Tron (NASDAQ:TRON) Shares Gap Down – Here’s What Happened

Tron Inc. (NASDAQ:TRON)’s share price gapped down before the market opened on Monday . The stock had previously closed at $2.08, but opened at $1.99. Tron shares last traded at $1.7150, with a volume of 648,648 shares.

Analyst Ratings Changes

Several brokerages have commented on TRON. Wall Street Zen downgraded shares of Tron from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings raised shares of Tron from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday, August 11th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Tron Trading Down 17.3%

The stock’s 50 day moving average is $1.58 and its two-hundred day moving average is $1.79. The stock has a market capitalization of $815.94 million, a price-to-earnings ratio of -15.64 and a beta of 8.59.

Tron (NASDAQ:TRON) last issued its quarterly earnings results on Tuesday, August 11th. The company reported $0.01 EPS for the quarter. The company had revenue of $1.57 million for the quarter. Tron had a negative return on equity of 5.60% and a net margin of 135.58%.

Hedge Funds Weigh In On Tron

A number of large investors have recently bought and sold shares of TRON. BlackRock Inc. acquired a new stake in Tron in the 2nd quarter valued at $5,319,000. LPL Financial LLC bought a new stake in shares of Tron during the 4th quarter worth approximately $1,018,000. Geode Capital Management LLC acquired a new stake in shares of Tron in the 4th quarter valued at approximately $487,000. Renaissance Technologies LLC acquired a new stake in shares of Tron in the 4th quarter valued at approximately $348,000. Finally, Marshall Wace LLP bought a new position in shares of Tron in the fourth quarter valued at $218,000. Institutional investors and hedge funds own 28.03% of the company’s stock.

Tron Company Profile

SRM Entertainment, Inc designs, manufactures, and sells toys and souvenirs to theme parks. It sells its products through amusement parks, entertainment venues, and theme hotels in the United States, China, Japan, and internationally. The company was incorporated in 2022 and is based in Jupiter, Florida.