Stock Traders Buy Large Volume of Call Options on Trump Media & Technology Group (NASDAQ:DJT)

Trump Media & Technology Group Corp. (NASDAQ:DJT) was the recipient of some unusual options trading activity on Monday. Stock traders purchased 23,209 call options on the company. This represents an increase of 16% compared to the typical daily volume of 20,074 call options.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DJT. Wall Street Zen lowered Trump Media & Technology Group to a “strong sell” rating in a report on Saturday, September 5th. Weiss Ratings downgraded Trump Media & Technology Group from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, September 2nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Trump Media & Technology Group Price Performance

Shares of DJT stock traded up $0.35 during mid-day trading on Monday, hitting $9.21. 2,973,835 shares of the stock traded hands, compared to its average volume of 4,278,368. Trump Media & Technology Group has a 52-week low of $6.96 and a 52-week high of $17.97. The stock has a market cap of $2.56 billion, a P/E ratio of -1.88 and a beta of 4.05. The stock’s fifty day moving average is $9.20 and its two-hundred day moving average is $9.02.

Institutional Trading of Trump Media & Technology Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company increased its position in Trump Media & Technology Group by 107.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 73,679 shares of the company’s stock valued at $570,000 after buying an additional 38,193 shares in the last quarter. Engineers Gate Manager LP boosted its holdings in Trump Media & Technology Group by 33.4% in the second quarter. Engineers Gate Manager LP now owns 30,692 shares of the company’s stock worth $238,000 after acquiring an additional 7,683 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of Trump Media & Technology Group during the second quarter worth about $60,000. NewEdge Advisors LLC grew its stake in shares of Trump Media & Technology Group by 68.8% during the second quarter. NewEdge Advisors LLC now owns 23,573 shares of the company’s stock worth $182,000 after acquiring an additional 9,607 shares during the last quarter. Finally, IFP Advisors Inc increased its holdings in shares of Trump Media & Technology Group by 53.0% during the second quarter. IFP Advisors Inc now owns 9,297 shares of the company’s stock valued at $72,000 after acquiring an additional 3,221 shares in the last quarter. Hedge funds and other institutional investors own 4.29% of the company’s stock.

Trump Media & Technology Group Company Profile

Trump Media & Technology Group Corp. is a technology and media company focused on developing digital platforms and services intended to support free expression and alternative media. The company is best known for Truth Social, a social-media platform that enables users to create profiles, publish posts, follow other users and engage with content.

Through its TMTG+ business, the company has also pursued streaming media offerings, including video-on-demand and live-streaming content.