Tron (NASDAQ:TRON) Trading Down 9.4% – Should You Sell?

Tron Inc. (NASDAQ:TRON) shares fell 9.4% during trading on Tuesday . The stock traded as low as $1.58 and last traded at $1.5850. Approximately 1,545,951 shares changed hands during trading, an increase of 56% from the average session volume of 988,612 shares. The stock had previously closed at $1.75.

Wall Street Analyst Weigh In

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

Tron Price Performance

The stock has a 50-day moving average price of $1.59 and a 200-day moving average price of $1.80. The company has a market capitalization of $766.13 million, a price-to-earnings ratio of -14.77 and a beta of 8.56.

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

Hedge Funds Weigh In On Tron

Several large investors have recently modified their holdings of TRON. BlackRock Inc. acquired a new stake in shares of Tron during the 2nd quarter worth about $5,319,000. LPL Financial LLC bought a new position in Tron in the 4th quarter valued at about $1,018,000. Geode Capital Management LLC bought a new position in Tron in the 4th quarter valued at about $487,000. Renaissance Technologies LLC acquired a new stake in Tron during the fourth quarter worth approximately $348,000. Finally, Marshall Wace LLP acquired a new stake in Tron during the fourth quarter worth approximately $218,000. 28.03% of the stock is owned by 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.