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

Shares of Tilray Brands, Inc. (NASDAQ:TLRY) rose 2.3% during mid-day trading on Thursday . The company traded as high as $7.38 and last traded at $7.22. Approximately 8,893,582 shares were traded 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.

Analyst Ratings Changes

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

Tilray Brands Trading Up 2.3%

The firm has a market cap of $810.73 million, a price-to-earnings ratio of -0.32 and a beta of 1.76. 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 $13.25 and a 200 day moving average price of $9.53.

Institutional Investors Weigh In On Tilray Brands

Institutional investors have recently made changes to their positions in the stock. Silverlake Wealth Management LLC purchased a new stake in shares of Tilray Brands in the 3rd quarter valued at approximately $25,000. Oppenheimer & Co. Inc. acquired a new stake in Tilray Brands in the 3rd quarter valued at approximately $25,000. Unified Investment Management acquired a new stake in Tilray Brands in the 3rd quarter valued at approximately $26,000. J.W. Cole Advisors Inc. raised its position in Tilray Brands by 203.2% in the second quarter. J.W. Cole Advisors Inc. now owns 71,890 shares of the company’s stock valued at $30,000 after purchasing an additional 48,177 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new position in Tilray Brands during the third quarter worth $30,000. 9.35% of the stock is currently owned by institutional investors and hedge funds.

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.