Trump Media & Technology Group (NASDAQ:DJT) Sets New 1-Year Low – Time to Sell?

Trump Media & Technology Group Corp. (NASDAQ:DJT) shares reached a new 52-week low during mid-day trading on Friday. The company traded as low as $6.93 and last traded at $6.9250, with a volume of 3,178,953 shares trading hands. The stock had previously closed at $7.40.

Wall Street Analysts Forecast Growth

DJT has been the topic of a number of recent research reports. Weiss Ratings downgraded Trump Media & Technology Group from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, September 2nd. Wall Street Zen raised Trump Media & Technology Group from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 10th. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

Trump Media & Technology Group Stock Down 6.1%

The stock’s 50-day moving average price is $8.81 and its 200 day moving average price is $8.88. The company has a market cap of $1.93 billion, a P/E ratio of -1.42 and a beta of 4.07.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of DJT. BlackRock Inc. acquired a new position in Trump Media & Technology Group during the 2nd quarter worth $101,684,000. Yorkville Advisors Global LP bought a new position in shares of Trump Media & Technology Group in the second quarter worth about $17,618,903. State Street Corp increased its stake 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 purchasing an additional 1,015,305 shares during the period. Anson Funds Management LP bought a new position in shares of Trump Media & Technology Group in the first quarter worth about $6,598,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Trump Media & Technology Group during the 2nd quarter worth about $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 technology and media company that develops social media, streaming and financial-services products. Its primary platform is Truth Social, a social networking service designed to support user-generated content, discussion and content sharing.

The company also operates Truth+, a streaming platform offering video content, including news, entertainment and other programming. In addition, TMTG has introduced Truth.Fi, a financial-services and fintech initiative intended to provide products such as investment accounts and exchange-traded funds through third-party partners.