Tron (NASDAQ:TRON) Stock Price Up 9.5% – Should You Buy?

Shares of Tron Inc. (NASDAQ:TRON) traded up 9.5% on Tuesday. The company traded as high as $1.1850 and last traded at $1.2050. Approximately 368,060 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 950,779 shares. The stock had previously closed at $1.10.

Analyst Ratings Changes

Several equities research analysts recently issued reports on TRON shares. Wall Street Zen downgraded 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 note on Tuesday, August 11th. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat, the stock has a consensus rating of “Sell”.

Tron Stock Performance

The company’s 50 day simple moving average is $1.51 and its 200 day simple moving average is $1.72. The stock has a market cap of $588.23 million, a PE ratio of -11.27 and a beta of 8.69.

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

Institutional Inflows and Outflows

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

Tron Company Profile

Tron, Inc (NASDAQ:TRON) is a digital asset treasury company focused on acquiring, holding and managing TRON (TRX), the native cryptocurrency of the TRON blockchain. The company’s strategy centers on providing public-market exposure to TRX while supporting activities related to the broader TRON ecosystem.

TRON is a blockchain platform designed to support decentralized applications, digital content distribution and cryptocurrency transactions. The network uses TRX for payments, governance and participation in its ecosystem, which includes developers, users and digital-content providers around the world.

Tron, Inc previously operated as SRM Entertainment, Inc, a company that developed and distributed consumer products and entertainment-related merchandise for theme parks and other venues.