Tron (NASDAQ:TRON) Stock Price Down 3.9% – Here’s Why

Tron Inc. (NASDAQ:TRON)’s stock price traded down 3.9% during trading on Thursday . The stock traded as low as $1.67 and last traded at $1.71. 222,112 shares changed hands during trading, a decline of 78% from the average session volume of 990,671 shares. The stock had previously closed at $1.78.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Tron in a research note on Friday, March 27th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Tron has a consensus rating of “Sell”.

Tron Stock Performance

The stock has a market capitalization of $834.91 million, a price-to-earnings ratio of -16.00 and a beta of 8.31. The company’s 50 day moving average is $2.12 and its 200 day moving average is $1.79.

Tron (NASDAQ:TRON) last released its earnings results on Friday, May 8th. The company reported $0.05 EPS for the quarter. The firm had revenue of $1.18 million during the quarter. Tron had a net margin of 112.96% and a negative return on equity of 7.27%.

Institutional Investors Weigh In On Tron

Several institutional investors and hedge funds have recently bought and sold shares of TRON. Millennium Management LLC bought a new stake in shares of Tron in the 4th quarter worth about $164,000. ExodusPoint Capital Management LP bought a new stake in shares of Tron in the 4th quarter worth about $155,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Tron in the 4th quarter worth about $143,000. Quadrature Capital Ltd bought a new stake in shares of Tron in the 4th quarter worth about $118,000. Finally, Goldman Sachs Group Inc. bought a new stake in shares of Tron in the 4th quarter worth about $116,000. Institutional investors own 28.03% of the company’s stock.

About Tron

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.