Tron (NASDAQ:TRON) Announces Quarterly Earnings Results

Key Points

• Tron reported quarterly earnings of $0.01 per share, with a negative return on equity of 78.96% and a negative net margin of 74.56%.
• Following insider sales, CFO Douglas O. Mckinnon and VP Deborah Lynn Mcdaniel-Hand reduced their ownership of the stock by 27.83% and 50.00%, respectively, with total insider sales amounting to $2.96 million in the past ninety days.
• Wall Street Zen upgraded Tron to a "hold" rating, indicating a shift in analyst sentiment towards the company's stock.

Tron (NASDAQ:TRON - Get Free Report) announced its earnings results on Friday. The company reported $0.01 earnings per share (EPS) for the quarter, Zacks reports. Tron had a negative net margin of 30.45% and a negative return on equity of 4.12%. The business had revenue of $1.34 million during the quarter.

Tron Price Performance

NASDAQ TRON traded up $0.31 during trading hours on Wednesday, reaching $7.46. 2,455,901 shares of the stock traded hands, compared to its average volume of 6,267,160. The stock has a 50 day simple moving average of $9.16 and a two-hundred day simple moving average of $7.57. Tron has a 1 year low of $0.26 and a 1 year high of $12.80. The company has a market cap of $133.01 million, a price-to-earnings ratio of -39.26 and a beta of 14.20.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Tron to a "hold" rating in a research report on Saturday, June 21st.

Insider Transactions at Tron

In related news, CFO Douglas O. Mckinnon sold 122,000 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $7.39, for a total value of $901,580.00. Following the completion of the sale, the chief financial officer owned 316,388 shares in the company, valued at $2,338,107.32. The trade was a 27.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Richard A. Miller sold 100,000 shares of the stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $11.19, for a total transaction of $1,119,000.00. Following the transaction, the chief executive officer owned 600,000 shares in the company, valued at $6,714,000. The trade was a 14.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 322,000 shares of company stock worth $2,961,580. 14.80% of the stock is currently owned by corporate insiders.

Tron Company Profile

SRM Entertainment, Inc designs, manufactures, and sells toys and souvenirs to theme parks. It sells its products through amusement parks, entertainment venues, and theme hotels in the United States, China, Japan, and internationally. The company was incorporated in 2022 and is based in Jupiter, Florida.