Tron (NASDAQ:TRON) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Tron Inc. (NASDAQ:TRON) saw unusually-high trading volume on Monday . Approximately 906,509 shares traded hands during mid-day trading, a decline of 18% from the previous session’s volume of 1,110,784 shares.The stock last traded at $2.4360 and had previously closed at $2.17.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Tron in a research note on Friday. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Tron currently has a consensus rating of “Sell”.

Tron Price Performance

The firm has a 50-day moving average of $1.53 and a 200 day moving average of $1.98. The stock has a market capitalization of $631.07 million, a price-to-earnings ratio of -11.55 and a beta of 13.83.

Tron (NASDAQ:TRON) last posted its quarterly earnings results on Wednesday, March 25th. The company reported ($0.21) earnings per share for the quarter. Tron had a negative return on equity of 26.14% and a negative net margin of 354.61%.The company had revenue of $1.20 million for the quarter.

Hedge Funds Weigh In On Tron

A number of institutional investors have recently added to or reduced their stakes in TRON. Virtu Financial LLC bought a new stake in Tron during the fourth quarter worth $52,000. Squarepoint Ops LLC bought a new position in shares of Tron in the 4th quarter valued at about $80,000. Engineers Gate Manager LP acquired a new position in shares of Tron during the 4th quarter worth about $84,000. State Street Corp acquired a new position in shares of Tron during the 4th quarter worth about $90,000. Finally, Goldman Sachs Group Inc. bought a new stake in shares of Tron in the 4th quarter valued at about $116,000. 28.03% of the stock is currently owned by institutional investors and hedge funds.

Tron Company Profile

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.