Trump Media & Technology Group (NASDAQ:DJT) Lowered to “Strong Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Trump Media & Technology Group (NASDAQ:DJT) to a strong sell rating in a report released on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings cut Trump Media & Technology Group from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Trump Media & Technology Group has a consensus rating of “Sell”.

Trump Media & Technology Group Trading Down 5.3%

Shares of DJT stock opened at $9.02 on Friday. Trump Media & Technology Group has a 12-month low of $6.96 and a 12-month high of $17.97. The stock’s 50-day moving average price is $9.09 and its 200-day moving average price is $9.16. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of -1.84 and a beta of 4.05.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in DJT. Vanguard Group Inc. raised its position in Trump Media & Technology Group by 6.9% during the fourth quarter. Vanguard Group Inc. now owns 15,857,828 shares of the company’s stock valued at $209,958,000 after purchasing an additional 1,023,677 shares during the period. BlackRock Inc. bought a new stake in shares of Trump Media & Technology Group in the 2nd quarter valued at approximately $101,684,000. Yorkville Advisors Global LP boosted its holdings in shares of Trump Media & Technology Group by 7.6% in the 4th quarter. Yorkville Advisors Global LP now owns 6,641,944 shares of the company’s stock worth $87,939,000 after purchasing an additional 471,881 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Trump Media & Technology Group by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 3,087,747 shares of the company’s stock worth $40,891,000 after purchasing an additional 113,536 shares during the period. Finally, State Street Corp increased its position in shares of Trump Media & Technology Group by 22.7% during the 4th quarter. State Street Corp now owns 2,962,844 shares of the company’s stock valued at $39,228,000 after purchasing an additional 547,488 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 (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.