Tilray Brands (NASDAQ:TLRY) Stock Price Up 7% - Here's What Happened

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report) rose 7% during mid-day trading on Monday . The company traded as high as $0.65 and last traded at $0.62. Approximately 15,073,933 shares traded hands during trading, a decline of 57% from the average daily volume of 35,057,148 shares. The stock had previously closed at $0.58.

Analyst Upgrades and Downgrades

TLRY has been the topic of a number of recent analyst reports. Roth Capital reaffirmed a "neutral" rating on shares of Tilray Brands in a report on Monday, April 14th. Piper Sandler dropped their price target on shares of Tilray Brands from $2.00 to $1.00 and set a "neutral" rating on the stock in a report on Wednesday, April 9th. Finally, Wall Street Zen downgraded shares of Tilray Brands to a "strong sell" rating in a report on Saturday, July 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $1.92.

Tilray Brands Stock Performance

The company has a quick ratio of 1.61, a current ratio of 2.62 and a debt-to-equity ratio of 0.12. The company has a market cap of $641.14 million, a PE ratio of -0.61 and a beta of 1.82. The business's fifty day moving average is $0.45 and its 200-day moving average is $0.70.

Institutional Investors Weigh In On Tilray Brands

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lido Advisors LLC bought a new stake in shares of Tilray Brands during the fourth quarter valued at approximately $28,000. Dudley Capital Management LLC bought a new stake in shares of Tilray Brands during the fourth quarter valued at approximately $29,000. Cerity Partners LLC bought a new stake in shares of Tilray Brands during the first quarter valued at approximately $31,000. Capital Management Associates Inc raised its position in shares of Tilray Brands by 100.0% during the first quarter. Capital Management Associates Inc now owns 50,760 shares of the company's stock valued at $33,000 after buying an additional 25,380 shares during the last quarter. Finally, Fifth Lane Capital LP grew its holdings in shares of Tilray Brands by 400.0% in the first quarter. Fifth Lane Capital LP now owns 50,000 shares of the company's stock valued at $33,000 after purchasing an additional 40,000 shares in the last quarter. Institutional investors own 9.35% of the company's stock.

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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