Tron (NASDAQ:TRON) Sets New 52-Week Low – Time to Sell?

Shares of Tron Inc. (NASDAQ:TRON) reached a new 52-week low during trading on Thursday. The company traded as low as $1.1150 and last traded at $1.1350, with a volume of 168,229 shares traded. The stock had previously closed at $1.20.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TRON. Weiss Ratings raised shares of Tron from a “sell (d-)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. Wall Street Zen cut Tron from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat, Tron presently has an average rating of “Sell”.

Tron Stock Down 4.1%

The stock has a market capitalization of $546.01 million, a PE ratio of -10.59 and a beta of 8.69. The company has a 50-day moving average of $1.55 and a 200 day moving average of $1.76.

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

Institutional Trading of Tron

Several large investors have recently bought and sold shares of TRON. Bank of America Corp DE acquired a new stake in Tron in the 2nd quarter valued at about $97,000. BlackRock Inc. purchased a new stake in shares of Tron in the second quarter valued at approximately $5,319,000. Deutsche Bank AG acquired a new stake in shares of Tron in the second quarter valued at approximately $79,000. Bank of New York Mellon Corp acquired a new stake in shares of Tron in the second quarter valued at approximately $277,000. Finally, CTC Alternative Strategies Ltd. purchased a new position in Tron during the first quarter worth approximately $27,000. Hedge funds and other institutional investors own 28.03% of the company’s stock.

About Tron

Tron Inc (NASDAQ: TRON) is a publicly traded digital asset treasury company focused on supporting the TRON blockchain ecosystem. Its strategy centers on holding TRX, the native cryptocurrency of the TRON network, and participating in initiatives related to blockchain technology and decentralized applications.

The company was formerly known as SRM Entertainment, Inc, a business that developed and supplied licensed merchandise and consumer products for entertainment and theme-park brands.