Trinity Biotech PLC (NASDAQ:TRIB) Sees Significant Decrease in Short Interest

by · The Markets Daily

Trinity Biotech PLC (NASDAQ:TRIB – Get Free Report) was the target of a large decline in short interest during the month of June. As of June 15th, there was short interest totaling 144,829 shares, a decline of 39.6% from the May 31st total of 239,691 shares. Approximately 4.4% of the shares of the company are short sold. Based on an average trading volume of 145,980 shares, the days-to-cover ratio is presently 1.0 days.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded Trinity Biotech from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, May 8th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Trinity Biotech has a consensus rating of “Reduce”.

Get Our Latest Report on Trinity Biotech

Trinity Biotech Price Performance

NASDAQ TRIB traded down $0.05 on Wednesday, reaching $0.34. The stock had a trading volume of 619,055 shares, compared to its average volume of 760,692. The company has a market cap of $1.21 million and a P/E ratio of -0.19. The firm has a fifty day moving average of $0.60 and a two-hundred day moving average of $0.71. Trinity Biotech has a 1-year low of $0.31 and a 1-year high of $3.44.

Trinity Biotech (NASDAQ:TRIB – Get Free Report) last posted its earnings results on Tuesday, June 16th. The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.08. The firm had revenue of $10.85 million for the quarter, compared to analyst estimates of $10.68 million.

Institutional Trading of Trinity Biotech

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Yorkville Advisors Global LP acquired a new position in shares of Trinity Biotech during the 1st quarter worth approximately $122,000. Williams & Novak LLC raised its position in shares of Trinity Biotech by 677.5% in the fourth quarter. Williams & Novak LLC now owns 93,300 shares of the company’s stock valued at $74,000 after buying an additional 81,300 shares in the last quarter. Hunter Associates Investment Management LLC boosted its stake in shares of Trinity Biotech by 8.1% in the fourth quarter. Hunter Associates Investment Management LLC now owns 526,610 shares of the company’s stock valued at $417,000 after buying an additional 39,500 shares during the period. Citadel Advisors LLC grew its position in Trinity Biotech by 196.1% during the third quarter. Citadel Advisors LLC now owns 39,384 shares of the company’s stock worth $41,000 after buying an additional 26,084 shares in the last quarter. Finally, Perceptive Advisors LLC acquired a new stake in Trinity Biotech during the second quarter worth approximately $1,164,000. Institutional investors and hedge funds own 78.97% of the company’s stock.

Trinity Biotech Company Profile

(Get Free Report)

Trinity Biotech plc is a global diagnostic healthcare company headquartered in Bray, Ireland. The firm specializes in the development, manufacture and marketing of in vitro diagnostic products aimed at the detection and management of chronic and infectious diseases. Its offerings are designed to deliver timely and accurate results for a range of healthcare settings, from central laboratories to point‐of‐care environments.

The company’s product portfolio includes a comprehensive array of assays and instrumentation.

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