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

Wall Street Zen lowered shares of Trump Media & Technology Group (NASDAQ:DJT) from a sell rating to a strong sell rating in a research report report published on Saturday,Wall Street Zen reports.

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

Trump Media & Technology Group Stock Down 3.2%

Shares of NASDAQ DJT opened at $6.40 on Friday. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of -1.31 and a beta of 4.07. Trump Media & Technology Group has a 52-week low of $6.28 and a 52-week high of $17.09. The business’s 50 day moving average is $8.53 and its two-hundred day moving average is $8.77.

Hedge Funds Weigh In On Trump Media & Technology Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Global Assets Advisory LLC acquired a new stake in Trump Media & Technology Group in the first quarter valued at $34,000. Root Financial Partners LLC boosted its holdings in shares of Trump Media & Technology Group by 44,011.1% in the 1st quarter. Root Financial Partners LLC now owns 3,970 shares of the company’s stock valued at $37,000 after buying an additional 3,961 shares in the last quarter. Nykredit A S acquired a new stake in shares of Trump Media & Technology Group during the second quarter worth about $31,000. Farther Finance Advisors LLC increased its position in shares of Trump Media & Technology Group by 55.6% during the third quarter. Farther Finance Advisors LLC now owns 4,734 shares of the company’s stock worth $43,000 after purchasing an additional 1,691 shares in the last quarter. Finally, Strategic Wealth Partners Ltd. increased its position in shares of Trump Media & Technology Group by 60.1% during the second quarter. Strategic Wealth Partners Ltd. now owns 6,660 shares of the company’s stock worth $52,000 after purchasing an additional 2,500 shares in the last quarter. Hedge funds and other 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.