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

Trump Media & Technology Group (NASDAQ:DJT) was downgraded by research analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a report issued on Sunday, Wall Street Zen reports.

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

Trump Media & Technology Group Stock Up 1.3%

Shares of NASDAQ:DJT opened at $5.66 on Friday. Trump Media & Technology Group has a 12-month low of $5.40 and a 12-month high of $17.09. The business has a fifty day simple moving average of $8.22 and a 200 day simple moving average of $9.31.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position in shares of Trump Media & Technology Group by 0.3% in the 1st quarter. Bank of New York Mellon Corp now owns 417,269 shares of the company’s stock worth $3,872,000 after acquiring an additional 1,398 shares in the last quarter. NewEdge Advisors LLC lifted its stake in shares of Trump Media & Technology Group by 11.9% in the 1st quarter. NewEdge Advisors LLC now owns 13,966 shares of the company’s stock valued at $130,000 after purchasing an additional 1,488 shares during the period. Royal Bank of Canada lifted its stake in shares of Trump Media & Technology Group by 8.5% in the 1st quarter. Royal Bank of Canada now owns 21,451 shares of the company’s stock valued at $200,000 after purchasing an additional 1,676 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Trump Media & Technology Group by 55.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,734 shares of the company’s stock valued at $43,000 after purchasing an additional 1,691 shares in the last quarter. Finally, Axxcess Wealth Management LLC boosted its position in shares of Trump Media & Technology Group by 2.8% during the 3rd quarter. Axxcess Wealth Management LLC now owns 72,161 shares of the company’s stock valued at $654,000 after purchasing an additional 1,960 shares in the last quarter. Institutional investors own 4.29% of the company’s stock.

About Trump Media & Technology Group

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.