Tron (NASDAQ:TRON) Shares Up 10.3% – What’s Next?

Tron Inc. (NASDAQ:TRON)’s stock price rose 10.3% during mid-day trading on Wednesday . The stock traded as high as $1.6250 and last traded at $1.6550. Approximately 228,349 shares were traded during trading, a decline of 75% from the average daily volume of 901,289 shares. The stock had previously closed at $1.50.

Analysts Set New Price Targets

Several research firms have weighed in on TRON. Wall Street Zen downgraded shares of Tron from a “hold” rating to a “sell” rating in a report on Saturday. 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 research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

Tron Stock Performance

The company has a market capitalization of $756.64 million, a PE ratio of -14.50 and a beta of 8.59. The stock’s fifty day simple moving average is $1.54 and its 200-day simple moving average is $1.75.

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

Institutional Trading of Tron

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp purchased a new position in shares of Tron during the 2nd quarter worth $277,000. Virtu Financial LLC acquired a new position in Tron in the fourth quarter valued at $52,000. Quadrature Capital Ltd acquired a new position in Tron in the fourth quarter valued at $118,000. Engineers Gate Manager LP purchased a new position in Tron during the fourth quarter worth about $84,000. Finally, Squarepoint Ops LLC purchased a new position in Tron during the fourth quarter worth about $80,000. 28.03% of the stock is owned by hedge funds and other institutional investors.

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.