Tron (NASDAQ:TRON) Shares Up 6.6% – Here’s Why

Tron Inc. (NASDAQ:TRON)’s stock price shot up 6.6% during trading on Friday . The company traded as high as $1.36 and last traded at $1.30. 450,508 shares changed hands during trading, a decline of 25% from the average session volume of 601,857 shares. The stock had previously closed at $1.22.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Tron in a research report on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Tron Stock Performance

The company has a market capitalization of $356.69 million, a price-to-earnings ratio of -32.49 and a beta of 13.83. The business’s 50 day moving average is $1.50 and its 200 day moving average is $2.90.

Hedge Funds Weigh In On Tron

Hedge funds have recently made changes to their positions in the company. State Street Corp acquired a new stake in Tron during the 4th quarter worth about $90,000. Goldman Sachs Group Inc. purchased a new position in shares of Tron in the fourth quarter valued at approximately $116,000. Marshall Wace LLP purchased a new stake in shares of Tron during the fourth quarter worth $218,000. Renaissance Technologies LLC purchased a new stake in Tron during the 4th quarter valued at about $348,000. Finally, Geode Capital Management LLC acquired a new stake in shares of Tron in the fourth quarter valued at approximately $487,000. 28.03% of the stock is owned by institutional investors and hedge funds.

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.