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

Tron Inc. (NASDAQ:TRON) shares gapped down before the market opened on Friday . The stock had previously closed at $2.20, but opened at $2.10. Tron shares last traded at $2.1290, with a volume of 535,524 shares trading hands.

Wall Street Analyst Weigh In

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

Tron Price Performance

The firm has a market cap of $595.40 million, a P/E ratio of -10.85 and a beta of 13.84. The firm’s 50 day moving average is $1.53 and its 200 day moving average is $1.99.

Tron (NASDAQ:TRON) last announced its earnings results on Wednesday, March 25th. The company reported ($0.21) earnings per share for the quarter. Tron had a negative net margin of 354.61% and a negative return on equity of 26.14%. The business had revenue of $1.20 million for the quarter.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new position in Tron during the fourth quarter valued at $52,000. Squarepoint Ops LLC purchased a new stake in shares of Tron in the fourth quarter worth $80,000. Engineers Gate Manager LP purchased a new stake in shares of Tron in the fourth quarter worth $84,000. State Street Corp bought a new position in shares of Tron during the fourth quarter valued at $90,000. Finally, Goldman Sachs Group Inc. bought a new position in shares of Tron during the fourth quarter valued at $116,000. 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.