Tron (NASDAQ:TRON) Trading 8.2% Higher – Time to Buy?

Tron Inc. (NASDAQ:TRON)’s share price rose 8.2% during mid-day trading on Monday . The stock traded as high as $1.58 and last traded at $1.58. Approximately 43,912 shares changed hands during trading, a decline of 95% from the average daily volume of 953,266 shares. The stock had previously closed at $1.46.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Tron from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, June 16th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Tron Stock Performance

The stock has a market cap of $749.52 million, a PE ratio of -14.32 and a beta of 8.48. The business has a 50 day moving average price of $1.68 and a two-hundred day moving average price of $1.76.

Tron (NASDAQ:TRON) last posted its quarterly earnings data on Friday, May 8th. The company reported $0.05 earnings per share (EPS) for the quarter. The business had revenue of $1.18 million during the quarter. Tron had a net margin of 112.96% and a negative return on equity of 7.27%.

Institutional Investors Weigh In On Tron

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. LPL Financial LLC bought a new stake in shares of Tron during the fourth quarter valued at about $1,018,000. Geode Capital Management LLC purchased a new stake in Tron in the 4th quarter worth approximately $487,000. Renaissance Technologies LLC bought a new position in Tron in the 4th quarter valued at $348,000. Marshall Wace LLP bought a new position in Tron in the 4th quarter valued at $218,000. Finally, Millennium Management LLC purchased a new position in shares of Tron during the 4th quarter valued at $164,000. Institutional investors 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.