Traders Purchase Large Volume of Call Options on Tron (NASDAQ:TRON)

Key Points

• Tron experienced a surge in options trading, with 9,658 call options traded, marking a 74% increase from the average volume.
• The company’s CEO and CFO have sold a significant number of shares, leading to a decrease in their ownership percentages by 14.29% and 27.83%, respectively.
• Tron’s stock price saw a notable increase of 20.5%, trading at $11.57 with a total volume surpassing its average.

Tron Inc. (NASDAQ:TRON - Get Free Report) was the recipient of unusually large options trading activity on Monday. Stock traders bought 9,658 call options on the company. This is an increase of approximately 74% compared to the average volume of 5,553 call options.

Insider Buying and Selling

In other news, CEO Richard A. Miller sold 100,000 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 600,000 shares of the company's stock, valued at approximately $6,714,000. This trade represents a 14.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Douglas O. Mckinnon sold 122,000 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $7.39, for a total transaction of $901,580.00. Following the completion of the sale, the chief financial officer directly owned 316,388 shares in the company, valued at approximately $2,338,107.32. This represents a 27.83% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 322,000 shares of company stock valued at $2,961,580. Corporate insiders own 14.80% of the company's stock.

Institutional Trading of Tron

A hedge fund recently bought a new stake in Tron stock. Two Sigma Securities LLC acquired a new stake in Tron Inc. (NASDAQ:TRON - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 41,187 shares of the company's stock, valued at approximately $26,000. Two Sigma Securities LLC owned 0.40% of Tron as of its most recent filing with the SEC. Hedge funds and other institutional investors own 28.03% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Tron to a "hold" rating in a research note on Saturday, June 21st.

Tron Stock Down 8.5%

Shares of NASDAQ:TRON traded down $0.92 on Tuesday, hitting $9.94. 1,444,417 shares of the company's stock were exchanged, compared to its average volume of 6,546,460. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.59 and a current ratio of 5.24. The firm's 50-day moving average is $9.71 and its 200 day moving average is $7.41. Tron has a 1-year low of $0.26 and a 1-year high of $12.80. The company has a market capitalization of $177.23 million, a PE ratio of -39.76 and a beta of 14.29.

Tron (NASDAQ:TRON - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.04) EPS for the quarter. Tron had a negative net margin of 74.56% and a negative return on equity of 78.96%. The company had revenue of $1.09 million during the quarter.

About Tron

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.