Tron (NASDAQ:TRON) Shares Gap Up - Time to Buy?

Key Points

• Tron shares opened higher, rising from a prior close of $1.41 to $1.46 before trading around $1.4550, with 86,823 shares changing hands.
• Analyst sentiment remains negative: Wall Street Zen downgraded the stock to “sell,” Weiss Ratings maintained a sell-level assessment, and Tron has a consensus “Sell” rating.
• The company reported $1.57 million in quarterly revenue and earnings of $0.01 per share. Tron has shifted from licensed merchandise to a digital-asset strategy focused on building a TRX cryptocurrency treasury, while institutional investors own 28.03% of its stock.

Tron Inc. (NASDAQ:TRON - Get Free Report)'s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $1.41, but opened at $1.46. Tron shares last traded at $1.4550, with a volume of 86,823 shares traded.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on TRON shares. Wall Street Zen lowered Tron from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th. Weiss Ratings raised shares of Tron from a "sell (d-)" rating to a "sell (d)" rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Tron currently has a consensus rating of "Sell".

Tron Stock Performance

The company has a market capitalization of $680.74 million, a price-to-earnings ratio of -13.05 and a beta of 8.56. The firm has a 50-day simple moving average of $1.59 and a two-hundred day simple moving average of $1.82.

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 net margin of 135.58% and a negative return on equity of 5.60%. The business had revenue of $1.57 million for the quarter.

Hedge Funds Weigh In On Tron

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TRON. CTC Alternative Strategies Ltd. purchased a new stake in shares of Tron during the first quarter worth $27,000. State of Wyoming acquired a new position in Tron during the 1st quarter worth $78,000. Deutsche Bank AG acquired a new position in Tron during the 2nd quarter worth $79,000. Leonteq Securities AG purchased a new position in shares of Tron in the 1st quarter valued at about $91,000. Finally, Bank of America Corp DE acquired a new position in shares of Tron during the second quarter worth about $97,000. Hedge funds and other institutional investors own 28.03% of the company's stock.

Tron Company Profile

Tron Inc NASDAQ: TRON is a digital asset-focused company associated with the TRON blockchain ecosystem. Its activities center on building a corporate treasury of TRX, the native cryptocurrency of the TRON network, and supporting initiatives related to blockchain technology and digital assets.

The company was formerly known as SRM Entertainment, Inc, a business that developed, manufactured and distributed licensed merchandise and souvenirs for entertainment venues and attractions. Following its strategic shift toward digital assets, the company adopted the Tron Inc name and the TRON stock symbol.

Tron Inc is associated with Justin Sun, the founder of the TRON blockchain, who has played a prominent role in the company's digital asset strategy.

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