Tron (NASDAQ:TRON) Releases Earnings Results

Tron (NASDAQ:TRON) released its earnings results on Friday. The company reported $0.03 earnings per share (EPS) for the quarter, FiscalAI reports. Tron had a negative return on equity of 5.60% and a net margin of 135.58%. The business had revenue of $1.19 million for the quarter.

Tron Price Performance

NASDAQ TRON traded up $0.06 on Friday, hitting $1.41. 397,076 shares of the company’s stock were exchanged, compared to its average volume of 964,606. The firm’s 50-day moving average price is $1.43 and its two-hundred day moving average price is $1.67. Tron has a fifty-two week low of $1.05 and a fifty-two week high of $2.95. The firm has a market cap of $668.88 million, a price-to-earnings ratio of -12.82 and a beta of 8.78.

Institutional Trading of Tron

Several hedge funds have recently modified their holdings of TRON. BlackRock Inc. acquired a new position in shares of Tron during the 2nd quarter worth $5,319,000. Bank of New York Mellon Corp purchased a new position in shares of Tron in the 2nd quarter valued at about $277,000. Bank of America Corp DE lifted its stake in shares of Tron by 180.7% in the first quarter. Bank of America Corp DE now owns 118,068 shares of the company’s stock valued at $268,000 after purchasing an additional 76,011 shares during the period. Deutsche Bank AG acquired a new stake in shares of Tron in the second quarter valued at about $79,000. Finally, State of Wyoming acquired a new stake in shares of Tron in the first quarter valued at about $78,000. 28.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on TRON shares. Wall Street Zen lowered shares of Tron from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Weiss Ratings upgraded shares of Tron from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Sell rating. According to MarketBeat, the company currently has an average rating of “Sell”.

About Tron

Tron, Inc (NASDAQ:TRON) is a digital asset treasury company focused on acquiring, holding and managing TRON (TRX), the native cryptocurrency of the TRON blockchain. The company’s strategy centers on providing public-market exposure to TRX while supporting activities related to the broader TRON ecosystem.

TRON is a blockchain platform designed to support decentralized applications, digital content distribution and cryptocurrency transactions. The network uses TRX for payments, governance and participation in its ecosystem, which includes developers, users and digital-content providers around the world.

Tron, Inc previously operated as SRM Entertainment, Inc, a company that developed and distributed consumer products and entertainment-related merchandise for theme parks and other venues.