Tron (NASDAQ:TRON) Shares Up 11.6% – Here’s Why

Shares of Tron Inc. (NASDAQ:TRON) rose 11.6% during mid-day trading on Friday . The company traded as high as $1.5050 and last traded at $1.5180. Approximately 505,337 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 971,466 shares. The stock had previously closed at $1.36.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Tron from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 16th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

Tron Trading Up 11.4%

The stock has a market capitalization of $718.69 million, a price-to-earnings ratio of -13.77 and a beta of 8.31. The business has a 50 day simple moving average of $1.99 and a 200-day simple moving average of $1.77.

Tron (NASDAQ:TRON) last posted its quarterly earnings data on Friday, May 8th. The company reported $0.05 EPS for the quarter. The company had revenue of $1.18 million during the quarter. Tron had a net margin of 112.96% and a negative return on equity of 7.27%.

Hedge Funds Weigh In On Tron

Large investors have recently bought and sold shares of the stock. LPL Financial LLC purchased a new stake in shares of Tron during the 4th quarter valued at $1,018,000. Geode Capital Management LLC purchased a new position in shares of Tron in the 4th quarter worth $487,000. Renaissance Technologies LLC acquired a new position in Tron in the fourth quarter valued at $348,000. Marshall Wace LLP acquired a new position in Tron in the fourth quarter valued at $218,000. Finally, Millennium Management LLC acquired a new position in Tron in the fourth quarter valued at $164,000. 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.