Trump Media & Technology Group (NASDAQ:DJT) Hits New 52-Week Low – What’s Next?

Trump Media & Technology Group Corp. (NASDAQ:DJT) hit a new 52-week low during mid-day trading on Friday. The company traded as low as $6.28 and last traded at $6.3950, with a volume of 1,150,417 shares changing hands. The stock had previously closed at $6.61.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Wall Street Zen raised shares of Trump Media & Technology Group from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 10th. Weiss Ratings cut shares of Trump Media & Technology Group from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, September 2nd. One analyst has rated the stock with a Sell rating. According to MarketBeat, the company presently has a consensus rating of “Sell”.

Trump Media & Technology Group Price Performance

The stock has a 50-day moving average price of $8.57 and a 200 day moving average price of $8.79. The company has a market cap of $1.78 billion, a price-to-earnings ratio of -1.31 and a beta of 4.07.

Hedge Funds Weigh In On Trump Media & Technology Group

Several large investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Trump Media & Technology Group in the second quarter valued at $101,684,000. Yorkville Advisors Global LP bought a new position in shares of Trump Media & Technology Group during the 2nd quarter worth $17,618,903. State Street Corp increased its position in shares of Trump Media & Technology Group by 32.0% during the second quarter. State Street Corp now owns 4,191,672 shares of the company’s stock valued at $32,444,000 after buying 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 approximately $6,598,000. Finally, Bank of New York Mellon Corp bought a new stake in Trump Media & Technology Group in the 2nd quarter worth approximately $4,047,000. 4.29% of the stock is currently owned by institutional investors.

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.