Tron (NASDAQ:TRON) Stock Price Up 8.1% – Here’s Why

Shares of Tron Inc. (NASDAQ:TRON) shot up 8.1% during mid-day trading on Thursday . The company traded as high as $1.67 and last traded at $1.6750. Approximately 446,566 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 994,166 shares. The stock had previously closed at $1.55.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Wall Street Zen cut Tron from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Weiss Ratings upgraded Tron from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Tron has an average rating of “Sell”.

Tron Stock Down 9.8%

The business’s fifty day moving average price is $1.60 and its 200 day moving average price is $1.80. The firm has a market capitalization of $702.08 million, a PE ratio of -13.45 and a beta of 8.56.

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

Institutional Investors Weigh In On Tron

Hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC acquired a new position in Tron in the fourth quarter valued at $487,000. Goldman Sachs Group Inc. purchased a new stake in Tron in the 4th quarter valued at about $116,000. LPL Financial LLC acquired a new position in shares of Tron during the 4th quarter valued at about $1,018,000. Renaissance Technologies LLC acquired a new position in shares of Tron during the 4th quarter valued at about $348,000. Finally, State Street Corp purchased a new position in shares of Tron during the 4th quarter worth about $90,000. Institutional investors and hedge funds own 28.03% of the company’s stock.

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.