Tron (NASDAQ:TRON) Shares Down 9.4% – Here’s What Happened

Shares of Tron Inc. (NASDAQ:TRONGet Free Report) were down 9.4% on Tuesday . The stock traded as low as $1.58 and last traded at $1.5850. 1,545,951 shares changed hands during trading, an increase of 56% from the average session volume of 988,612 shares. The stock had previously closed at $1.75.

Wall Street Analysts Forecast Growth

TRON has been the subject of a number of recent analyst reports. Wall Street Zen downgraded shares of Tron from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Weiss Ratings raised 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, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

Get Our Latest Research Report on Tron

Tron Stock Down 5.7%

The stock has a fifty day moving average of $1.59 and a two-hundred day moving average of $1.79. The stock has a market cap of $782.73 million, a price-to-earnings ratio of -15.00 and a beta of 8.59.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TRON. CTC Alternative Strategies Ltd. acquired a new position in Tron during the first quarter valued at approximately $27,000. Virtu Financial LLC acquired a new stake in shares of Tron in the fourth quarter worth $52,000. State of Wyoming purchased a new position in shares of Tron in the 1st quarter valued at $78,000. Deutsche Bank AG acquired a new position in shares of Tron during the 2nd quarter valued at $79,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Tron during the 4th quarter valued at $80,000. Hedge funds and other institutional investors own 28.03% of the company’s stock.

Tron Company Profile

(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.

Further Reading

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