Tron (NASDAQ:TRON) Downgraded by Wall Street Zen to Sell

Wall Street Zen downgraded shares of Tron (NASDAQ:TRON) from a hold rating to a sell rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings raised shares of Tron from a “sell (d-)” rating to a “sell (d)” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

Tron Stock Performance

Tron stock opened at $1.52 on Friday. Tron has a 52-week low of $1.12 and a 52-week high of $7.11. The firm has a 50 day moving average price of $1.55 and a two-hundred day moving average price of $1.75. The firm has a market cap of $721.06 million, a price-to-earnings ratio of -13.82 and a beta of 8.59.

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

Hedge Funds Weigh In On Tron

A number of institutional investors and hedge funds have recently modified their holdings of TRON. CTC Alternative Strategies Ltd. acquired a new stake in shares of Tron during the 1st quarter worth approximately $27,000. State of Wyoming acquired a new position in shares of Tron during the 1st quarter valued at $78,000. Leonteq Securities AG acquired a new position in shares of Tron during the 1st quarter valued at $91,000. Virtu Financial LLC acquired a new position in shares of Tron during the 4th quarter valued at $52,000. Finally, Deutsche Bank AG bought a new position in Tron during the second quarter worth $79,000. 28.03% of the stock is currently 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.