Tron (NASDAQ:TRON) Stock Price Down 8.5% – Time to Sell?

Shares of Tron Inc. (NASDAQ:TRON) dropped 8.5% during trading on Thursday. The company traded as low as $1.4150 and last traded at $1.4050. Approximately 347,130 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 972,525 shares. The stock had previously closed at $1.5350.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on TRON shares. Wall Street Zen downgraded shares of Tron from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings upgraded shares of Tron from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat, Tron currently has an average rating of “Sell”.

Tron Trading Down 7.8%

The company has a market capitalization of $671.25 million, a P/E ratio of -12.86 and a beta of 8.69. The stock has a 50 day moving average price of $1.50 and a 200 day moving average price of $1.68.

Tron (NASDAQ:TRON) last released its quarterly earnings data on Tuesday, August 11th. The company reported $0.01 earnings per share for the quarter. The company had revenue of $1.57 million for 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

Large investors have recently bought and sold shares of the company. Bank of America Corp DE acquired a new stake in shares of Tron during the second quarter valued at about $97,000. BlackRock Inc. bought a new stake in shares of Tron during the second quarter worth about $5,319,000. Deutsche Bank AG acquired a new position in shares of Tron in the second quarter valued at approximately $79,000. Bank of New York Mellon Corp acquired a new position in shares of Tron in the second quarter valued at approximately $277,000. Finally, CTC Alternative Strategies Ltd. bought a new position in Tron in the 1st quarter valued at approximately $27,000. 28.03% of the stock is currently owned by institutional investors.

Tron Company Profile

Tron, Inc (NASDAQ:TRON) is a digital asset treasury company focused on acquiring, holding and managing TRON (TRX), the native cryptocurrency of the TRON blockchain. The company’s strategy centers on providing public-market exposure to TRX while supporting activities related to the broader TRON ecosystem.

TRON is a blockchain platform designed to support decentralized applications, digital content distribution and cryptocurrency transactions. The network uses TRX for payments, governance and participation in its ecosystem, which includes developers, users and digital-content providers around the world.

Tron, Inc previously operated as SRM Entertainment, Inc, a company that developed and distributed consumer products and entertainment-related merchandise for theme parks and other venues.