Trump Media & Technology Group (NASDAQ:DJT) Cut to Strong Sell at Wall Street Zen

Wall Street Zen cut shares of Trump Media & Technology Group (NASDAQ:DJT) from a sell rating to a strong sell rating in a research report sent to investors on Sunday morning,Wall Street Zen reports.

Separately, Weiss Ratings cut Trump Media & Technology Group from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, September 2nd. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat.com, Trump Media & Technology Group presently has a consensus rating of “Sell”.

Trump Media & Technology Group Stock Up 5.1%

NASDAQ DJT opened at $5.95 on Friday. The firm’s fifty day moving average price is $8.15 and its two-hundred day moving average price is $9.27. Trump Media & Technology Group has a fifty-two week low of $5.40 and a fifty-two week high of $17.09.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in shares of Trump Media & Technology Group during the second quarter worth $101,684,000. State Street Corp boosted its holdings in shares of Trump Media & Technology Group by 32.0% in the second quarter. State Street Corp now owns 4,191,672 shares of the company’s stock worth $32,444,000 after acquiring an additional 1,015,305 shares during the period. Yorkville Advisors Global LP purchased a new position in shares of Trump Media & Technology Group in the second quarter valued at $17,618,903. Anson Funds Management LP purchased a new position in shares of Trump Media & Technology Group in the first quarter valued at $6,598,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Trump Media & Technology Group in the second quarter valued at $4,047,000. Institutional investors own 4.29% of the company’s stock.

Trump Media & Technology Group Company Profile

Trump Media & Technology Group Corp. is a media and technology company focused on developing social media, streaming and other digital services. Its principal platform is Truth Social, a social networking service that enables users to create posts, follow accounts and participate in online discussions.

The company also operates Truth+, a streaming platform offering video content, including news and entertainment programming. TMTG has additionally announced plans to develop Truth.Fi, a financial services and technology initiative intended to include products such as separately managed accounts, exchange-traded funds and other investment-related offerings.