Trump Media & Technology Group (NASDAQ:DJT) Trading 10% Higher – Here’s Why

Trump Media & Technology Group Corp. (NASDAQ:DJT) shares traded up 10% during trading on Friday . The company traded as high as $32.00 and last traded at $30.47. 41,758,043 shares traded hands during trading, an increase of 173% from the average session volume of 15,280,396 shares. The stock had previously closed at $27.69.

Trump Media & Technology Group Price Performance

The company has a current ratio of 47.49, a quick ratio of 24.73 and a debt-to-equity ratio of 0.01. The firm’s 50-day simple moving average is $24.09 and its 200 day simple moving average is $31.95.

Trump Media & Technology Group (NASDAQ:DJT) last issued its earnings results on Friday, August 9th. The company reported ($0.10) earnings per share (EPS) for the quarter. The business had revenue of $0.84 million during the quarter.

Insider Buying and Selling

In other Trump Media & Technology Group news, General Counsel Scott Glabe sold 4,083 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $22.70, for a total value of $92,684.10. Following the completion of the sale, the general counsel now owns 15,917 shares of the company’s stock, valued at approximately $361,315.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Trump Media & Technology Group news, General Counsel Scott Glabe sold 4,083 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $22.70, for a total value of $92,684.10. Following the completion of the sale, the general counsel now directly owns 15,917 shares in the company, valued at $361,315.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Devin G. Nunes sold 27,846 shares of Trump Media & Technology Group stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $22.70, for a total value of $632,104.20. Following the transaction, the chief executive officer now owns 87,154 shares in the company, valued at $1,978,395.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 128,138 shares of company stock valued at $2,908,733 in the last 90 days. 14.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Trump Media & Technology Group

Large investors have recently made changes to their positions in the stock. Rakuten Securities Inc. bought a new stake in Trump Media & Technology Group in the 3rd quarter valued at $27,000. Moisand Fitzgerald Tamayo LLC bought a new stake in shares of Trump Media & Technology Group in the third quarter valued at about $34,000. Allworth Financial LP acquired a new position in shares of Trump Media & Technology Group during the third quarter worth about $48,000. Archer Investment Corp bought a new position in shares of Trump Media & Technology Group during the third quarter worth about $48,000. Finally, Huntington National Bank bought a new stake in Trump Media & Technology Group in the 3rd quarter valued at approximately $51,000. Institutional investors own 4.29% of the company’s stock.

About Trump Media & Technology Group

Trump Media & Technology Group Corp. develops a social media platform known as Truth Social that offers social networking services in the United States. The company was founded in 2021 and is based in Sarasota, Florida.