Tron (NASDAQ:TRON) Shares Up 6.6% – Still a Buy?

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

Analysts Set New Price Targets

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

Tron Stock Up 6.6%

The stock has a market capitalization of $356.69 million, a price-to-earnings ratio of -32.49 and a beta of 13.83. The stock has a fifty day moving average of $1.50 and a 200-day moving average of $2.90.

Institutional Investors Weigh In On Tron

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Marshall Wace LLP acquired a new position in Tron in the fourth quarter valued at $218,000. State Street Corp acquired a new stake in shares of Tron in the 4th quarter valued at about $90,000. Renaissance Technologies LLC purchased a new position in Tron during the 4th quarter worth approximately $348,000. LPL Financial LLC purchased a new position in Tron during the 4th quarter worth approximately $1,018,000. Finally, Goldman Sachs Group Inc. acquired a new position in Tron during the fourth quarter worth approximately $116,000. 28.03% of the stock is currently 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.