Trump Media & Technology Group (NASDAQ:DJT) Shares Gap Up – Still a Buy?

Trump Media & Technology Group Corp. (NASDAQ:DJT) shares gapped up prior to trading on Tuesday . The stock had previously closed at $17.22, but opened at $18.62. Trump Media & Technology Group shares last traded at $17.97, with a volume of 6,423,896 shares trading hands.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Trump Media & Technology Group from a “hold” rating to a “sell” rating in a research note on Friday, June 6th.

Trump Media & Technology Group Stock Up 4.9%

The company has a debt-to-equity ratio of 0.41, a current ratio of 132.60 and a quick ratio of 132.60. The stock has a 50 day moving average price of $18.11 and a 200-day moving average price of $21.20. The stock has a market capitalization of $5.01 billion, a P/E ratio of -36.77 and a beta of 4.68.

Trump Media & Technology Group (NASDAQ:DJT) last announced its quarterly earnings data on Friday, August 1st. The company reported ($0.08) earnings per share for the quarter. Trump Media & Technology Group had a negative return on equity of 8.86% and a negative net margin of 2,922.66%.The business had revenue of $0.88 million during the quarter.

Trump Media & Technology Group declared that its board has authorized a share buyback program on Monday, June 23rd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the company to repurchase up to 10.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Trump Media & Technology Group

In other Trump Media & Technology Group news, Director Eric Swider sold 8,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $21.41, for a total value of $181,985.00. Following the completion of the transaction, the director directly owned 17,489 shares in the company, valued at $374,439.49. This represents a 32.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 53.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Trump Media & Technology Group

Several large investors have recently bought and sold shares of the business. Hudson Bay Capital Management LP bought a new stake in Trump Media & Technology Group during the second quarter valued at about $24,549,000. Vanguard Group Inc. increased its holdings in shares of Trump Media & Technology Group by 2.6% in the first quarter. Vanguard Group Inc. now owns 9,244,587 shares of the company’s stock valued at $180,639,000 after purchasing an additional 237,668 shares during the period. Nuveen LLC acquired a new position in shares of Trump Media & Technology Group in the first quarter valued at about $4,245,000. Geode Capital Management LLC boosted its stake in shares of Trump Media & Technology Group by 13.5% in the second quarter. Geode Capital Management LLC now owns 1,823,997 shares of the company’s stock worth $32,908,000 after buying an additional 216,718 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its stake in shares of Trump Media & Technology Group by 373.4% in the second quarter. Balyasny Asset Management L.P. now owns 244,162 shares of the company’s stock worth $4,405,000 after buying an additional 192,584 shares during the last quarter. Institutional investors own 4.29% of the company’s stock.

Trump Media & Technology Group Company Profile

Trump Media & Technology Group Corp. engages in operating social media and in the technology business. Its brands include TRUTH Social, TMTG+ and TMTG News. The company was founded on March 28, 2024 and is headquartered in Sarasota, FL.