Tilray Brands (NASDAQ:TLRY) Stock Price Up 3.2% - Time to Buy?

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s stock price was up 3.2% during mid-day trading on Friday . The company traded as high as $0.66 and last traded at $0.63. Approximately 15,677,720 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 34,877,938 shares. The stock had previously closed at $0.61.

Analyst Ratings Changes

A number of research analysts recently weighed in on TLRY shares. Wall Street Zen downgraded Tilray Brands to a "strong sell" rating in a research note on Saturday, July 5th. Roth Capital reissued a "neutral" rating on shares of Tilray Brands in a research note on Monday, April 14th. Finally, Piper Sandler decreased their price target 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $1.92.

Tilray Brands Stock Performance

The company has a 50-day simple moving average of $0.46 and a two-hundred day simple moving average of $0.67. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.61 and a current ratio of 2.62. The firm has a market capitalization of $684.42 million, a P/E ratio of -0.65 and a beta of 1.82.

Hedge Funds Weigh In On Tilray Brands

Several institutional investors have recently made changes to their positions in TLRY. Baader Bank Aktiengesellschaft lifted its stake in Tilray Brands by 11.0% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 339,706 shares of the company's stock worth $134,000 after purchasing an additional 33,684 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Tilray Brands by 1,839.7% during the first quarter. AQR Capital Management LLC now owns 607,054 shares of the company's stock worth $399,000 after buying an additional 575,757 shares during the period. State of Wyoming raised its stake in shares of Tilray Brands by 133.0% during the 1st quarter. State of Wyoming now owns 241,165 shares of the company's stock worth $159,000 after acquiring an additional 137,676 shares in the last quarter. Zuckerman Investment Group LLC acquired a new stake in Tilray Brands in the first quarter worth about $33,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Tilray Brands by 30.4% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 527,995 shares of the company's stock worth $345,000 after buying an additional 122,969 shares during the last quarter. Institutional investors own 9.35% of the company's stock.

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.