Tron (NASDAQ:TRON) Stock Jumps 12% - Time to Buy?

Key Points

• Tron shares jumped 12% to approximately $1.395 during mid-day trading, although volume was 37% below the average session volume.
• Analyst sentiment remains negative: Tron has a consensus “Sell” rating, with one analyst rating the stock Sell and another recently downgrading it from Hold to Sell.
• The company reported $1.57 million in quarterly revenue and $0.01 in earnings per share, while its stock carries a high beta of 8.69 and a negative price-to-earnings ratio.

Tron Inc. (NASDAQ:TRON - Get Free Report) shares rose 12% during mid-day trading on Tuesday. The company traded as high as $1.36 and last traded at $1.3950. 606,927 shares changed hands during mid-day trading, a decline of 37% from the average session volume of 970,034 shares. The stock had previously closed at $1.2450.

Analyst Ratings Changes

TRON has been the topic of several analyst reports. Weiss Ratings upgraded Tron from a "sell (d-)" rating to a "sell (d)" rating in a report on Tuesday, August 11th. Wall Street Zen lowered shares of Tron from a "hold" rating to a "sell" rating in a report on Saturday, August 15th. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat, Tron currently has a consensus rating of "Sell".

Tron Stock Up 12.0%

The firm has a market capitalization of $661.76 million, a price-to-earnings ratio of -12.59 and a beta of 8.69. The business's 50-day simple moving average is $1.51 and its two-hundred day simple moving average is $1.68.

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

Institutional Trading of Tron

Large investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Tron during the 2nd quarter worth approximately $5,319,000. CTC Alternative Strategies Ltd. purchased a new position in Tron in the 1st quarter valued at approximately $27,000. State of Wyoming acquired a new stake in Tron in the first quarter valued at $78,000. Deutsche Bank AG purchased a new position in shares of Tron in the second quarter valued at $79,000. Finally, Bank of America Corp DE increased its position in shares of Tron by 180.7% in the first quarter. Bank of America Corp DE now owns 118,068 shares of the company's stock valued at $268,000 after buying an additional 76,011 shares in the last quarter. 28.03% of the stock is owned by institutional investors and hedge funds.

Tron Company Profile

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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