Trump Media & Technology Group (NASDAQ:DJT) Shares Up 8.7% – Time to Buy?

Trump Media & Technology Group Corp. (NASDAQ:DJT)’s stock price shot up 8.7% during mid-day trading on Thursday . The stock traded as high as $9.06 and last traded at $9.38. 900,664 shares were traded during trading, a decline of 78% from the average session volume of 4,119,766 shares. The stock had previously closed at $8.63.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Trump Media & Technology Group in a report on Monday, May 4th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Trump Media & Technology Group currently has an average rating of “Sell”.

Trump Media & Technology Group Stock Down 6.0%

The company has a fifty day simple moving average of $9.05 and a 200-day simple moving average of $10.83. The firm has a market cap of $2.29 billion, a P/E ratio of -2.01 and a beta of 4.06.

Institutional Trading of Trump Media & Technology Group

Several hedge funds have recently bought and sold shares of DJT. Motiv8 Investments LLC bought a new position in shares of Trump Media & Technology Group in the fourth quarter worth about $30,000. Global Assets Advisory LLC bought a new position in shares of Trump Media & Technology Group in the first quarter worth about $34,000. Root Financial Partners LLC boosted its stake in shares of Trump Media & Technology Group by 44,011.1% in the first quarter. Root Financial Partners LLC now owns 3,970 shares of the company’s stock worth $37,000 after acquiring an additional 3,961 shares during the period. International Assets Investment Management LLC bought a new position in shares of Trump Media & Technology Group in the fourth quarter worth about $40,000. Finally, Larson Financial Group LLC boosted its stake in shares of Trump Media & Technology Group by 70.7% in the fourth quarter. Larson Financial Group LLC now owns 3,104 shares of the company’s stock worth $41,000 after acquiring an additional 1,286 shares during the period. Institutional investors own 4.29% of the company’s stock.

About Trump Media & Technology Group

Trump Media & Technology Group (NASDAQ: DJT) is a U.S.-based digital media and technology company focused on social networking and content distribution. The firm’s flagship offering, Truth Social, is designed as an alternative social media platform with features for user-generated posts, direct messaging and community engagement. In addition to its core social network, TMTG has signaled plans for a subscription-based streaming service and other digital content ventures under the TMTG+ brand, aiming to expand its multimedia footprint.

Founded in October 2021 by former President Donald J.