StockNews.com Begins Coverage on Trinity Biotech (NASDAQ:TRIB)

StockNews.com initiated coverage on shares of Trinity Biotech (NASDAQ:TRIB) in a report released on Tuesday morning. The firm issued a buy rating on the stock.

Trinity Biotech Stock Down 2.2 %

Shares of NASDAQ TRIB opened at $1.80 on Tuesday. Trinity Biotech has a 52 week low of $1.79 and a 52 week high of $6.20. The firm has a 50-day moving average price of $2.11 and a 200 day moving average price of $2.29. The stock has a market capitalization of $13.72 million, a price-to-earnings ratio of -0.57 and a beta of 1.21.

Trinity Biotech (NASDAQ:TRIB) last announced its earnings results on Wednesday, January 31st. The company reported ($0.90) earnings per share (EPS) for the quarter. The business had revenue of $14.68 million for the quarter. Equities research analysts expect that Trinity Biotech will post -1.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Trinity Biotech

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Atria Wealth Solutions Inc. raised its position in Trinity Biotech by 38.9% during the fourth quarter. Atria Wealth Solutions Inc. now owns 34,300 shares of the company’s stock worth $34,000 after acquiring an additional 9,600 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Trinity Biotech by 2.4% in the second quarter. Renaissance Technologies LLC now owns 1,503,336 shares of the company’s stock valued at $1,842,000 after buying an additional 34,900 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Trinity Biotech in the first quarter valued at approximately $40,000. Finally, Whitefort Capital Management LP raised its position in shares of Trinity Biotech by 1,067.8% in the first quarter. Whitefort Capital Management LP now owns 409,517 shares of the company’s stock valued at $434,000 after buying an additional 374,449 shares during the last quarter. Institutional investors and hedge funds own 78.97% of the company’s stock.

About Trinity Biotech

Trinity Biotech plc acquires, together with its subsidiaries, develops, manufactures, and markets medical diagnostic products for the clinical laboratory and point-of-care (POC) segments of the diagnostic market in the Americas, Africa, Asia, and Europe. The company offers clinical laboratory products, including diagnostic tests and instrumentation, which detect infectious diseases, such as lyme disease; sexually transmitted diseases consisting syphilis and herpes; SARS-CoV-2; and epstein barr, measles, mumps, toxoplasmosis, cytomegalovirus, rubella, varicella and other viral pathogens, as well as products for the in-vitro diagnostic testing for haemoglobin A1c used in the monitoring and diagnosis of diabetes, and identifying those who are at a risk of developing diabetes.