Trump Media & Technology Group (NASDAQ:DJT) Trading Down 7.4% – Here’s Why

Trump Media & Technology Group Corp. (NASDAQ:DJT) dropped 7.4% during mid-day trading on Tuesday . The company traded as low as $9.00 and last traded at $9.05. Approximately 2,035,222 shares changed hands during trading, a decline of 53% from the average session volume of 4,359,840 shares. The stock had previously closed at $9.77.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Trump Media & Technology Group in a research report on Friday, July 31st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

Trump Media & Technology Group Stock Performance

The business’s 50 day moving average price is $9.01 and its 200-day moving average price is $9.17. The firm has a market capitalization of $2.64 billion, a PE ratio of -1.94 and a beta of 4.05.

Institutional Investors Weigh In On Trump Media & Technology Group

Institutional investors have recently modified their holdings of the company. Captrust Financial Advisors raised its position in shares of Trump Media & Technology Group by 9.5% during the 2nd quarter. Captrust Financial Advisors now owns 11,149 shares of the company’s stock worth $201,000 after acquiring an additional 963 shares in the last quarter. Rakuten Securities Inc. boosted its holdings in Trump Media & Technology Group by 40.7% in the second quarter. Rakuten Securities Inc. now owns 3,466 shares of the company’s stock valued at $63,000 after purchasing an additional 1,002 shares in the last quarter. IFP Advisors Inc boosted its holdings in Trump Media & Technology Group by 21.9% in the fourth quarter. IFP Advisors Inc now owns 6,157 shares of the company’s stock valued at $82,000 after purchasing an additional 1,105 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Trump Media & Technology Group by 8.5% in the third quarter. Envestnet Asset Management Inc. now owns 14,242 shares of the company’s stock valued at $234,000 after purchasing an additional 1,115 shares during the last quarter. Finally, Private Advisor Group LLC raised its holdings in Trump Media & Technology Group by 8.3% during the third quarter. Private Advisor Group LLC now owns 15,256 shares of the company’s stock worth $251,000 after purchasing an additional 1,174 shares in the last quarter. 4.29% of the stock is owned by institutional investors and hedge funds.

Trump Media & Technology Group Company Profile

Trump Media & Technology Group (NASDAQ: DJT) is a U.S.-based digital media and technology company focused on social networking and content distribution. The firm’s flagship offering, Truth Social, is designed as an alternative social media platform with features for user-generated posts, direct messaging and community engagement. In addition to its core social network, TMTG has signaled plans for a subscription-based streaming service and other digital content ventures under the TMTG+ brand, aiming to expand its multimedia footprint.

Founded in October 2021 by former President Donald J.