Trump Media & Technology Group (NASDAQ:DJT) Trading Down 8.9% - Here's Why

Trump Media & Technology Group Corp. (NASDAQ:DJT - Get Free Report) shares dropped 8.9% during mid-day trading on Thursday . The stock traded as low as $20.80 and last traded at $19.94. Approximately 5,687,856 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 16,200,527 shares. The stock had previously closed at $21.88.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of Trump Media & Technology Group from a "hold" rating to a "sell" rating in a research report on Friday.

Trump Media & Technology Group Stock Performance

The company's 50-day moving average is $22.61 and its 200-day moving average is $27.57. The company has a debt-to-equity ratio of 0.01, a current ratio of 45.33 and a quick ratio of 47.49.

Trump Media & Technology Group (NASDAQ:DJT - Get Free Report) last released its earnings results on Friday, May 9th. The company reported ($0.14) earnings per share (EPS) for the quarter. Trump Media & Technology Group had a negative return on equity of 70.26% and a negative net margin of 11,076.68%. The company had revenue of $821.20 million during the quarter.

Insider Activity at Trump Media & Technology Group

In related news, Director Eric Swider sold 3,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $26.65, for a total value of $79,950.00. Following the transaction, the director now owns 25,989 shares in the company, valued at approximately $692,606.85. This trade represents a 10.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Phillip Juhan sold 21,059 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $20.50, for a total transaction of $431,709.50. Following the completion of the transaction, the chief financial officer now owns 220,577 shares in the company, valued at $4,521,828.50. The trade was a 8.72% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 209,365 shares of company stock worth $5,410,300. Company insiders own 53.00% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of DJT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Trump Media & Technology Group by 20.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 218,210 shares of the company's stock valued at $4,264,000 after purchasing an additional 37,367 shares during the period. Optimize Financial Inc raised its stake in shares of Trump Media & Technology Group by 17.7% during the first quarter. Optimize Financial Inc now owns 64,346 shares of the company's stock valued at $1,257,000 after purchasing an additional 9,670 shares during the period. NewEdge Advisors LLC raised its stake in shares of Trump Media & Technology Group by 31.9% during the first quarter. NewEdge Advisors LLC now owns 4,957 shares of the company's stock valued at $97,000 after purchasing an additional 1,200 shares during the period. AQR Capital Management LLC purchased a new stake in shares of Trump Media & Technology Group during the first quarter valued at approximately $940,000. Finally, MAI Capital Management raised its stake in shares of Trump Media & Technology Group by 21.3% during the first quarter. MAI Capital Management now owns 14,841 shares of the company's stock valued at $290,000 after purchasing an additional 2,608 shares during the period. Hedge funds and other institutional investors own 4.29% of the company's stock.

About Trump Media & Technology Group

Trump Media & Technology Group Corp. engages in operating social media and in the technology business. Its brands include TRUTH Social, TMTG+ and TMTG News. The company was founded on March 28, 2024 and is headquartered in Sarasota, FL.