Tron (NASDAQ:TRON) Stock Price Down 7.1% - Here's What Happened

Key Points

• Tron shares fell 7.1% to $1.435 during Tuesday trading, with about 618,000 shares changing hands—below the stock’s average daily volume.
• Analyst sentiment remains negative: Wall Street Zen downgraded the stock to “sell,” while Weiss Ratings only raised its rating from “sell (d-)” to “sell (d).” MarketBeat reports an overall “Sell” rating.
• Tron reported quarterly revenue of $1.57 million and earnings of $0.01 per share. Institutional investors own 28.03% of the company, including a new $5.3 million position from BlackRock.

Tron Inc. (NASDAQ:TRON - Get Free Report) shares fell 7.1% on Tuesday . The company traded as low as $1.44 and last traded at $1.4350. Approximately 617,936 shares traded hands during mid-day trading, a decline of 38% from the average daily volume of 990,089 shares. The stock had previously closed at $1.5450.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Tron from a "sell (d-)" rating to a "sell (d)" rating in a research note on Tuesday, August 11th. Wall Street Zen downgraded Tron from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Tron has an average rating of "Sell".

Tron Price Performance

The firm has a market capitalization of $671.25 million, a PE ratio of -12.87 and a beta of 8.56. The company's fifty day simple moving average is $1.59 and its 200 day simple moving average is $1.82.

Tron (NASDAQ:TRON - Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported $0.01 earnings per share 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 Investors Weigh In On Tron

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of Tron in the second quarter valued at $5,319,000. Bank of New York Mellon Corp purchased a new stake in Tron during the 2nd quarter worth about $277,000. Bank of America Corp DE boosted its stake in Tron by 180.7% in the 1st quarter. Bank of America Corp DE now owns 118,068 shares of the company's stock worth $268,000 after purchasing an additional 76,011 shares during the period. Deutsche Bank AG purchased a new position in Tron during the 2nd quarter valued at about $79,000. Finally, Leonteq Securities AG purchased a new position in Tron during the 1st quarter valued at about $91,000. 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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