Tron (NASDAQ:TRON) Shares Up 4.9% – What’s Next?

Tron Inc. (NASDAQ:TRON)’s share price shot up 4.9% on Wednesday . The company traded as high as $2.20 and last traded at $2.2140. 425,852 shares changed hands during trading, a decline of 56% from the average session volume of 969,548 shares. The stock had previously closed at $2.11.

Wall Street Analysts Forecast Growth

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

Tron Price Performance

The firm has a market cap of $1.03 billion, a P/E ratio of -19.72 and a beta of 8.59. The company’s 50-day simple moving average is $1.56 and its 200 day simple moving average is $1.77.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Tron during the 2nd quarter worth about $5,319,000. LPL Financial LLC bought a new stake in shares of Tron in the fourth quarter valued at about $1,018,000. Geode Capital Management LLC purchased a new stake in Tron in the fourth quarter worth about $487,000. Renaissance Technologies LLC purchased a new stake in Tron in the fourth quarter worth about $348,000. Finally, Marshall Wace LLP bought a new position in Tron during the 4th quarter worth about $218,000. 28.03% of the stock is owned by hedge funds and other institutional investors.

About Tron

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.