Brokerages Set Tilray Brands, Inc. (NASDAQ:TLRY) PT at $11.50

Shares of Tilray Brands, Inc. (NASDAQ:TLRY) have been given an average recommendation of “Hold” by the eight research firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $11.00.

Several equities research analysts have recently commented on TLRY shares. Roth Capital raised shares of Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 target price for the company in a research report on Thursday, April 2nd. ATB Cormark Capital Markets decreased their price target on shares of Tilray Brands from $9.50 to $9.00 and set a “sector perform” rating for the company in a research note on Thursday, April 2nd. Wall Street Zen raised shares of Tilray Brands from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Weiss Ratings lowered shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 13th. Finally, TD Cowen cut their price objective on Tilray Brands from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday.

Tilray Brands Stock Down 0.7%

Shares of Tilray Brands stock opened at $4.35 on Tuesday. The company has a current ratio of 2.79, a quick ratio of 1.66 and a debt-to-equity ratio of 0.19. The company’s fifty day simple moving average is $4.95 and its two-hundred day simple moving average is $6.63. The company has a market cap of $506.99 million, a P/E ratio of -0.32 and a beta of 1.89. Tilray Brands has a 12-month low of $4.20 and a 12-month high of $23.20.

Insider Activity

In other news, Director David G. Hopkinson sold 33,556 shares of the firm’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $6.94, for a total value of $232,878.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.84% of the company’s stock.

Institutional Investors Weigh In On Tilray Brands

Several hedge funds have recently made changes to their positions in TLRY. AQR Capital Management LLC grew its stake in 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 purchasing an additional 575,757 shares during the period. XTX Topco Ltd purchased a new position in Tilray Brands during the second quarter valued at $112,000. Cerity Partners LLC boosted its holdings in shares of Tilray Brands by 98.5% during the 2nd quarter. Cerity Partners LLC now owns 92,560 shares of the company’s stock valued at $38,000 after buying an additional 45,929 shares in the last quarter. Ausdal Financial Partners Inc. bought a new stake in shares of Tilray Brands during the 2nd quarter valued at $939,000. Finally, Bank of America Corp DE boosted its holdings in shares of Tilray Brands by 26.5% during the 2nd quarter. Bank of America Corp DE now owns 311,810 shares of the company’s stock valued at $129,000 after buying an additional 65,379 shares in the last quarter. 9.35% of the stock is currently owned by institutional investors.

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.