Trump Media & Technology Group (NASDAQ:DJT) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Trump Media & Technology Group from “sell” to “strong sell,” while Weiss Ratings also lowered its assessment. MarketBeat reports a consensus “Sell” rating.
• DJT opened at $6.40, near its 52-week low of $6.28 and well below its 50-day and 200-day moving averages of $8.53 and $8.77.
• Institutional investors own only 4.29% of the stock, despite several hedge funds and advisory firms recently initiating or increasing small positions.

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 report released on Saturday, 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, September 2nd. One research analyst has rated the stock with a Sell rating. According to MarketBeat, Trump Media & Technology Group presently has a consensus rating of "Sell".

Trump Media & Technology Group Stock Performance

DJT stock opened at $6.40 on Friday. The company has a 50-day moving average of $8.53 and a two-hundred day moving average of $8.77. Trump Media & Technology Group has a 52-week low of $6.28 and a 52-week high of $17.09.

Hedge Funds Weigh In On Trump Media & Technology Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Global Assets Advisory LLC bought a new position in Trump Media & Technology Group during the first quarter worth about $34,000. Root Financial Partners LLC grew its holdings in shares of Trump Media & Technology Group by 44,011.1% in the 1st quarter. Root Financial Partners LLC now owns 3,970 shares of the company's stock valued at $37,000 after buying an additional 3,961 shares during the period. Nykredit A S acquired a new position in shares of Trump Media & Technology Group in the 2nd quarter valued at $31,000. Farther Finance Advisors LLC grew its holdings in shares of Trump Media & Technology Group by 55.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,734 shares of the company's stock valued at $43,000 after buying an additional 1,691 shares during the period. Finally, Strategic Wealth Partners Ltd. increased its position in shares of Trump Media & Technology Group by 60.1% in the 2nd quarter. Strategic Wealth Partners Ltd. now owns 6,660 shares of the company's stock valued at $52,000 after buying an additional 2,500 shares in the last quarter. 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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