Director Kennedy Brendan sold 350,000 shares of Tilray Brands Inc. [TLRY]

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Tilray Brands Inc. shares valued at $1,128,015 were sold by Kennedy Brendan on Sep 06. At $3.22 per share, Kennedy Brendan sold 350,000 shares. The insider’s holdings dropped to 6,924,196 shares worth approximately $19.39 million following the completion of this transaction.


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Also, Kennedy Brendan sold 350,000 shares, netting a total of over 1,081,675 in proceeds. Following the sale of shares at $3.09 each, the insider now holds 7,624,196 shares.

As published in a research note from The Benchmark Company on July 29, 2022, Tilray Brands Inc. [TLRY] has been rated down from a Hold to a Sell and the price target has been revised to $3. This represents a 6.67% premium over Thursday’s closing price. Analysts at Canaccord Genuity upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in early March. As of November 18, 2021, Barclays has initiated its “an Underweight” rating for TLRY. Earlier on November 01, 2021, Cantor Fitzgerald downgraded its rating. Their new recommendation was “a Neutral” for TLRY stock which previously was a “an Overweight”.

Analyzing TLRY’s Price Performance

On Thursday, Tilray Brands Inc. [NASDAQ: TLRY] plunged -6.04% to $2.80. The stock’s lowest price that day was $2.80, but it reached a high of $3.00 in the same session. During the last five days, there has been a drop of approximately -17.40%. Over the course of the year, Tilray Brands Inc. shares have dropped approximately -60.17%. Shares of the company reached a 52-week high of $9.08 on 03/30/22 and a 52-week low of $2.80 on 09/22/22. A 50-day SMA is recorded $3.63, while a 200-day SMA reached $5.17. Nevertheless, trading volume fell to 21.0 million shares from 19.44 million shares the previous day.

Support And Resistance Levels for Tilray Brands Inc. (TLRY)

According to the 24-hour chart, there is a support level at 2.73, which, if violated, would cause prices to drop to 2.67. In the upper region, resistance lies at 2.93. The next price resistance is at 3.07. RSI (Relative Strength Index) is 33.16 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.28, which suggests the price will decrease in the coming days. Percent R is at 100.00%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Tilray Brands Inc. subject to short interest?

Stocks of Tilray Brands Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 3.19 million shares to 72.2 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 69.01 million shares. A jump of 4.42% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.48 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.48.

Which companies own the most shares of Tilray Brands Inc. (TLRY)?

According to ETF Managers Group LLC filings, the company currently owns 8,354,221 shares, which is about 1.56% of the total TLRY shares outstanding. The investor’s shares have plunged by -1,258,526 from its previous 13-F filing of 9612747.0 shares. With the completion of the buy transaction, Morgan Stanley & Co. LLC’s stake is now worth $29,449,624. Susquehanna Financial Group LLLP acquire a 21.73% interest valued at $26.74 million while Two Sigma Investments LP 2,317,789 stake. In its current portfolio, Sculptor Capital LP holds 1,379,504 shares valued at $5.24 million.

In terms of Tilray Brands Inc. share price expectations, FactSet research, analysts set an average price target of $4.85 in the next 12 months, up nearly 34.23% from the previous closing price of $2.98. Analysts anticipate Tilray Brands Inc. stock to reach $9.30 by 2022, with the lowest price target being $3.00. In spite of this, 20 analysts ranked Tilray Brands Inc. stock as a Hold at the end of 2022. On June 11, 2021, CIBC assigned a price target of “a Neutral” to the stock and downgraded coverage with a $25.

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