Trump Media & Technology Group (NASDAQ:DJT) Stock Sees Heavy Put Option Buying

Trump Media & Technology Group Corp. (NASDAQ:DJT) was the recipient of unusually large options trading activity on Tuesday. Traders acquired 21,143 put options on the company. This represents an increase of 16% compared to the typical daily volume of 18,220 put options.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on DJT. Wall Street Zen upgraded shares of Trump Media & Technology Group from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 10th. Weiss Ratings downgraded shares of Trump Media & Technology Group from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, September 2nd. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat, the stock currently has an average rating of “Sell”.

Trump Media & Technology Group Trading Down 0.7%

Shares of NASDAQ DJT traded down $0.04 during trading hours on Tuesday, hitting $6.39. 3,493,949 shares of the company traded hands, compared to its average volume of 4,233,329. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of -1.30 and a beta of 4.07. The company’s 50 day moving average price is $8.69 and its 200 day moving average price is $8.85. Trump Media & Technology Group has a 12 month low of $6.29 and a 12 month high of $17.09.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Global Assets Advisory LLC purchased a new stake in shares of Trump Media & Technology Group in the first quarter valued at $34,000. Root Financial Partners LLC lifted its holdings in shares of Trump Media & Technology Group by 44,011.1% in the 1st quarter. Root Financial Partners LLC now owns 3,970 shares of the company’s stock worth $37,000 after acquiring an additional 3,961 shares during the last quarter. Nykredit A S bought a new stake in shares of Trump Media & Technology Group in the 2nd quarter worth about $31,000. Farther Finance Advisors LLC boosted its stake in shares of Trump Media & Technology Group by 55.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,734 shares of the company’s stock worth $43,000 after purchasing an additional 1,691 shares during the period. Finally, Strategic Wealth Partners Ltd. boosted its stake in shares of Trump Media & Technology Group by 60.1% during the 2nd quarter. Strategic Wealth Partners Ltd. now owns 6,660 shares of the company’s stock worth $52,000 after purchasing an additional 2,500 shares during the period. 4.29% of the stock is owned by hedge funds and other institutional investors.

About Trump Media & Technology Group

Trump Media & Technology Group Corp. is a technology and media company that develops social media, streaming and financial-services products. Its primary platform is Truth Social, a social networking service designed to support user-generated content, discussion and content sharing.

The company also operates Truth+, a streaming platform offering video content, including news, entertainment and other programming. In addition, TMTG has introduced Truth.Fi, a financial-services and fintech initiative intended to provide products such as investment accounts and exchange-traded funds through third-party partners.