Trump Media & Technology Group (NASDAQ:DJT) Cut to Strong Sell at Wall Street Zen

Key Points

• Wall Street Zen downgraded Trump Media & Technology Group to “strong sell” from “sell,” while Weiss Ratings also lowered its rating. MarketBeat data shows a consensus “Sell” rating.
• DJT shares opened at $5.59, near their 12-month low of $5.40 and well below the 12-month high of $17.09. The company has a $1.55 billion market capitalization and a beta of 4.07, indicating high volatility.
• Institutional investors including BlackRock and State Street recently increased or initiated positions, but institutions collectively own only 4.29% of the stock.

Trump Media & Technology Group (NASDAQ:DJT - Get Free Report) was downgraded by analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a research note issued on Sunday, Wall Street Zen reports.

Separately, Weiss Ratings lowered 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, the company has a consensus rating of "Sell".

Trump Media & Technology Group Stock Down 3.3%

Shares of DJT stock opened at $5.59 on Friday. Trump Media & Technology Group has a 12-month low of $5.40 and a 12-month high of $17.09. The firm has a fifty day moving average of $8.29 and a 200-day moving average of $9.35. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of -1.14 and a beta of 4.07.

Institutional Investors Weigh In On Trump Media & Technology Group

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

About Trump Media & Technology Group

Trump Media & Technology Group Corp. is a media and technology company focused on developing social media, streaming and other digital services. Its principal platform is Truth Social, a social networking service that enables users to create posts, follow accounts and participate in online discussions.

The company also operates Truth+, a streaming platform offering video content, including news and entertainment programming. TMTG has additionally announced plans to develop Truth.Fi, a financial services and technology initiative intended to include products such as separately managed accounts, exchange-traded funds and other investment-related offerings.

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