Tron (NASDAQ:TRON) Shares Gap Down – What’s Next?

Shares of Tron Inc. (NASDAQ:TRON) gapped down prior to trading on Monday . The stock had previously closed at $2.08, but opened at $1.99. Tron shares last traded at $1.7150, with a volume of 648,648 shares trading hands.

Analysts Set New Price Targets

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

Tron Stock Performance

The firm has a market cap of $815.94 million, a P/E ratio of -15.64 and a beta of 8.59. The firm’s fifty day moving average is $1.58 and its 200 day moving average is $1.79.

Tron (NASDAQ:TRON) last issued its quarterly earnings data on Tuesday, August 11th. The company reported $0.01 earnings per share (EPS) for the quarter. Tron had a net margin of 135.58% and a negative return on equity of 5.60%. The firm had revenue of $1.57 million during the quarter.

Institutional Trading of Tron

Institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE bought a new position in Tron during the 2nd quarter worth $97,000. BlackRock Inc. bought a new stake in shares of Tron in the second quarter valued at about $5,319,000. Deutsche Bank AG bought a new stake in shares of Tron in the second quarter valued at about $79,000. Bank of New York Mellon Corp acquired a new position in shares of Tron in the second quarter valued at about $277,000. Finally, CTC Alternative Strategies Ltd. acquired a new position in shares of Tron in the first quarter valued at about $27,000. 28.03% of the stock is currently owned by institutional investors.

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.