TD Cowen Cuts Tilray Brands (NASDAQ:TLRY) Price Target to $5.00

Tilray Brands (NASDAQ:TLRY) had its target price cut by TD Cowen from $7.00 to $5.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also issued research reports about the stock. ATB Cormark Capital Markets reduced 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 report on Thursday, April 2nd. Roth Capital upgraded shares of Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 price objective on the stock 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 report on Saturday, March 21st. Finally, Weiss Ratings downgraded shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 13th. Three 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 stock has a consensus rating of “Hold” and an average target price of $11.00.

Tilray Brands Trading Down 0.7%

TLRY opened at $4.35 on Tuesday. The stock has a market cap of $506.99 million, a price-to-earnings ratio of -0.32 and a beta of 1.89. The stock’s 50 day moving average price is $4.95 and its 200-day moving average price is $6.63. Tilray Brands has a one year low of $4.20 and a one year high of $23.20. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.66 and a current ratio of 2.79.

Insider Activity

In other Tilray Brands 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.84% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tilray Brands

Several large investors have recently bought and sold shares of the company. Tudor Investment Corp ET AL acquired a new stake in Tilray Brands in the 3rd quarter valued at about $518,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Tilray Brands by 99,204,800.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 992,049 shares of the company’s stock worth $1,716,000 after purchasing an additional 992,048 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new position in shares of Tilray Brands during the 4th quarter worth approximately $4,855,000. Westend Capital Management LLC purchased a new stake in shares of Tilray Brands in the fourth quarter valued at approximately $736,000. Finally, Entropy Technologies LP acquired a new stake in shares of Tilray Brands in the first quarter valued at approximately $123,000. 9.35% of the stock is currently owned by hedge funds and other 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.