Trump Media & Technology Group (NASDAQ:DJT) Shares Down 6.8% - Time to Sell?

Key Points

• Trump Media & Technology Group shares fell 6.8% to about $5.93, with trading volume roughly 9% above its average.
• Analyst sentiment is strongly negative: Weiss Ratings downgraded the stock to “sell (e+),” Wall Street Zen lowered it to “strong sell,” and the consensus rating is “Sell.”
• The company has a $1.65 billion market capitalization and trades well below its 50-day and 200-day moving averages; institutional investors own only 4.29% of shares despite recent purchases by BlackRock and State Street.

Trump Media & Technology Group Corp. (NASDAQ:DJT - Get Free Report) shares were down 6.8% during trading on Wednesday. The company traded as low as $5.92 and last traded at $5.9250. Approximately 4,612,863 shares were traded during mid-day trading, an increase of 9% from the average daily volume of 4,240,400 shares. The stock had previously closed at $6.36.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. 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. Wall Street Zen downgraded Trump Media & Technology Group from a "sell" rating to a "strong sell" rating in a report on Saturday. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the stock presently has a consensus rating of "Sell".

Trump Media & Technology Group Stock Performance

The company has a market capitalization of $1.65 billion, a PE ratio of -1.21 and a beta of 4.07. The firm has a fifty day simple moving average of $8.44 and a 200 day simple moving average of $9.48.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DJT. BlackRock Inc. acquired a new position in shares of Trump Media & Technology Group during the 2nd quarter worth approximately $101,684,000. State Street Corp increased its position in 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 worth $32,444,000 after purchasing an additional 1,015,305 shares during the period. Yorkville Advisors Global LP acquired a new position in Trump Media & Technology Group during the second quarter worth about $17,618,903. Anson Funds Management LP acquired a new stake in Trump Media & Technology Group in the 1st quarter worth about $6,598,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Trump Media & Technology Group during the 2nd quarter worth about $4,047,000. Hedge funds and other institutional investors own 4.29% of the company's stock.

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.

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