Trump Media & Technology Group (NASDAQ:DJT) Shares Gap Up – Here’s Why

Trump Media & Technology Group Corp. (NASDAQ:DJT)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $30.04, but opened at $33.61. Trump Media & Technology Group shares last traded at $33.13, with a volume of 12,737,459 shares trading hands.

Trump Media & Technology Group Stock Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 47.49 and a quick ratio of 47.49. The company’s 50-day moving average price is $34.87 and its two-hundred day moving average price is $29.00.

Trump Media & Technology Group (NASDAQ:DJT) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($0.10) earnings per share for the quarter. The company had revenue of $1.01 million during the quarter.

Insiders Place Their Bets

In other news, Director Eric Swider sold 136,183 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $28.23, for a total transaction of $3,844,446.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Scott Glabe sold 15,917 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $32.19, for a total transaction of $512,368.23. Following the transaction, the general counsel now owns 336,576 shares of the company’s stock, valued at approximately $10,834,381.44. This represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 536,100 shares of company stock worth $16,274,894 in the last quarter. Corporate insiders own 14.80% of the company’s stock.

Institutional Investors Weigh In On Trump Media & Technology Group

Hedge funds have recently made changes to their positions in the stock. Tsfg LLC bought a new position in Trump Media & Technology Group in the 4th quarter valued at approximately $31,000. Wilmington Savings Fund Society FSB acquired a new position in Trump Media & Technology Group in the 4th quarter valued at approximately $34,000. Independence Bank of Kentucky raised its stake in shares of Trump Media & Technology Group by 245.8% during the fourth quarter. Independence Bank of Kentucky now owns 1,383 shares of the company’s stock valued at $47,000 after acquiring an additional 983 shares during the last quarter. Rakuten Securities Inc. acquired a new stake in Trump Media & Technology Group during the third quarter worth approximately $27,000. Finally, Geneos Wealth Management Inc. acquired a new position in Trump Media & Technology Group in the fourth quarter valued at approximately $57,000. 4.29% of the stock is currently owned by institutional investors and hedge funds.

Trump Media & Technology Group Company Profile

Trump Media & Technology Group Corp. operates as a social media and technology company. Its brands include TRUTH Social, TMTG+ and TMTG News. The company is headquartered in Sarasota, FL.