Tron (NASDAQ:TRON) Stock Price Down 8.6% – Here’s What Happened

by · The Cerbat Gem

Tron Inc. (NASDAQ:TRON – Get Free Report)’s stock price was down 8.6% during mid-day trading on Tuesday . The stock traded as low as $2.03 and last traded at $1.9920. Approximately 298,602 shares traded hands during trading, a decline of 72% from the average daily volume of 1,063,412 shares. The stock had previously closed at $2.18.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Tron in a research note on Friday, March 27th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

View Our Latest Report on Tron

Tron Trading Down 7.6%

The business has a 50 day moving average of $2.07 and a 200-day moving average of $1.84. The stock has a market cap of $552.88 million, a PE ratio of -18.32 and a beta of 8.77.

Tron (NASDAQ:TRON – Get Free Report) last released its quarterly earnings results on Friday, May 8th. The company reported $0.05 earnings per share for the quarter. Tron had a negative return on equity of 7.88% and a net margin of 112.96%.The company had revenue of $1.18 million during the quarter.

Institutional Investors Weigh In On Tron

Hedge funds have recently modified their holdings of the company. Virtu Financial LLC purchased a new stake in shares of Tron during the fourth quarter worth about $52,000. Squarepoint Ops LLC purchased a new position in shares of Tron during the fourth quarter valued at approximately $80,000. Engineers Gate Manager LP acquired a new stake in Tron during the fourth quarter worth approximately $84,000. State Street Corp purchased a new stake in Tron in the 4th quarter worth approximately $90,000. Finally, Leonteq Securities AG purchased a new stake in Tron in the 1st quarter worth approximately $91,000. 28.03% of the stock is owned by institutional investors and hedge funds.

About Tron

(Get Free Report)

SRM Entertainment, Inc designs, manufactures, and sells toys and souvenirs to theme parks. It sells its products through amusement parks, entertainment venues, and theme hotels in the United States, China, Japan, and internationally. The company was incorporated in 2022 and is based in Jupiter, Florida.

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