Tron (NASDAQ:TRON) Stock Price Up 9.5% – Still a Buy?

Tron Inc. (NASDAQ:TRON) was up 9.5% on Wednesday . The company traded as high as $1.94 and last traded at $2.0140. Approximately 1,526,450 shares traded hands during mid-day trading, an increase of 89% from the average daily volume of 807,856 shares. The stock had previously closed at $1.84.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Tron in a research note on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Tron Stock Performance

The company’s fifty day simple moving average is $1.43 and its two-hundred day simple moving average is $2.05. The company has a market capitalization of $544.64 million, a price-to-earnings ratio of -49.61 and a beta of 13.84.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Virtu Financial LLC acquired a new stake in shares of Tron during the 4th quarter valued at approximately $52,000. Squarepoint Ops LLC bought a new stake in Tron during the fourth quarter valued at $80,000. Engineers Gate Manager LP acquired a new stake in shares of Tron during the fourth quarter worth $84,000. State Street Corp acquired a new stake in shares of Tron during the fourth quarter worth $90,000. Finally, Goldman Sachs Group Inc. bought a new position in shares of Tron in the 4th quarter worth about $116,000. 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.