Tron (NASDAQ:TRON) Shares Down 7.3% – Here’s Why

Tron Inc. (NASDAQ:TRON)’s share price was down 7.3% during trading on Tuesday . The stock traded as low as $2.21 and last traded at $2.2260. Approximately 254,718 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 1,121,209 shares. The stock had previously closed at $2.40.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Tron in a research report on Friday, March 27th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Tron presently has a consensus rating of “Sell”.

Tron Price Performance

The company has a market capitalization of $598.15 million, a PE ratio of -10.90 and a beta of 11.82. The business has a 50-day moving average of $1.64 and a 200 day moving average of $1.94.

Institutional Investors Weigh In On Tron

A number of hedge funds have recently made changes to their positions in TRON. Virtu Financial LLC purchased a new stake in shares of Tron in the fourth quarter worth about $52,000. Squarepoint Ops LLC purchased a new stake in shares of Tron in the fourth quarter worth about $80,000. Engineers Gate Manager LP purchased a new stake in shares of Tron in the fourth quarter worth about $84,000. State Street Corp purchased a new stake in shares of Tron in the fourth quarter worth about $90,000. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of Tron in the fourth quarter worth about $116,000. 28.03% of the stock is currently owned by hedge funds and other institutional investors.

About Tron

SRM Entertainment, Inc designs, manufactures, and sells toys and souvenirs to theme parks. It sells its products through amusement parks, entertainment venues, and theme hotels in the United States, China, Japan, and internationally. The company was incorporated in 2022 and is based in Jupiter, Florida.