Tron (NASDAQ:TRON) Sees Large Volume Increase – Here’s What Happened

Tron Inc. (NASDAQ:TRON – Get Free Report) saw unusually-high trading volume on Thursday. Approximately 1,251,105 shares were traded during trading, an increase of 31% from the previous session’s volume of 952,226 shares. The stock last traded at $1.4050 and had previously closed at $1.24.

Analyst Ratings Changes

Several research analysts recently commented on the company. Wall Street Zen cut Tron from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings upgraded Tron from a “sell (d-)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

Read Our Latest Research Report on TRON

Tron Stock Down 4.3%

The business’s 50 day moving average is $1.51 and its 200-day moving average is $1.72. The firm has a market cap of $680.74 million, a P/E ratio of -13.05 and a beta of 8.69.

Tron (NASDAQ:TRON – Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $0.01 EPS for the quarter. Tron had a net margin of 135.58% and a negative return on equity of 5.60%. The firm had revenue of $1.57 million for the quarter.

Institutional Investors Weigh In On Tron

A number of institutional investors have recently modified their holdings of TRON. Bank of America Corp DE acquired a new position in Tron in the second quarter worth about $97,000. BlackRock Inc. acquired a new stake in Tron during the second quarter valued at approximately $5,319,000. Deutsche Bank AG acquired a new stake in Tron during the second quarter valued at approximately $79,000. Bank of New York Mellon Corp acquired a new stake in Tron during the second quarter valued at approximately $277,000. Finally, CTC Alternative Strategies Ltd. bought a new position in Tron during the 1st quarter worth approximately $27,000. Institutional investors and hedge funds own 28.03% of the company’s stock.

Tron Company Profile

(Get Free Report)

Tron, Inc (NASDAQ:TRON) is a digital asset treasury company focused on acquiring, holding and managing TRON (TRX), the native cryptocurrency of the TRON blockchain. The company’s strategy centers on providing public-market exposure to TRX while supporting activities related to the broader TRON ecosystem.

TRON is a blockchain platform designed to support decentralized applications, digital content distribution and cryptocurrency transactions. The network uses TRX for payments, governance and participation in its ecosystem, which includes developers, users and digital-content providers around the world.

Tron, Inc previously operated as SRM Entertainment, Inc, a company that developed and distributed consumer products and entertainment-related merchandise for theme parks and other venues.

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