Tron (NASDAQ:TRON) Trading Down 9.4% – Here’s What Happened

Tron Inc. (NASDAQ:TRON)’s stock price was down 9.4% during trading on Tuesday . The stock traded as low as $1.58 and last traded at $1.5850. Approximately 1,545,951 shares were traded during mid-day trading, an increase of 56% from the average session volume of 988,612 shares. The stock had previously closed at $1.75.

Analyst Ratings Changes

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

Tron Trading Down 5.7%

The stock has a market cap of $782.73 million, a PE ratio of -15.00 and a beta of 8.59. The company’s 50 day moving average is $1.59 and its 200-day moving average is $1.79.

Tron (NASDAQ:TRON) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $0.01 earnings per share for the quarter. The company had revenue of $1.57 million during the quarter. Tron had a net margin of 135.58% and a negative return on equity of 5.60%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new position in Tron in the second quarter valued at about $5,319,000. LPL Financial LLC purchased a new stake in Tron during the 4th quarter worth approximately $1,018,000. Geode Capital Management LLC acquired a new position in shares of Tron in the 4th quarter valued at approximately $487,000. Renaissance Technologies LLC acquired a new position in shares of Tron in the 4th quarter valued at approximately $348,000. Finally, Marshall Wace LLP purchased a new position in shares of Tron during the 4th quarter valued at approximately $218,000. Institutional investors and hedge funds own 28.03% of the company’s stock.

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.