Tron (NASDAQ:TRON) Stock Price Up 12% – Time to Buy?

Tron Inc. (NASDAQ:TRON) traded up 12% during trading on Tuesday. The company traded as high as $1.36 and last traded at $1.3950. 606,927 shares changed hands during mid-day trading, a decline of 37% from the average daily volume of 970,034 shares. The stock had previously closed at $1.2450.

Analysts Set New Price Targets

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

Tron Stock Performance

The firm has a market cap of $661.76 million, a price-to-earnings ratio of -12.59 and a beta of 8.69. The company’s fifty day moving average is $1.51 and its two-hundred day moving average is $1.68.

Tron (NASDAQ:TRON) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.01 earnings per share 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 during the quarter.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. CTC Alternative Strategies Ltd. purchased a new stake in shares of Tron in the first quarter worth about $27,000. State of Wyoming acquired a new position in Tron during the 1st quarter worth approximately $78,000. Deutsche Bank AG acquired a new position in Tron during the 2nd quarter worth approximately $79,000. Leonteq Securities AG acquired a new position in Tron during the 1st quarter worth approximately $91,000. Finally, Bank of America Corp DE purchased a new position in Tron in the 2nd quarter worth approximately $97,000. Institutional investors and hedge funds 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.