Tron (NASDAQ:TRON) Trading 8.2% Higher – Here’s What Happened

Tron Inc. (NASDAQ:TRON) shares shot up 8.2% on Monday . The stock traded as high as $1.58 and last traded at $1.58. Approximately 43,912 shares changed hands during trading, a decline of 95% from the average session volume of 953,266 shares. The stock had previously closed at $1.46.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Tron from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, June 16th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Tron presently has an average rating of “Sell”.

Tron Trading Up 0.6%

The stock has a market capitalization of $744.78 million, a price-to-earnings ratio of -14.27 and a beta of 8.48. The stock has a 50-day simple moving average of $1.67 and a 200 day simple moving average of $1.76.

Tron (NASDAQ:TRON) last issued its earnings results on Friday, May 8th. The company reported $0.05 earnings per share for the quarter. The company had revenue of $1.18 million for the quarter. Tron had a negative return on equity of 7.27% and a net margin of 112.96%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. CTC Alternative Strategies Ltd. purchased a new stake in Tron in the 1st quarter worth approximately $27,000. Virtu Financial LLC purchased a new position in shares of Tron during the 4th quarter valued at $52,000. State of Wyoming acquired a new position in shares of Tron in the first quarter worth $78,000. Squarepoint Ops LLC acquired a new position in shares of Tron in the fourth quarter worth $80,000. Finally, Engineers Gate Manager LP purchased a new stake in shares of Tron during the fourth quarter worth $84,000. Institutional investors and hedge funds own 28.03% of the company’s stock.

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.