Tilray Brands (NASDAQ:TLRY) Shares Up 2.1% - Here's Why

Key Points

• Tilray Brands shares were up 2.1% on Thursday, trading as high as $8.59 and last at $8.43 on about 4.12 million shares, roughly 18% below average session volume.
• Analyst opinions are mixed with an average "Hold" rating and a $20 average price target (2 Buys, 3 Holds, 2 Sells); notable moves include Jefferies raising its target to $20 (Buy) and ATB Capital cutting to "strong sell".
• Fundamentals show a market cap near $946.6M, a negative P/E (−0.37) and low leverage (debt/equity 0.15), while recent institutional activity includes several new and increased stakes and hedge funds owning about 9.35% of the stock.

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) traded up 2.1% during trading on Thursday . The stock traded as high as $8.59 and last traded at $8.43. 4,121,742 shares traded hands during mid-day trading, a decline of 18% from the average session volume of 5,057,118 shares. The stock had previously closed at $8.26.

Analyst Ratings Changes

Several equities research analysts have issued reports on TLRY shares. Atb Cap Markets cut shares of Tilray Brands from a "hold" rating to a "strong sell" rating in a research note on Thursday, October 9th. Weiss Ratings reissued a "sell (d-)" rating on shares of Tilray Brands in a research note on Wednesday, October 8th. Jefferies Financial Group upped their price objective on shares of Tilray Brands from $15.00 to $20.00 and gave the company a "buy" rating in a research note on Monday, August 25th. Finally, Wall Street Zen raised shares of Tilray Brands from a "strong sell" rating to a "hold" rating in a research note on Saturday, October 11th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Tilray Brands currently has an average rating of "Hold" and an average price target of $20.00.

Tilray Brands Stock Up 2.1%

The company has a debt-to-equity ratio of 0.15, a current ratio of 2.62 and a quick ratio of 1.56. The company has a market capitalization of $946.60 million, a PE ratio of -0.37 and a beta of 1.76. The business's 50 day simple moving average is $12.50 and its 200 day simple moving average is $9.64.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Tudor Investment Corp ET AL purchased a new stake in Tilray Brands in the third quarter valued at $518,000. Swiss Life Asset Management Ltd grew its holdings in shares of Tilray Brands by 222.9% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 42,503 shares of the company's stock worth $74,000 after purchasing an additional 29,339 shares during the period. Caitong International Asset Management Co. Ltd increased its position in shares of Tilray Brands by 99,204,800.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 992,049 shares of the company's stock worth $1,716,000 after purchasing an additional 992,048 shares during the last quarter. Sassicaia Capital Advisers LLC acquired a new stake in shares of Tilray Brands during the 3rd quarter worth about $401,000. Finally, Scientech Research LLC purchased a new stake in Tilray Brands in the 3rd quarter valued at about $1,748,000. 9.35% of the stock is currently owned by hedge funds and other institutional investors.

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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