Tron (NASDAQ:TRON) Trading Down 7.5% – Here’s Why

Tron Inc. (NASDAQ:TRON) shares traded down 7.5% during trading on Tuesday . The company traded as low as $2.42 and last traded at $2.48. 351,930 shares were traded during mid-day trading, a decline of 68% from the average session volume of 1,102,770 shares. The stock had previously closed at $2.68.

Analysts Set New Price Targets

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

Tron Price Performance

The firm has a market cap of $653.02 million, a PE ratio of -11.90 and a beta of 11.82. The business’s 50 day moving average price is $1.87 and its 200 day moving average price is $1.95.

Hedge Funds Weigh In On Tron

Several hedge funds and other institutional investors have recently made changes to their positions in the company. LPL Financial LLC purchased a new position in Tron during the fourth quarter worth approximately $1,018,000. Geode Capital Management LLC purchased a new position in Tron during the fourth quarter worth approximately $487,000. Renaissance Technologies LLC purchased a new position in Tron during the fourth quarter worth approximately $348,000. Marshall Wace LLP purchased a new position in Tron during the fourth quarter worth approximately $218,000. Finally, Millennium Management LLC purchased a new position in Tron during the fourth quarter worth approximately $164,000. Hedge funds and other institutional investors 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.