Tron (NASDAQ:TRON) Trading Down 7.5% – What’s Next?

Tron Inc. (NASDAQ:TRON)’s stock price was down 7.5% during trading on Tuesday . The company traded as low as $2.42 and last traded at $2.48. Approximately 351,930 shares traded hands during trading, a decline of 68% from the average daily volume of 1,102,770 shares. The stock had previously closed at $2.68.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Tron in a report on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

Tron Price Performance

The firm has a market cap of $670.86 million, a price-to-earnings ratio of -12.28 and a beta of 11.82. The firm’s fifty day moving average is $1.83 and its 200-day moving average is $1.95.

Hedge Funds Weigh In On Tron

Several hedge funds and other institutional investors have recently bought and sold shares of TRON. LPL Financial LLC acquired a new position in Tron in the fourth quarter valued at $1,018,000. Geode Capital Management LLC acquired a new position in Tron in the fourth quarter valued at approximately $487,000. Renaissance Technologies LLC acquired a new position in Tron in the fourth quarter valued at approximately $348,000. Marshall Wace LLP acquired a new position in Tron in the fourth quarter valued at approximately $218,000. Finally, Millennium Management LLC acquired a new position in Tron in the fourth quarter valued at approximately $164,000. Institutional investors and hedge funds own 28.03% of the company’s stock.

Tron Company Profile

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.