Trump Media & Technology Group (NASDAQ:DJT) Trading Up 8.4% – Should You Buy?

Trump Media & Technology Group Corp. (NASDAQ:DJT)’s stock price shot up 8.4% during mid-day trading on Thursday . The company traded as high as $8.55 and last traded at $8.6940. 819,398 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 4,302,859 shares. The stock had previously closed at $8.02.

Analyst Ratings Changes

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

Trump Media & Technology Group Price Performance

The company has a market cap of $2.36 billion, a P/E ratio of -2.07 and a beta of 4.10. The business has a 50-day moving average price of $8.48 and a two-hundred day moving average price of $10.41.

Institutional Trading of Trump Media & Technology Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Captrust Financial Advisors boosted its stake in shares of Trump Media & Technology Group by 9.5% in the 2nd quarter. Captrust Financial Advisors now owns 11,149 shares of the company’s stock valued at $201,000 after purchasing an additional 963 shares during the last quarter. Rakuten Securities Inc. grew its position in shares of Trump Media & Technology Group by 40.7% during the 2nd quarter. Rakuten Securities Inc. now owns 3,466 shares of the company’s stock worth $63,000 after buying an additional 1,002 shares during the period. RIA Advisory Group LLC raised its stake in shares of Trump Media & Technology Group by 7.4% during the fourth quarter. RIA Advisory Group LLC now owns 15,163 shares of the company’s stock worth $201,000 after buying an additional 1,050 shares during the last quarter. IFP Advisors Inc raised its stake in shares of Trump Media & Technology Group by 21.9% during the fourth quarter. IFP Advisors Inc now owns 6,157 shares of the company’s stock worth $82,000 after buying an additional 1,105 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in Trump Media & Technology Group by 8.5% in the third quarter. Envestnet Asset Management Inc. now owns 14,242 shares of the company’s stock valued at $234,000 after buying an additional 1,115 shares during the period. 4.29% of the stock is owned by institutional investors.

Trump Media & Technology Group Company Profile

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.