Tron (NASDAQ:TRON) Sets New 12-Month Low – Here’s Why

Tron Inc. (NASDAQ:TRON)’s share price reached a new 52-week low during trading on Thursday. The company traded as low as $1.1150 and last traded at $1.1350, with a volume of 168,229 shares. The stock had previously closed at $1.20.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TRON. Wall Street Zen lowered shares of Tron from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Weiss Ratings raised shares of 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. Based on data from MarketBeat, Tron currently has an average rating of “Sell”.

Tron Trading Down 6.0%

The company has a market capitalization of $524.19 million, a P/E ratio of -10.05 and a beta of 8.69. The business has a 50 day moving average price of $1.53 and a 200 day moving average price of $1.75.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in shares of Tron during the 2nd quarter worth approximately $5,319,000. Bank of New York Mellon Corp acquired a new stake in shares of Tron in the 2nd quarter valued at approximately $277,000. Bank of America Corp DE boosted its holdings in shares of Tron by 180.7% in the 1st quarter. Bank of America Corp DE now owns 118,068 shares of the company’s stock valued at $268,000 after buying an additional 76,011 shares during the last quarter. Deutsche Bank AG bought a new position in shares of Tron in the second quarter valued at $79,000. Finally, Leonteq Securities AG bought a new position in shares of Tron in the first quarter valued at $91,000. 28.03% of the stock is owned by institutional investors and hedge funds.

Tron Company Profile

Tron Inc (NASDAQ: TRON) is a publicly traded digital asset treasury company focused on supporting the TRON blockchain ecosystem. Its strategy centers on holding TRX, the native cryptocurrency of the TRON network, and participating in initiatives related to blockchain technology and decentralized applications.

The company was formerly known as SRM Entertainment, Inc, a business that developed and supplied licensed merchandise and consumer products for entertainment and theme-park brands.