Tilray Brands (NASDAQ:TLRY) Trading Up 2.3% – Still a Buy?

Tilray Brands, Inc. (NASDAQ:TLRY) shares were up 2.3% on Thursday . The company traded as high as $7.38 and last traded at $7.22. Approximately 8,893,582 shares changed hands during mid-day trading, an increase of 77% from the average daily volume of 5,030,070 shares. The stock had previously closed at $7.06.

Wall Street Analyst Weigh In

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

Tilray Brands Trading Up 2.3%

The company has a fifty day moving average of $13.25 and a 200-day moving average of $9.53. The company has a current ratio of 2.62, a quick ratio of 1.56 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $810.73 million, a price-to-earnings ratio of -0.32 and a beta of 1.76.

Institutional Trading of Tilray Brands

Several large investors have recently made changes to their positions in TLRY. Tidal Investments LLC raised its stake in Tilray Brands by 15.0% in the 2nd quarter. Tidal Investments LLC now owns 28,971,835 shares of the company’s stock valued at $12,006,000 after purchasing an additional 3,776,410 shares during the last quarter. Millennium Management LLC raised its position in shares of Tilray Brands by 281.0% in the third quarter. Millennium Management LLC now owns 4,942,319 shares of the company’s stock valued at $8,550,000 after buying an additional 3,645,060 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Tilray Brands in the third quarter valued at about $5,813,000. Ausdal Financial Partners Inc. purchased a new position in shares of Tilray Brands in the second quarter worth about $939,000. Finally, Scientech Research LLC acquired a new position in Tilray Brands during the third quarter worth 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.