Tron (NASDAQ:TRON) Shares Up 6.9% - What's Next?

Key Points

• Shares jumped 6.9%, trading as high as $2.07 and last at $2.0530 (up from $1.92) on Monday, but volume was sharply lower at 112,913 shares versus the average of 1,058,133.
• Analyst consensus is "Sell" — Weiss Ratings reaffirmed a "sell (d+)" and MarketBeat shows the company currently has a consensus Sell rating.
• Several hedge funds (including LPL, Geode, Renaissance, Marshall Wace and Millennium) initiated new stakes, leaving institutional ownership at 28.03%; the company has a market cap of $561.11M, a negative P/E (-10.23) and a high beta (8.80).

Tron Inc. (NASDAQ:TRON - Get Free Report) shares shot up 6.9% on Monday . The stock traded as high as $2.07 and last traded at $2.0530. 112,913 shares were traded during trading, a decline of 89% from the average session volume of 1,058,133 shares. The stock had previously closed at $1.92.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Tron in a research report on Friday, March 27th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of "Sell".

Tron Trading Up 6.5%

The firm has a 50-day simple moving average of $1.97 and a two-hundred day simple moving average of $1.87. The company has a market capitalization of $561.11 million, a price-to-earnings ratio of -10.23 and a beta of 8.80.

Institutional Investors Weigh In On Tron

Several hedge funds have recently modified their holdings of TRON. LPL Financial LLC purchased a new stake in shares of Tron during the 4th quarter worth about $1,018,000. Geode Capital Management LLC purchased a new stake in shares of Tron during the 4th quarter worth about $487,000. Renaissance Technologies LLC purchased a new stake in shares of Tron during the 4th quarter worth about $348,000. Marshall Wace LLP purchased a new stake in shares of Tron during the 4th quarter worth about $218,000. Finally, Millennium Management LLC purchased a new stake in shares of Tron during the 4th quarter worth about $164,000. 28.03% of the stock is owned by hedge funds and other institutional investors.

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.

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