Tilray Brands (NASDAQ:TLRY) Trading 4.8% Higher – Here’s What Happened

Tilray Brands, Inc. (NASDAQ:TLRY) shares were up 4.8% on Wednesday . The stock traded as high as $1.06 and last traded at $1.03. Approximately 25,535,249 shares changed hands during trading, a decline of 48% from the average daily volume of 49,492,805 shares. The stock had previously closed at $0.9832.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on TLRY shares. Wall Street Zen upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Saturday, October 11th. Jefferies Financial Group raised their target price on Tilray Brands from $1.50 to $2.00 and gave the stock a “buy” rating in a research note on Monday, August 25th. Zelman & Associates restated a “neutral” rating on shares of Tilray Brands in a report on Tuesday, July 29th. Atb Cap Markets cut Tilray Brands from a “hold” rating to a “strong sell” rating in a report on Thursday, October 9th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Tilray Brands in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $2.00.

Tilray Brands Price Performance

The stock has a market cap of $1.16 billion, a PE ratio of -0.45 and a beta of 2.04. The business has a fifty day simple moving average of $1.37 and a two-hundred day simple moving average of $0.94. The company has a current ratio of 2.62, a quick ratio of 1.56 and a debt-to-equity ratio of 0.15.

Hedge Funds Weigh In On Tilray Brands

A number of institutional investors have recently added to or reduced their stakes in TLRY. Baader Bank Aktiengesellschaft grew its position in shares of Tilray Brands by 11.0% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 339,706 shares of the company’s stock worth $134,000 after buying an additional 33,684 shares during the period. Vontobel Holding Ltd. lifted its position in Tilray Brands by 12.7% during the 2nd quarter. Vontobel Holding Ltd. now owns 272,662 shares of the company’s stock valued at $113,000 after acquiring an additional 30,818 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Tilray Brands by 49.9% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 168,189 shares of the company’s stock worth $111,000 after acquiring an additional 55,981 shares in the last quarter. Stratos Wealth Partners LTD. grew its holdings in Tilray Brands by 704.5% in 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 during the period. Finally, Swiss National Bank grew its holdings in Tilray Brands by 2.3% in the first quarter. Swiss National Bank now owns 1,816,638 shares of the company’s stock worth $1,194,000 after purchasing an additional 40,000 shares during the period. Institutional investors own 9.35% of the company’s stock.

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.