Tron (NASDAQ:TRON) Shares Up 8.1% – Time to Buy?

Tron Inc. (NASDAQ:TRON)’s stock price traded up 8.1% during mid-day trading on Thursday . The company traded as high as $1.67 and last traded at $1.6750. 446,566 shares were traded during trading, a decline of 55% from the average daily volume of 994,166 shares. The stock had previously closed at $1.55.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on TRON shares. Weiss Ratings raised Tron from a “sell (d-)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. Wall Street Zen cut Tron from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Tron Trading Up 5.5%

The firm has a market cap of $775.61 million, a PE ratio of -14.86 and a beta of 8.56. The firm has a fifty day simple moving average of $1.59 and a two-hundred day simple moving average of $1.80.

Tron (NASDAQ:TRON) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.01 EPS for the quarter. The company had revenue of $1.57 million during the quarter. Tron had a negative return on equity of 5.60% and a net margin of 135.58%.

Hedge Funds Weigh In On Tron

Several hedge funds and other institutional investors have recently modified their holdings of TRON. Geode Capital Management LLC purchased a new stake in Tron in the fourth quarter worth about $487,000. Goldman Sachs Group Inc. bought a new position in shares of Tron in the 4th quarter worth approximately $116,000. LPL Financial LLC purchased a new position in shares of Tron in the 4th quarter valued at approximately $1,018,000. Renaissance Technologies LLC purchased a new position in shares of Tron in the 4th quarter valued at approximately $348,000. Finally, State Street Corp bought a new stake in shares of Tron during the fourth quarter valued at approximately $90,000. Hedge funds and other institutional investors own 28.03% of the company’s stock.

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.