Trump Media & Technology Group (NASDAQ:DJT) Reaches New 12-Month Low – Here’s Why

Shares of Trump Media & Technology Group Corp. (NASDAQ:DJT) hit a new 52-week low during mid-day trading on Friday. The company traded as low as $6.93 and last traded at $6.9250, with a volume of 3,178,953 shares traded. The stock had previously closed at $7.40.

Analysts Set New Price Targets

DJT has been the subject of several recent analyst reports. Wall Street Zen raised Trump Media & Technology Group from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 10th. Weiss Ratings cut shares of Trump Media & Technology Group from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, September 2nd. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, Trump Media & Technology Group currently has a consensus rating of “Sell”.

Trump Media & Technology Group Price Performance

The firm’s fifty day moving average price is $8.74 and its 200-day moving average price is $8.86. The firm has a market capitalization of $1.94 billion, a P/E ratio of -1.43 and a beta of 4.07.

Hedge Funds Weigh In On Trump Media & Technology Group

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of Trump Media & Technology Group during the second quarter valued at $101,684,000. Yorkville Advisors Global LP purchased a new position in Trump Media & Technology Group in the 2nd quarter worth about $17,618,903. State Street Corp increased its stake in Trump Media & Technology Group by 32.0% in the 2nd quarter. State Street Corp now owns 4,191,672 shares of the company’s stock worth $32,444,000 after purchasing an additional 1,015,305 shares in the last quarter. Anson Funds Management LP purchased a new position in Trump Media & Technology Group in the 1st quarter worth about $6,598,000. Finally, Bank of New York Mellon Corp purchased a new position in Trump Media & Technology Group in the 2nd quarter worth about $4,047,000. 4.29% of the stock is currently owned by institutional investors and hedge funds.

About Trump Media & Technology Group

Trump Media & Technology Group Corp. is a technology and media company that develops social media, streaming and financial-services products. Its primary platform is Truth Social, a social networking service designed to support user-generated content, discussion and content sharing.

The company also operates Truth+, a streaming platform offering video content, including news, entertainment and other programming. In addition, TMTG has introduced Truth.Fi, a financial-services and fintech initiative intended to provide products such as investment accounts and exchange-traded funds through third-party partners.