Tron (NASDAQ:TRON) Stock Price Up 12.3% – Should You Buy?

Tron Inc. (NASDAQ:TRON)’s stock price rose 12.3% during trading on Tuesday . The stock traded as high as $2.16 and last traded at $2.1450. Approximately 1,197,361 shares changed hands during trading, an increase of 16% from the average daily volume of 1,033,474 shares. The stock had previously closed at $1.91.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed 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, Based on data from MarketBeat, the company has an average rating of “Sell”.

Tron Stock Up 14.1%

The firm has a market capitalization of $1.03 billion, a P/E ratio of -19.82 and a beta of 8.77. The company has a fifty day simple moving average of $2.18 and a 200 day simple moving average of $1.80.

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

Hedge Funds Weigh In On Tron

Hedge funds have recently added to or reduced their stakes in the company. CTC Alternative Strategies Ltd. purchased a new position in shares of Tron in the first quarter worth $27,000. Virtu Financial LLC purchased a new stake in shares of Tron during the fourth quarter valued at $52,000. State of Wyoming bought a new stake in Tron in the 1st quarter worth about $78,000. Squarepoint Ops LLC bought a new stake in Tron in the 4th quarter worth about $80,000. Finally, Engineers Gate Manager LP purchased a new position in Tron in the 4th quarter worth about $84,000. 28.03% of the stock is currently owned by hedge funds and other institutional investors.

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.