Tron (NASDAQ:TRON) Shares Climb 9.5% - Here's Why

Key Points

• Tron shares rose 9.5% to $1.2050 during Tuesday trading, although volume was 61% below the average session level.
• Analyst sentiment remains negative: Tron has an average “Sell” rating, with Wall Street Zen downgrading the stock and Weiss Ratings slightly improving its sell assessment.
• Institutional investors own 28.03% of the company, with BlackRock establishing a new $5.3 million position and Bank of America increasing its holdings by 180.7%.

Tron Inc. (NASDAQ:TRON - Get Free Report)'s stock price was up 9.5% during trading on Tuesday. The company traded as high as $1.1850 and last traded at $1.2050. Approximately 368,060 shares changed hands during trading, a decline of 61% from the average session volume of 950,779 shares. The stock had previously closed at $1.10.

Analyst Upgrades and Downgrades

TRON has been the topic of several recent analyst reports. Weiss Ratings raised Tron from a "sell (d-)" rating to a "sell (d)" rating in a report on Tuesday, August 11th. Wall Street Zen lowered Tron from a "hold" rating to a "sell" rating in a report on Saturday, August 15th. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, Tron presently has an average rating of "Sell".

Tron Trading Up 7.7%

The firm has a 50-day moving average price of $1.52 and a 200 day moving average price of $1.74. The company has a market cap of $562.14 million, a price-to-earnings ratio of -10.79 and a beta of 8.69.

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

Hedge Funds Weigh In On Tron

Hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of Tron during the second quarter worth $5,319,000. Bank of New York Mellon Corp acquired a new stake in Tron in the second quarter valued at $277,000. Bank of America Corp DE raised its holdings in Tron by 180.7% in the 1st quarter. Bank of America Corp DE now owns 118,068 shares of the company's stock valued at $268,000 after acquiring an additional 76,011 shares during the period. Deutsche Bank AG bought a new position in shares of Tron during the second quarter worth approximately $79,000. Finally, Leonteq Securities AG acquired a new stake in Tron in the first quarter valued at about $91,000. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.