Trump Media & Technology Group (NASDAQ:DJT) Shares Down 4.8% – Here’s Why

Trump Media & Technology Group Corp. (NASDAQ:DJT)’s share price dropped 4.8% during mid-day trading on Friday . The company traded as low as $11.38 and last traded at $11.4490. Approximately 2,981,216 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 7,228,897 shares. The stock had previously closed at $12.03.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Trump Media & Technology Group in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Trump Media & Technology Group presently has an average rating of “Sell”.

Trump Media & Technology Group Stock Performance

The firm has a market capitalization of $3.12 billion, a PE ratio of -19.04 and a beta of 4.56. The company has a quick ratio of 132.60, a current ratio of 42.78 and a debt-to-equity ratio of 0.42. The company has a 50-day moving average of $16.04 and a 200 day moving average of $18.67.

Insider Activity at Trump Media & Technology Group

In related news, Director Eric Swider sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $17.61, for a total value of $88,050.00. Following the transaction, the director directly owned 24,041 shares in the company, valued at approximately $423,362.01. This represents a 17.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 53.00% of the company’s stock.

Hedge Funds Weigh In On Trump Media & Technology Group

A number of hedge funds and other institutional investors have recently bought and sold shares of DJT. Spire Wealth Management grew its holdings in shares of Trump Media & Technology Group by 628.1% in the second quarter. Spire Wealth Management now owns 29,050 shares of the company’s stock worth $524,000 after purchasing an additional 25,060 shares during the last quarter. Swiss National Bank raised its holdings in Trump Media & Technology Group by 6.7% during the 1st quarter. Swiss National Bank now owns 168,100 shares of the company’s stock valued at $3,285,000 after buying an additional 10,600 shares during the last quarter. D.A. Davidson & CO. purchased a new stake in Trump Media & Technology Group during the 2nd quarter valued at $405,000. Bank of New York Mellon Corp grew its holdings in Trump Media & Technology Group by 19.2% in the 1st quarter. Bank of New York Mellon Corp now owns 231,726 shares of the company’s stock worth $4,528,000 after acquiring an additional 37,352 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Trump Media & Technology Group by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 9,244,587 shares of the company’s stock worth $180,639,000 after acquiring an additional 237,668 shares during the last quarter. Hedge funds and other institutional investors own 4.29% of the company’s stock.

About Trump Media & Technology Group

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.