Tron (NASDAQ:TRON) Stock Falls 11% - What's Next?

Key Points

• Tron shares fell 11% to $1.335 on Friday, with trading volume down 62% from its average. The stock remains below its 50-day and 200-day moving averages and has a market capitalization of about $713 million.
• Analyst sentiment is strongly negative: one analyst rates Tron “Sell,” another downgraded it from “Hold” to “Sell,” and the company’s average rating is “Sell.”
• Tron reported quarterly revenue of $1.57 million and earnings of $0.01 per share. The company is transitioning from its former entertainment-merchandise business to a digital-asset treasury strategy focused on acquiring and managing TRON’s TRX cryptocurrency.

Tron Inc. (NASDAQ:TRON - Get Free Report) fell 11% on Friday. The stock traded as low as $1.43 and last traded at $1.3350. 363,617 shares traded hands during trading, a decline of 62% from the average daily volume of 964,778 shares. The stock had previously closed at $1.50.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Weiss Ratings raised shares of Tron from a "sell (d-)" rating to a "sell (d)" rating in a research note on Tuesday, August 11th. Wall Street Zen cut Tron from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. One analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company currently has an average rating of "Sell".

Tron Trading Up 0.3%

The firm has a 50-day moving average of $1.51 and a two-hundred day moving average of $1.72. The firm has a market capitalization of $713.47 million, a P/E ratio of -13.68 and a beta of 8.69.

Tron (NASDAQ:TRON - Get Free Report) last announced 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 firm had revenue of $1.57 million during the quarter.

Institutional Trading of Tron

Institutional investors have recently modified their holdings of the business. Bank of America Corp DE bought a new position in Tron in the 2nd quarter valued at $97,000. BlackRock Inc. purchased a new position in shares of Tron in the second quarter worth $5,319,000. Deutsche Bank AG bought a new position in Tron in the second quarter worth $79,000. Bank of New York Mellon Corp bought a new position in Tron in the 2nd quarter worth about $277,000. Finally, CTC Alternative Strategies Ltd. bought a new stake in shares of Tron in the 1st quarter worth $27,000. 28.03% of the stock is currently owned by hedge funds and other institutional investors.

About Tron

Tron, Inc NASDAQ: TRON is a digital asset treasury company focused on acquiring, holding and managing TRON (TRX), the native cryptocurrency of the TRON blockchain. The company's strategy centers on providing public-market exposure to TRX while supporting activities related to the broader TRON ecosystem.

TRON is a blockchain platform designed to support decentralized applications, digital content distribution and cryptocurrency transactions. The network uses TRX for payments, governance and participation in its ecosystem, which includes developers, users and digital-content providers around the world.

Tron, Inc previously operated as SRM Entertainment, Inc, a company that developed and distributed consumer products and entertainment-related merchandise for theme parks and other venues.

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