Tron (NASDAQ:TRON) Issues Earnings Results

Tron (NASDAQ:TRON) posted its quarterly earnings results on Friday. The company reported $0.03 earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of $1.19 million for the quarter. Tron had a net margin of 135.58% and a negative return on equity of 5.60%.

Tron Trading Up 4.4%

NASDAQ TRON traded up $0.06 on Friday, hitting $1.41. 397,076 shares of the company’s stock were exchanged, compared to its average volume of 1,020,414. Tron has a 52 week low of $1.05 and a 52 week high of $2.95. The stock has a market cap of $668.88 million, a price-to-earnings ratio of -12.82 and a beta of 8.78. The stock has a 50-day moving average of $1.41 and a 200-day moving average of $1.67.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Wall Street Zen downgraded Tron from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Weiss Ratings raised Tron from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Sell rating. According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Hedge Funds Weigh In On Tron

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

Tron Company Profile

Tron, Inc (NASDAQ:TRON) is a digital asset treasury company focused on acquiring, holding and managing TRON (TRX), the native cryptocurrency of the TRON blockchain. The company’s strategy centers on providing public-market exposure to TRX while supporting activities related to the broader TRON ecosystem.

TRON is a blockchain platform designed to support decentralized applications, digital content distribution and cryptocurrency transactions. The network uses TRX for payments, governance and participation in its ecosystem, which includes developers, users and digital-content providers around the world.

Tron, Inc previously operated as SRM Entertainment, Inc, a company that developed and distributed consumer products and entertainment-related merchandise for theme parks and other venues.