Tron (NASDAQ:TRON) Trading Down 6.2% – Here’s Why

Tron Inc. (NASDAQ:TRON)’s stock price was down 6.2% during mid-day trading on Wednesday . The company traded as low as $2.10 and last traded at $2.13. Approximately 181,585 shares traded hands during trading, a decline of 84% from the average daily volume of 1,116,500 shares. The stock had previously closed at $2.27.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Tron in a report on Friday. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Tron has an average rating of “Sell”.

Tron Stock Down 6.2%

The stock has a market cap of $584.43 million, a price-to-earnings ratio of -10.93 and a beta of 13.84. The company’s 50-day simple moving average is $1.56 and its 200-day simple moving average is $1.96.

Tron (NASDAQ:TRON) last announced its quarterly earnings data on Wednesday, March 25th. The company reported ($0.21) EPS for the quarter. The company had revenue of $1.20 million for the quarter. Tron had a negative net margin of 354.61% and a negative return on equity of 26.14%.

Institutional Trading of Tron

A number of hedge funds have recently bought and sold shares of the company. LPL Financial LLC purchased a new position in shares of Tron in the fourth quarter worth approximately $1,018,000. Geode Capital Management LLC acquired a new position in Tron in the 4th quarter worth approximately $487,000. Renaissance Technologies LLC acquired a new position in Tron in the 4th quarter worth approximately $348,000. Marshall Wace LLP purchased a new position in Tron during the 4th quarter worth approximately $218,000. Finally, Millennium Management LLC purchased a new position in Tron during the 4th quarter worth approximately $164,000. 28.03% of the stock is 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.