Tron (NASDAQ:TRON) Sees Strong Trading Volume – Time to Buy?

Tron Inc. (NASDAQ:TRON) shares saw strong trading volume on Thursday. Approximately 1,251,105 shares changed hands during trading, an increase of 31% from the previous session’s volume of 952,226 shares. The stock last traded at $1.4050 and had previously closed at $1.24.

Wall Street Analyst Weigh In

TRON has been the subject of several research reports. Weiss Ratings upgraded shares of Tron from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday, August 11th. Wall Street Zen downgraded shares of Tron from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat.com, the stock currently has an average rating of “Sell”.

Tron Stock Performance

The firm’s 50-day moving average is $1.51 and its two-hundred day moving average is $1.72. The stock has a market cap of $711.57 million, a P/E ratio of -13.64 and a beta of 8.69.

Tron (NASDAQ:TRON) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $0.01 earnings per share (EPS) for the quarter. The firm 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%.

Institutional Investors Weigh In On Tron

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE bought a new stake in shares of Tron during the second quarter worth $97,000. BlackRock Inc. bought a new position in Tron in the second quarter valued at about $5,319,000. Deutsche Bank AG bought a new position in Tron in the second quarter valued at about $79,000. Bank of New York Mellon Corp bought a new position in Tron in the second quarter valued at about $277,000. Finally, CTC Alternative Strategies Ltd. bought a new position in Tron in the first quarter valued at about $27,000. Institutional investors own 28.03% of the company’s stock.

About Tron

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.