Trump Media & Technology Group (NASDAQ:DJT) Sets New 52-Week Low – Time to Sell?

Trump Media & Technology Group Corp. (NASDAQ:DJT)’s share price hit a new 52-week low during mid-day trading on Thursday. The company traded as low as $5.72 and last traded at $5.9340, with a volume of 889,400 shares. The stock had previously closed at $5.97.

Wall Street Analyst Weigh In

Several brokerages have recently commented on DJT. 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. Wall Street Zen lowered shares of Trump Media & Technology Group from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 24th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat, Trump Media & Technology Group currently has a consensus rating of “Sell”.

Trump Media & Technology Group Stock Down 3.3%

The business’s 50 day moving average price is $8.29 and its two-hundred day moving average price is $9.35.

Hedge Funds Weigh In On Trump Media & Technology Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in DJT. Nykredit A S bought a new stake in Trump Media & Technology Group during the 2nd quarter worth $31,000. Global Assets Advisory LLC acquired a new position in shares of Trump Media & Technology Group in the first quarter valued at approximately $34,000. Root Financial Partners LLC increased its stake in shares of Trump Media & Technology Group by 44,011.1% in the first quarter. Root Financial Partners LLC now owns 3,970 shares of the company’s stock valued at $37,000 after buying an additional 3,961 shares during the period. Farther Finance Advisors LLC raised its holdings in Trump Media & Technology Group by 55.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,734 shares of the company’s stock valued at $43,000 after buying an additional 1,691 shares during the last quarter. Finally, Strategic Wealth Partners Ltd. raised its holdings in Trump Media & Technology Group by 60.1% in the 2nd quarter. Strategic Wealth Partners Ltd. now owns 6,660 shares of the company’s stock valued at $52,000 after buying an additional 2,500 shares during the last quarter. Institutional investors own 4.29% of the company’s stock.

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.