors own about 9.35% of the stock.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) has been given an average recommendation of "Hold" by the seven ratings firms that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $2.00.

A number of equities research analysts recently weighed in on TLRY shares. Wall Street Zen upgraded shares of Tilray Brands from a "strong sell" rating to a "hold" rating in a report on Saturday, October 11th. Atb Cap Markets lowered Tilray Brands from a "hold" rating to a "strong sell" rating in a report on Thursday, October 9th. Jefferies Financial Group raised their price objective on Tilray Brands from $1.50 to $2.00 and gave the stock a "buy" rating in a report on Monday, August 25th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Tilray Brands in a research report on Wednesday, October 8th.

Tilray Brands Stock Performance

Shares of Tilray Brands stock opened at $0.82 on Monday. The company has a quick ratio of 1.56, a current ratio of 2.62 and a debt-to-equity ratio of 0.15. The stock's fifty day moving average is $1.35 and its two-hundred day moving average is $0.95. Tilray Brands has a 52 week low of $0.35 and a 52 week high of $2.32. The company has a market capitalization of $925.24 million, a PE ratio of -0.36 and a beta of 1.76.

Tilray Brands shares are going to reverse split on the morning of Tuesday, December 2nd. The 1-10 reverse split was announced on Wednesday, November 26th. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, December 1st.

Institutional Trading of Tilray Brands

A number of hedge funds have recently added to or reduced their stakes in TLRY. Tidal Investments LLC increased its position 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 purchasing an additional 3,776,410 shares during the period. Millennium Management LLC increased its holdings in Tilray Brands by 281.0% during the third quarter. Millennium Management LLC now owns 4,942,319 shares of the company's stock valued at $8,550,000 after buying an additional 3,645,060 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Tilray Brands during the third quarter valued at approximately $5,813,000. Ausdal Financial Partners Inc. bought a new position in Tilray Brands in the second quarter worth approximately $939,000. Finally, Swiss National Bank lifted its holdings in Tilray Brands by 4.4% during the third quarter. Swiss National Bank now owns 2,013,038 shares of the company's stock worth $3,483,000 after buying an additional 84,900 shares during the period. 9.35% of the stock is owned by hedge funds and other institutional investors.

About Tilray Brands

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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