Trident Digital Tech (NASDAQ:TDTH) Trading Down 14.3% – Should You Sell?

Trident Digital Tech Holdings Ltd (NASDAQ:TDTH) dropped 14.3% on Wednesday . The stock traded as low as $1.49 and last traded at $1.56. 63,515 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 134,893 shares. The stock had previously closed at $1.82.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded shares of Trident Digital Tech from a “sell (e+)” rating to a “sell (e)” rating in a research report on Monday, June 15th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

Trident Digital Tech Trading Down 2.0%

The company’s fifty day moving average is $2.14 and its two-hundred day moving average is $6.54.

Trident Digital Tech (NASDAQ:TDTH) last released its quarterly earnings data on Tuesday, April 28th. The company reported ($3.52) EPS for the quarter. The business had revenue of $0.06 million during the quarter.

Hedge Funds Weigh In On Trident Digital Tech

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC boosted its holdings in Trident Digital Tech by 547.5% in the 1st quarter. Renaissance Technologies LLC now owns 424,000 shares of the company’s stock worth $81,000 after acquiring an additional 358,513 shares during the period. J. Derek Lewis & Associates Inc. acquired a new position in shares of Trident Digital Tech during the fourth quarter worth $59,000. Finally, XTX Topco Ltd lifted its position in shares of Trident Digital Tech by 397.6% during the fourth quarter. XTX Topco Ltd now owns 96,217 shares of the company’s stock worth $29,000 after purchasing an additional 76,879 shares in the last quarter.

About Trident Digital Tech

Trident Digital Tech Holdings Ltd. engages in the provision of business consulting services and information technology customization solutions. Its products include Tridentity, TriVerse, TriEvents, and TriFood. The company was founded by Soon Huat Lim in 2014 and is headquartered in Singapore.