Trump Media & Technology Group (NASDAQ:DJT) Sets New 12-Month Low - Here's What Happened

Key Points

• Trump Media & Technology Group shares hit a new 52-week low, falling to $5.72 during Thursday trading and last changing hands at about $5.93, down 2.6% from the prior close.
• Analyst sentiment remains negative: Weiss Ratings downgraded the stock and Wall Street Zen moved it to “strong sell,” while MarketBeat reports an overall average rating of “Sell.”
• Despite recent purchases by BlackRock, State Street and other investors, hedge funds and institutions collectively own only 4.29% of DJT; the company operates Truth Social and Truth+, and plans to develop the Truth.Fi financial-services platform.

Shares of Trump Media & Technology Group Corp. (NASDAQ:DJT - Get Free Report) hit a new 52-week low during mid-day trading on Thursday. The company traded as low as $5.72 and last traded at $5.9340, with a volume of 889,400 shares traded. The stock had previously closed at $5.97.

Analyst Ratings Changes

DJT has been the topic of several recent analyst reports. Weiss Ratings cut shares of Trump Media & Technology Group from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, September 2nd. Wall Street Zen downgraded Trump Media & Technology Group from a "sell" rating to a "strong sell" rating in a research note on Saturday, October 24th. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, Trump Media & Technology Group presently has an average rating of "Sell".

Trump Media & Technology Group Stock Down 2.6%

The firm has a market cap of $1.62 billion, a PE ratio of -1.18 and a beta of 4.07. The company has a 50-day simple moving average of $8.40 and a two-hundred day simple moving average of $9.44.

Hedge Funds Weigh In On Trump Media & Technology Group

A number of hedge funds and other institutional investors have recently made changes to their positions in DJT. Yorkville Advisors Global LP bought a new position in Trump Media & Technology Group during the second quarter worth about $17,618,903. Quantinno Capital Management LP lifted its position in shares of Trump Media & Technology Group by 120.3% during the first quarter. Quantinno Capital Management LP now owns 219,265 shares of the company's stock worth $2,035,000 after acquiring an additional 119,750 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Trump Media & Technology Group during the second quarter worth $101,684,000. State Street Corp boosted its holdings in shares of Trump Media & Technology Group by 32.0% in the second quarter. State Street Corp now owns 4,191,672 shares of the company's stock worth $32,444,000 after acquiring an additional 1,015,305 shares during the period. Finally, Anson Funds Management LP purchased a new position in shares of Trump Media & Technology Group in the first quarter valued at $6,598,000. 4.29% of the stock is owned by hedge funds and other institutional investors.

Trump Media & Technology Group Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.