Trump Media & Technology Group (NASDAQ:DJT) Stock Price Down 6.8% – Should You Sell?

Shares of Trump Media & Technology Group Corp. (NASDAQ:DJT) were down 6.8% on Wednesday. The stock traded as low as $5.92 and last traded at $5.9250. Approximately 4,612,863 shares were traded during trading, an increase of 9% from the average daily volume of 4,240,400 shares. The stock had previously closed at $6.36.

Analysts Set New Price Targets

Several equities analysts have recently commented on DJT shares. Wall Street Zen lowered shares of Trump Media & Technology Group from a “sell” rating to a “strong sell” rating in a research report on Saturday. Weiss Ratings lowered Trump Media & Technology Group from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, September 2nd. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company has a consensus rating of “Sell”.

Trump Media & Technology Group Trading Down 6.8%

The company has a market cap of $1.65 billion, a P/E ratio of -1.21 and a beta of 4.07. The firm’s fifty day moving average price is $8.44 and its 200-day moving average price is $9.48.

Institutional Investors Weigh In On Trump Media & Technology Group

Large investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in Trump Media & Technology Group during the 2nd quarter worth about $101,684,000. State Street Corp increased its position in shares of Trump Media & Technology Group by 32.0% during the second quarter. State Street Corp now owns 4,191,672 shares of the company’s stock worth $32,444,000 after acquiring an additional 1,015,305 shares in the last quarter. Yorkville Advisors Global LP acquired a new stake in shares of Trump Media & Technology Group in the second quarter valued at approximately $17,618,903. Anson Funds Management LP bought a new position in shares of Trump Media & Technology Group in the first quarter valued at $6,598,000. Finally, Bank of New York Mellon Corp acquired a new stake in Trump Media & Technology Group during the second quarter worth approximately $4,047,000. 4.29% of the stock is currently owned by institutional investors.

Trump Media & Technology Group Company Profile

Trump Media & Technology Group Corp. is a media and technology company focused on developing social media, streaming and other digital services. Its principal platform is Truth Social, a social networking service that enables users to create posts, follow accounts and participate in online discussions.

The company also operates Truth+, a streaming platform offering video content, including news and entertainment programming. TMTG has additionally announced plans to develop Truth.Fi, a financial services and technology initiative intended to include products such as separately managed accounts, exchange-traded funds and other investment-related offerings.