Tron (NASDAQ:TRON) Shares Gap Down – What’s Next?

Shares of Tron Inc. (NASDAQ:TRON) gapped down before the market opened on Monday . The stock had previously closed at $2.08, but opened at $1.99. Tron shares last traded at $1.7150, with a volume of 648,648 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of Tron from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday, August 11th. Wall Street Zen lowered shares of Tron from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Tron currently has a consensus rating of “Sell”.

Tron Stock Down 6.3%

The firm has a fifty day moving average of $1.59 and a 200-day moving average of $1.80. The stock has a market capitalization of $777.98 million, a price-to-earnings ratio of -14.91 and a beta of 8.56.

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

Hedge Funds Weigh In On Tron

Hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. acquired a new position in Tron during the fourth quarter worth about $116,000. State Street Corp acquired a new stake in shares of Tron in the fourth quarter valued at approximately $90,000. Engineers Gate Manager LP purchased a new position in shares of Tron during the 4th quarter worth approximately $84,000. Squarepoint Ops LLC purchased a new position in shares of Tron during the 4th quarter worth approximately $80,000. Finally, Virtu Financial LLC acquired a new position in shares of Tron during the 4th quarter worth approximately $52,000. 28.03% of the stock is currently 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.