Trump Media & Technology Group (NASDAQ:DJT) Sets New 1-Year Low - Here's What Happened

Key Points

• Trump Media shares hit a new 52-week low, falling to $5.28 and last trading at $5.383, versus the previous close of $5.95.
• Analyst sentiment is negative: Wall Street Zen downgraded the stock to “strong sell,” Weiss Ratings lowered its rating, and MarketBeat reports a consensus “Sell” rating.
• Some institutions added or initiated positions, including BlackRock and Yorkville Advisors; hedge funds and institutional investors own 4.29% of the company’s shares.

Trump Media & Technology Group Corp. (NASDAQ:DJT - Get Free Report)'s share price reached a new 52-week low during trading on Wednesday. The stock traded as low as $5.28 and last traded at $5.3830, with a volume of 977,353 shares changing hands. The stock had previously closed at $5.95.

Analyst Ratings Changes

DJT has been the topic of several research reports. Wall Street Zen lowered Trump Media & Technology Group from a "sell" rating to a "strong sell" rating in a research report on Sunday. Weiss Ratings cut shares of Trump Media & Technology Group from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, September 2nd. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat, the company has a consensus rating of "Sell".

Trump Media & Technology Group Stock Performance

The stock has a 50 day moving average price of $8.15 and a 200 day moving average price of $9.27. The company has a market cap of $1.48 billion, a P/E ratio of -1.09 and a beta of 1.35.

Hedge Funds Weigh In On Trump Media & Technology Group

Several hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in Trump Media & Technology Group during the 2nd quarter worth approximately $101,684,000. Yorkville Advisors Global LP acquired a new stake in shares of Trump Media & Technology Group during the 2nd quarter valued at $17,618,903. State Street Corp grew its holdings in shares of Trump Media & Technology Group by 32.0% during the 2nd quarter. State Street Corp now owns 4,191,672 shares of the company's stock valued at $32,444,000 after acquiring an additional 1,015,305 shares in the last quarter. Anson Funds Management LP purchased a new position in shares of Trump Media & Technology Group during the 1st quarter valued at $6,598,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Trump Media & Technology Group in the second quarter worth $4,047,000. Institutional investors and hedge funds own 4.29% of the company's stock.

About Trump Media & Technology Group

Trump Media & Technology Group Corp. is a media and technology company focused on developing social media, streaming and other digital services. Its principal platform is Truth Social, a social networking service that enables users to create posts, follow accounts and participate in online discussions.

The company also operates Truth+, a streaming platform offering video content, including news and entertainment programming. TMTG has additionally announced plans to develop Truth.Fi, a financial services and technology initiative intended to include products such as separately managed accounts, exchange-traded funds and other investment-related offerings.

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