Tilray Brands (NASDAQ:TLRY) Trading 44.1% Higher – Time to Buy?

Shares of Tilray Brands, Inc. (NASDAQ:TLRY) traded up 44.1% on Friday . The stock traded as high as $12.41 and last traded at $12.15. 80,078,390 shares were traded during mid-day trading, an increase of 1,389% from the average session volume of 5,377,517 shares. The stock had previously closed at $8.43.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on TLRY shares. Wall Street Zen upgraded Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Saturday, October 11th. Atb Cap Markets upgraded Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tilray Brands in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group boosted their target price on shares of Tilray Brands from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, August 25th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $20.00.

Tilray Brands Trading Up 44.1%

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 firm has a fifty day simple moving average of $12.34 and a 200-day simple moving average of $9.63. The firm has a market cap of $1.36 billion, a P/E ratio of -0.54 and a beta of 1.76.

Institutional Trading of Tilray Brands

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC lifted its stake in shares of Tilray Brands by 33.8% in the third quarter. Integrated Wealth Concepts LLC now owns 36,977 shares of the company’s stock valued at $64,000 after buying an additional 9,341 shares in the last quarter. CreativeOne Wealth LLC lifted its position in Tilray Brands by 12.2% in the 3rd quarter. CreativeOne Wealth LLC now owns 87,134 shares of the company’s stock valued at $151,000 after acquiring an additional 9,452 shares in the last quarter. Dudley Capital Management LLC boosted its stake in Tilray Brands by 73.3% during the 3rd quarter. Dudley Capital Management LLC now owns 26,000 shares of the company’s stock valued at $45,000 after purchasing an additional 11,000 shares during the last quarter. Arizona State Retirement System increased its holdings in Tilray Brands by 4.3% during the 3rd quarter. Arizona State Retirement System now owns 307,193 shares of the company’s stock worth $531,000 after purchasing an additional 12,675 shares in the last quarter. Finally, Brighton Jones LLC increased its holdings in Tilray Brands by 28.3% during the 3rd quarter. Brighton Jones LLC now owns 59,510 shares of the company’s stock worth $103,000 after purchasing an additional 13,137 shares in the last quarter. 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.