Tron Inc. (NASDAQ:TRON – Get Free Report) shares shot up 9.5% during mid-day trading on Tuesday. The company traded as high as $1.1850 and last traded at $1.2050. 368,060 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 950,779 shares. The stock had previously closed at $1.10.
Analyst Ratings Changes
Several brokerages have recently weighed in on TRON. Wall Street Zen cut Tron from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Weiss Ratings upgraded shares of Tron from a “sell (d-)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.
Get Our Latest Analysis on Tron
Tron Price Performance
The stock has a fifty day simple moving average of $1.52 and a 200-day simple moving average of $1.74. The company has a market capitalization of $562.14 million, a price-to-earnings ratio of -10.79 and a beta of 8.69.
Tron (NASDAQ:TRON – Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported $0.01 EPS for the quarter. The business had revenue of $1.57 million during the quarter. Tron had a net margin of 135.58% and a negative return on equity of 5.60%.
Institutional Trading of Tron
Hedge funds and other institutional investors have recently bought and sold shares of the company. CTC Alternative Strategies Ltd. acquired a new stake in Tron in the 1st quarter valued at $27,000. State of Wyoming bought a new position in Tron during the first quarter valued at about $78,000. Deutsche Bank AG acquired a new stake in shares of Tron during the second quarter worth $79,000. Leonteq Securities AG acquired a new position in Tron during the first quarter valued at $91,000. Finally, Bank of America Corp DE acquired a new position in shares of Tron in the second quarter worth $97,000. 28.03% of the stock is owned by hedge funds and other institutional investors.
Tron Company Profile
Tron Inc (NASDAQ: TRON) is a publicly traded digital asset treasury company focused on supporting the TRON blockchain ecosystem. Its strategy centers on holding TRX, the native cryptocurrency of the TRON network, and participating in initiatives related to blockchain technology and decentralized applications.
The company was formerly known as SRM Entertainment, Inc, a business that developed and supplied licensed merchandise and consumer products for entertainment and theme-park brands.
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