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

Shares of Tilray Brands, Inc. (NASDAQ:TLRY) rose 1.6% during trading on Thursday . The stock traded as high as $9.21 and last traded at $9.13. Approximately 7,699,421 shares were traded during mid-day trading, an increase of 23% from the average daily volume of 6,279,894 shares. The stock had previously closed at $8.99.

Analyst Ratings Changes

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

Tilray Brands Stock Performance

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC increased its position in shares of Tilray Brands by 1,839.7% in the first quarter. AQR Capital Management LLC now owns 607,054 shares of the company’s stock worth $399,000 after acquiring an additional 575,757 shares in the last quarter. Baader Bank Aktiengesellschaft increased its holdings in Tilray Brands by 11.0% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 339,706 shares of the company’s stock valued at $134,000 after purchasing an additional 33,684 shares in the last quarter. Vontobel Holding Ltd. raised its position in Tilray Brands by 12.7% in the second quarter. Vontobel Holding Ltd. now owns 272,662 shares of the company’s stock valued at $113,000 after purchasing an additional 30,818 shares during the period. Blair William & Co. IL lifted its stake in shares of Tilray Brands by 55.9% during the second quarter. Blair William & Co. IL now owns 239,743 shares of the company’s stock worth $99,000 after purchasing an additional 86,010 shares in the last quarter. Finally, Stratos Wealth Partners LTD. lifted its stake in shares of Tilray Brands by 704.5% during the second quarter. Stratos Wealth Partners LTD. now owns 81,272 shares of the company’s stock worth $34,000 after purchasing an additional 71,170 shares in the last quarter. 9.35% of the stock is owned by institutional investors and hedge funds.

About Tilray Brands

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.