Tron (NASDAQ:TRON) Shares Down 8.5% – Here’s Why

Tron Inc. (NASDAQ:TRON)’s stock price fell 8.5% on Thursday. The company traded as low as $1.4150 and last traded at $1.4050. 347,130 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 972,525 shares. The stock had previously closed at $1.5350.

Analyst Ratings Changes

TRON has been the subject of a number of recent analyst reports. 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 downgraded Tron from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, Tron presently has a consensus rating of “Sell”.

Tron Price Performance

The firm has a fifty day simple moving average of $1.49 and a 200-day simple moving average of $1.67. The firm has a market cap of $604.84 million, a P/E ratio of -11.59 and a beta of 8.69.

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

Institutional Investors Weigh In On Tron

Institutional investors have recently added to or reduced their stakes in the company. CTC Alternative Strategies Ltd. purchased a new position in Tron during the 1st quarter valued at about $27,000. State of Wyoming purchased a new stake in shares of Tron in the 1st quarter worth approximately $78,000. Leonteq Securities AG purchased a new position in Tron in the first quarter worth about $91,000. Deutsche Bank AG purchased a new position in Tron in the 2nd quarter worth approximately $79,000. Finally, Bank of America Corp DE purchased a new stake in shares of Tron during the second quarter valued at $97,000. Hedge funds and other institutional investors own 28.03% of the company’s stock.

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.