Trump Media & Technology Group (NASDAQ:DJT) Stock Price Up 8.4% – Here’s Why

Shares of Trump Media & Technology Group Corp. (NASDAQ:DJT) rose 8.4% during trading on Thursday . The stock traded as high as $8.55 and last traded at $8.6940. Approximately 819,398 shares traded hands during trading, a decline of 81% from the average daily volume of 4,302,859 shares. The stock had previously closed at $8.02.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Trump Media & Technology Group in a report on Monday, May 4th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

Trump Media & Technology Group Trading Up 5.9%

The stock has a fifty day moving average of $8.52 and a 200-day moving average of $10.44. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of -2.06 and a beta of 4.10.

Hedge Funds Weigh In On Trump Media & Technology Group

Institutional investors have recently bought and sold shares of the stock. Captrust Financial Advisors lifted its stake in Trump Media & Technology Group by 9.5% during the second quarter. Captrust Financial Advisors now owns 11,149 shares of the company’s stock valued at $201,000 after buying an additional 963 shares in the last quarter. Rakuten Securities Inc. increased its position in shares of Trump Media & Technology Group by 40.7% in the second quarter. Rakuten Securities Inc. now owns 3,466 shares of the company’s stock worth $63,000 after acquiring an additional 1,002 shares in the last quarter. RIA Advisory Group LLC increased its position in shares of Trump Media & Technology Group by 7.4% in the fourth quarter. RIA Advisory Group LLC now owns 15,163 shares of the company’s stock worth $201,000 after acquiring an additional 1,050 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of Trump Media & Technology Group by 21.9% during the fourth quarter. IFP Advisors Inc now owns 6,157 shares of the company’s stock valued at $82,000 after acquiring an additional 1,105 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Trump Media & Technology Group by 8.5% during the third quarter. Envestnet Asset Management Inc. now owns 14,242 shares of the company’s stock valued at $234,000 after acquiring an additional 1,115 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 (NASDAQ: DJT) is a U.S.-based digital media and technology company focused on social networking and content distribution. The firm’s flagship offering, Truth Social, is designed as an alternative social media platform with features for user-generated posts, direct messaging and community engagement. In addition to its core social network, TMTG has signaled plans for a subscription-based streaming service and other digital content ventures under the TMTG+ brand, aiming to expand its multimedia footprint.

Founded in October 2021 by former President Donald J.