Tron (NASDAQ:TRON) Sets New 52-Week Low - Time to Sell?

Key Points

• Tron shares fell 4.1% to a new 52-week low of $1.1150, well below their 50-day and 200-day moving averages, with a market capitalization of approximately $546 million.
• Analyst sentiment is strongly negative: Wall Street Zen downgraded the stock to “sell,” and MarketBeat reports an overall average rating of “Sell.”
• Tron reported quarterly revenue of $1.57 million and earnings of $0.01 per share, while institutional investors own 28.03% of the company after several funds initiated or increased positions.

Tron Inc. (NASDAQ:TRON - Get Free Report) hit a new 52-week low during trading on Thursday. The company traded as low as $1.1150 and last traded at $1.1350, with a volume of 168,229 shares traded. The stock had previously closed at $1.20.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Wall Street Zen cut shares of Tron from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Weiss Ratings upgraded 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 MarketBeat, the company presently has an average rating of "Sell".

Tron Trading Down 4.1%

The company has a market cap of $546.01 million, a price-to-earnings ratio of -10.59 and a beta of 8.69. The business has a fifty day moving average of $1.55 and a two-hundred day moving average of $1.76.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in Tron in the 2nd quarter valued at $5,319,000. Bank of New York Mellon Corp purchased a new stake in Tron in the 2nd quarter worth $277,000. Bank of America Corp DE raised its position in Tron by 180.7% during the first quarter. Bank of America Corp DE now owns 118,068 shares of the company's stock worth $268,000 after acquiring an additional 76,011 shares during the period. Deutsche Bank AG acquired a new position in Tron during the second quarter worth $79,000. Finally, Leonteq Securities AG purchased a new position in Tron during the first quarter valued at $91,000. Hedge funds and other institutional investors own 28.03% of the company's stock.

About Tron

Tron Inc NASDAQ: TRON is a publicly traded digital asset treasury company focused on supporting the TRON blockchain ecosystem. Its strategy centers on holding TRX, the native cryptocurrency of the TRON network, and participating in initiatives related to blockchain technology and decentralized applications.

The company was formerly known as SRM Entertainment, Inc, a business that developed and supplied licensed merchandise and consumer products for entertainment and theme-park brands.

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