Trump Media & Technology Group (NASDAQ:DJT) Sets New 52-Week Low - Here's What Happened

Key Points

• Trump Media & Technology Group shares fell 6.1%, reaching a new 52-week low of $6.93 and closing near $6.925, compared with a previous close of $7.40.
• Analyst sentiment remains negative: the stock has a consensus rating of “Sell”, with recent ratings changes from “strong sell” to “sell” and from “sell (d-)” to “sell (e+).”
• Institutional investors made notable purchases, including BlackRock’s approximately $101.7 million position and State Street’s 32% stake increase, though institutions and hedge funds collectively own only 4.29% of the company.

Trump Media & Technology Group Corp. (NASDAQ:DJT - Get Free Report)'s share price hit a new 52-week low on Friday. The stock traded as low as $6.93 and last traded at $6.9250, with a volume of 3,178,953 shares trading hands. The stock had previously closed at $7.40.

Analysts Set New Price Targets

Several research analysts recently weighed in on DJT shares. Wall Street Zen raised Trump Media & Technology Group from a "strong sell" rating to a "sell" rating in a research note on Saturday, October 10th. Weiss Ratings downgraded shares of Trump Media & Technology Group from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, September 2nd. One research analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company currently has a consensus rating of "Sell".

Trump Media & Technology Group Trading Down 6.1%

The stock has a market cap of $1.93 billion, a price-to-earnings ratio of -1.42 and a beta of 4.07. The company has a fifty day simple moving average of $8.81 and a 200-day simple moving average of $8.88.

Institutional Inflows and Outflows

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

Trump Media & Technology Group Company Profile

Trump Media & Technology Group Corp. is a technology and media company that develops social media, streaming and financial-services products. Its primary platform is Truth Social, a social networking service designed to support user-generated content, discussion and content sharing.

The company also operates Truth+, a streaming platform offering video content, including news, entertainment and other programming. In addition, TMTG has introduced Truth.Fi, a financial-services and fintech initiative intended to provide products such as investment accounts and exchange-traded funds through third-party partners.

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