Tilray Brands (NASDAQ:TLRY) Shares Gap Up - What's Next?

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $0.67, but opened at $0.70. Tilray Brands shares last traded at $0.78, with a volume of 19,089,176 shares changing hands.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Roth Capital restated a "neutral" rating on shares of Tilray Brands in a report on Monday, April 14th. Piper Sandler lowered their price objective on Tilray Brands from $2.00 to $1.00 and set a "neutral" rating for the company in a research report on Wednesday, April 9th. Finally, Wall Street Zen cut Tilray Brands to a "strong sell" rating in a research note on Saturday, July 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $1.92.

Tilray Brands Price Performance

The company has a 50-day moving average of $0.47 and a two-hundred day moving average of $0.67. The stock has a market capitalization of $756.88 million, a PE ratio of -0.72 and a beta of 1.82. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.62 and a quick ratio of 1.61.

Hedge Funds Weigh In On Tilray Brands

Several large investors have recently added to or reduced their stakes in the business. Tidal Investments LLC grew its stake in shares of Tilray Brands by 9.2% in the fourth quarter. Tidal Investments LLC now owns 10,595,264 shares of the company's stock valued at $14,092,000 after buying an additional 889,086 shares in the last quarter. Bank of Montreal Can grew its stake in shares of Tilray Brands by 14.4% in the fourth quarter. Bank of Montreal Can now owns 2,488,982 shares of the company's stock valued at $3,310,000 after buying an additional 312,476 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Tilray Brands by 20.1% in the fourth quarter. Geode Capital Management LLC now owns 2,405,911 shares of the company's stock valued at $3,200,000 after buying an additional 403,371 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Tilray Brands by 54.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company's stock valued at $2,890,000 after buying an additional 769,569 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Tilray Brands by 17.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,964,380 shares of the company's stock valued at $2,613,000 after buying an additional 286,481 shares in the last quarter. 9.35% of the stock is currently 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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