Tilray Brands (NASDAQ:TLRY) Trading Up 4.5% - What's Next?

Tilray Brands, Inc. (NASDAQ:TLRY - Get Free Report)'s stock price traded up 4.5% on Monday . The stock traded as high as $0.65 and last traded at $0.65. 8,966,494 shares traded hands during trading, a decline of 71% from the average session volume of 31,249,872 shares. The stock had previously closed at $0.62.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TLRY. Roth Capital reaffirmed a "neutral" rating on shares of Tilray Brands in a report on Monday, April 14th. Piper Sandler lowered their price target on shares of 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 lowered 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 given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $1.92.

Tilray Brands Price Performance

The business has a 50 day moving average price of $0.46 and a two-hundred day moving average price of $0.67. The stock has a market cap of $677.88 million, a PE ratio of -0.64 and a beta of 1.82. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.61 and a current ratio of 2.62.

Institutional Investors Weigh In On Tilray Brands

Several hedge funds and other institutional investors have recently modified their holdings of TLRY. Dimensional Fund Advisors LP increased its stake in shares of Tilray Brands by 54.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company's stock valued at $2,890,000 after purchasing an additional 769,569 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Tilray Brands by 112.7% during the 4th quarter. JPMorgan Chase & Co. now owns 919,082 shares of the company's stock valued at $1,222,000 after acquiring an additional 487,051 shares during the period. Millennium Management LLC purchased a new stake in shares of Tilray Brands during the fourth quarter worth about $879,000. Raymond James Financial Inc. purchased a new stake in shares of Tilray Brands during the 4th quarter valued at $255,000. Finally, Tidal Investments LLC boosted its position in Tilray Brands by 9.2% during the 4th quarter. Tidal Investments LLC now owns 10,595,264 shares of the company's stock worth $14,092,000 after purchasing an additional 889,086 shares during the period. 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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