Tilray Brands (NASDAQ:TLRY) Given New $5.00 Price Target at TD Cowen

Key Points

• TD Cowen lowered its price target on Tilray Brands from $7.00 to $5.00 while keeping a buy rating, implying about 15.34% upside from the prior close.
• Tilray shares fell 2.8% to $4.33, near the stock’s 52-week low of $4.20, and remain well below the 200-day moving average of $6.75.
• Analyst sentiment is mixed overall: Tilray currently has a consensus Hold rating with an average price target of $11.00, despite some recent upgrades from other firms.

Tilray Brands (NASDAQ:TLRY - Get Free Report) had its price objective lowered by investment analysts at TD Cowen from $7.00 to $5.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. TD Cowen's price target indicates a potential upside of 15.34% from the company's previous close.

TLRY has been the subject of a number of other research reports. Roth Capital raised Tilray Brands from a "neutral" rating to a "buy" rating and set a $10.00 target price for the company in a research report on Thursday, April 2nd. Wall Street Zen raised shares of Tilray Brands from a "sell" rating to a "hold" rating in a research report on Saturday, March 21st. Weiss Ratings cut shares of Tilray Brands from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday, May 13th. Finally, ATB Cormark Capital Markets decreased their price objective on shares of Tilray Brands from $9.50 to $9.00 and set a "sector perform" rating for the company in a report on Thursday, April 2nd. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Tilray Brands currently has a consensus rating of "Hold" and a consensus price target of $11.00.

Tilray Brands Stock Down 2.8%

Shares of TLRY traded down $0.12 during trading hours on Tuesday, hitting $4.33. 1,694,155 shares of the company were exchanged, compared to its average volume of 4,234,025. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.66 and a current ratio of 2.79. The company has a market cap of $505.24 million, a PE ratio of -0.32 and a beta of 1.89. The firm's 50 day moving average is $5.03 and its 200-day moving average is $6.75. Tilray Brands has a 52 week low of $4.20 and a 52 week high of $23.20.

Insider Buying and Selling at Tilray Brands

In other news, Director David G. Hopkinson sold 33,556 shares of the stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $6.94, for a total value of $232,878.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.84% of the company's stock.

Hedge Funds Weigh In On Tilray Brands

A number of institutional investors and hedge funds have recently bought and sold shares of TLRY. Tudor Investment Corp ET AL acquired a new stake in Tilray Brands in the 3rd quarter worth $518,000. Caitong International Asset Management Co. Ltd raised its position in shares of Tilray Brands by 99,204,800.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 992,049 shares of the company's stock valued at $1,716,000 after buying an additional 992,048 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new position in shares of Tilray Brands during the fourth quarter valued at about $4,855,000. IFP Advisors Inc lifted its stake in shares of Tilray Brands by 14.3% in the fourth quarter. IFP Advisors Inc now owns 60,318 shares of the company's stock valued at $545,000 after buying an additional 7,541 shares during the period. Finally, State of New Jersey Common Pension Fund D bought a new stake in shares of Tilray Brands in the fourth quarter valued at about $346,000. Institutional investors 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.

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