Tron (NASDAQ:TRON) Stock Price Up 5.9% – Time to Buy?

Tron Inc. (NASDAQ:TRON)’s stock price traded up 5.9% during trading on Friday . The stock traded as high as $1.53 and last traded at $1.5150. 435,716 shares changed hands during mid-day trading, a decline of 56% from the average daily volume of 984,471 shares. The stock had previously closed at $1.43.

Analyst Upgrades and Downgrades

TRON has been the topic of several recent research reports. Weiss Ratings raised Tron from a “sell (d-)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. Wall Street Zen lowered shares of Tron from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Tron presently has an average rating of “Sell”.

Tron Trading Up 5.2%

The firm has a market capitalization of $713.94 million, a P/E ratio of -13.68 and a beta of 8.56. The firm has a 50 day moving average price of $1.59 and a 200-day moving average price of $1.82.

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

Institutional Investors Weigh In On Tron

Several hedge funds have recently modified their holdings of the business. CTC Alternative Strategies Ltd. acquired a new position in Tron during the 1st quarter valued at about $27,000. State of Wyoming acquired a new stake in Tron in the first quarter worth about $78,000. Leonteq Securities AG purchased a new stake in shares of Tron during the first quarter worth about $91,000. Deutsche Bank AG purchased a new stake in shares of Tron during the second quarter worth about $79,000. Finally, Bank of America Corp DE acquired a new position in Tron during the 2nd quarter valued at approximately $97,000. Hedge funds and other institutional investors own 28.03% of the company’s stock.

About Tron

Tron Inc (NASDAQ: TRON) is a digital asset-focused company associated with the TRON blockchain ecosystem. Its activities center on building a corporate treasury of TRX, the native cryptocurrency of the TRON network, and supporting initiatives related to blockchain technology and digital assets.

The company was formerly known as SRM Entertainment, Inc, a business that developed, manufactured and distributed licensed merchandise and souvenirs for entertainment venues and attractions. Following its strategic shift toward digital assets, the company adopted the Tron Inc name and the TRON stock symbol.

Tron Inc is associated with Justin Sun, the founder of the TRON blockchain, who has played a prominent role in the company’s digital asset strategy.