5 Best Marijuana Stocks to Buy Now

1. Tilray Brands, Inc. (NASDAQ:TLRY)

Number of Hedge Fund Holders: 17

Tilray Brands, Inc. (NASDAQ:TLRY) engages in the research, cultivation, production, marketing, and distribution of medical cannabis products in Canada, the United States, Europe, Australia, New Zealand, Latin America, and internationally. It offers medical and adult-use cannabis products, including GMP-certified flowers, oils, vapes, edibles, and topicals.

On July 28, Tilray Brands, Inc. (NASDAQ:TLRY) released earnings for the fiscal second quarter of 2022. The company generated a revenue of $153.33 million, up 7.80% year over year, and beat market consensus by $2.06 million.

On July 29, Cowen analyst Vivien Azer revised her price target on Tilray Brands, Inc. (NASDAQ:TLRY) to $9 from $23 and reiterated an Outperform rating on the shares. The analyst likes the company’s position in the adult cannabis market.

At the end of the first quarter of 2022, 17 hedge funds were bullish on Tilray Brands, Inc. (NASDAQ:TLRY) and held stakes worth $85.48 million in the company. This is compared to 20 positions in the previous quarter with stakes worth $118.33 million.

As of June 30, Sculptor Capital owns roughly 1.37 million shares of Tilray Brands, Inc. (NASDAQ:TLRY) and is the largest shareholder in the company. The fund’s stakes in Tilray Brands, Inc. (NASDAQ:TLRY) are valued at $4.30 million.

You can also take a look at 10 Marijuana Stocks to Buy in 2022 and 10 Medical Marijuana Stocks To Buy Now.

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