Tron (NASDAQ:TRON) Releases Earnings Results

Tron (NASDAQ:TRON) posted its quarterly earnings data on Friday. The company reported $0.03 EPS for the quarter, FiscalAI reports. Tron had a negative return on equity of 5.60% and a net margin of 135.58%. The business had revenue of $1.19 million for the quarter.

Tron Stock Performance

Shares of TRON stock opened at $1.41 on Friday. The company has a market capitalization of $668.88 million, a PE ratio of -12.82 and a beta of 8.78. Tron has a 52-week low of $1.05 and a 52-week high of $2.95. The business’s fifty day moving average is $1.41 and its 200 day moving average is $1.67.

Hedge Funds Weigh In On Tron

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in shares of Tron in the 2nd quarter valued at about $5,319,000. Bank of America Corp DE bought a new stake in shares of Tron during the 2nd quarter valued at about $97,000. Deutsche Bank AG bought a new stake in shares of Tron during the 2nd quarter valued at about $79,000. Bank of New York Mellon Corp purchased a new position in shares of Tron during the second quarter worth about $277,000. Finally, State of Wyoming purchased a new position in shares of Tron during the first quarter worth about $78,000. 28.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

About Tron

Tron, Inc (NASDAQ:TRON) is a digital asset treasury company focused on acquiring, holding and managing TRON (TRX), the native cryptocurrency of the TRON blockchain. The company’s strategy centers on providing public-market exposure to TRX while supporting activities related to the broader TRON ecosystem.

TRON is a blockchain platform designed to support decentralized applications, digital content distribution and cryptocurrency transactions. The network uses TRX for payments, governance and participation in its ecosystem, which includes developers, users and digital-content providers around the world.

Tron, Inc previously operated as SRM Entertainment, Inc, a company that developed and distributed consumer products and entertainment-related merchandise for theme parks and other venues.