Tilray Brands (NASDAQ:TLRY) Trading Up 1.6% – Still a Buy?

Tilray Brands, Inc. (NASDAQ:TLRY)’s stock price traded up 1.6% during trading on Thursday . The stock traded as high as $9.21 and last traded at $9.13. 7,699,421 shares traded hands during trading, an increase of 23% from the average session volume of 6,279,894 shares. The stock had previously closed at $8.99.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Wall Street Zen upgraded Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Saturday, October 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Tilray Brands in a research report on Wednesday, October 8th. Finally, Atb Cap Markets raised shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 10th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $20.00.

Tilray Brands Stock Performance

The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.56 and a current ratio of 2.62. The company has a 50 day moving average price of $10.26 and a 200 day moving average price of $10.51. The company has a market capitalization of $1.03 billion, a PE ratio of -0.40 and a beta of 1.77.

Institutional Investors Weigh In On Tilray Brands

Several hedge funds and other institutional investors have recently modified their holdings of TLRY. Silverlake Wealth Management LLC acquired a new position in Tilray Brands in the third quarter worth about $25,000. Oppenheimer & Co. Inc. acquired a new position in shares of Tilray Brands in the 3rd quarter worth approximately $25,000. Unified Investment Management bought a new stake in shares of Tilray Brands in the 3rd quarter valued at approximately $26,000. J.W. Cole Advisors Inc. raised its position in shares of Tilray Brands by 203.2% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 71,890 shares of the company’s stock valued at $30,000 after acquiring an additional 48,177 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in Tilray Brands during the third quarter worth $30,000. Institutional investors own 9.35% of the company’s stock.

Tilray Brands Company Profile

Tilray Brands, Inc is a global cannabis-lifestyle and consumer packaged goods company engaged in the cultivation, production, distribution and sale of cannabis and cannabinoid-based products. The company develops and markets a diverse portfolio of branded products spanning medical cannabis, adult-use recreational products and wellness offerings. Through state-of-the-art cultivation facilities, research and development efforts, and quality control systems, Tilray Brands aims to deliver consistent, scalable products for a range of patient and consumer needs.

Tilray’s product lineup includes cannabis flower, pre-rolls, oils and tinctures, vapes, edibles and topicals, as well as hemp-derived cannabidiol (CBD) products.