Tron (NASDAQ:TRON) Stock Price Down 6.8% – Here’s What Happened

Tron Inc. (NASDAQ:TRON) dropped 6.8% on Friday . The company traded as low as $1.52 and last traded at $1.51. Approximately 432,258 shares changed hands during trading, a decline of 52% from the average session volume of 909,604 shares. The stock had previously closed at $1.62.

Analysts Set New Price Targets

TRON has been the topic of several analyst reports. Weiss Ratings upgraded Tron from a “sell (d-)” rating to a “sell (d)” rating in a research note on Tuesday. Wall Street Zen lowered shares of Tron from a “hold” rating to a “sell” rating in a research report on Saturday. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Tron presently has a consensus rating of “Sell”.

Tron Price Performance

The company’s fifty day simple moving average is $1.55 and its 200-day simple moving average is $1.75. The firm has a market capitalization of $721.06 million, a PE ratio of -13.82 and a beta of 8.59.

Tron (NASDAQ:TRON) last issued its quarterly earnings data on Tuesday, August 11th. The company reported $0.01 EPS for the quarter. The firm 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 added to or reduced their stakes in the business. CTC Alternative Strategies Ltd. acquired a new stake in Tron in the first quarter worth about $27,000. Virtu Financial LLC purchased a new stake in shares of Tron during the fourth quarter worth about $52,000. State of Wyoming acquired a new position in shares of Tron during the first quarter valued at about $78,000. Deutsche Bank AG acquired a new position in shares of Tron during the second quarter valued at about $79,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Tron during the fourth quarter valued at about $80,000. 28.03% of the stock is owned by institutional investors and hedge funds.

About Tron

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.