Tron (NASDAQ:TRON) Stock Falls 11% – Here’s Why

Tron Inc. (NASDAQ:TRON)’s share price was down 11% on Friday. The company traded as low as $1.43 and last traded at $1.3350. 363,617 shares were traded during trading, a decline of 62% from the average session volume of 964,778 shares. The stock had previously closed at $1.50.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Weiss Ratings upgraded Tron from a “sell (d-)” rating to a “sell (d)” rating in a report on Tuesday, August 11th. Wall Street Zen lowered shares of Tron from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Tron Price Performance

The business has a 50 day moving average of $1.51 and a 200 day moving average of $1.72. The company has a market cap of $713.47 million, a PE ratio of -13.68 and a beta of 8.69.

Tron (NASDAQ:TRON) last released its quarterly earnings data on Tuesday, August 11th. The company reported $0.01 EPS for the quarter. The company had revenue of $1.57 million during 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 have recently modified their holdings of TRON. BlackRock Inc. bought a new stake in shares of Tron in the 2nd quarter valued at $5,319,000. Bank of New York Mellon Corp acquired a new position in Tron during the 2nd quarter worth approximately $277,000. Bank of America Corp DE boosted its position in shares of Tron by 180.7% during the 1st quarter. Bank of America Corp DE now owns 118,068 shares of the company’s stock valued at $268,000 after purchasing an additional 76,011 shares in the last quarter. Deutsche Bank AG bought a new position in shares of Tron during the 2nd quarter worth approximately $79,000. Finally, Leonteq Securities AG acquired a new position in shares of Tron during the first quarter valued at about $91,000. Institutional investors and hedge funds own 28.03% of the company’s stock.

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.