Trinity Biotech plc (NASDAQ:TRIB) Short Interest Up 1,232.5% in August

Trinity Biotech plc (NASDAQ:TRIB) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 213,200 shares, a growth of 1,232.5% from the August 15th total of 16,000 shares. Currently, 1.8% of the shares of the company are sold short. Based on an average daily trading volume, of 1,250,000 shares, the days-to-cover ratio is currently 0.2 days.

Trinity Biotech Trading Down 1.8 %

NASDAQ:TRIB traded down $0.03 during trading hours on Friday, hitting $1.60. 129,885 shares of the company traded hands, compared to its average volume of 500,548. The stock has a market capitalization of $12.19 million, a price-to-earnings ratio of -0.57 and a beta of 1.22. Trinity Biotech has a twelve month low of $1.49 and a twelve month high of $4.18. The firm has a 50-day moving average of $2.47 and a 200 day moving average of $2.17.

Trinity Biotech (NASDAQ:TRIB) last released its earnings results on Wednesday, August 14th. The company reported ($0.55) EPS for the quarter, beating the consensus estimate of ($0.65) by $0.10. The company had revenue of $15.84 million for the quarter, compared to analyst estimates of $15.75 million. Equities research analysts predict that Trinity Biotech will post -1.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of Trinity Biotech in a research note on Friday, August 30th. They set a “buy” rating for the company.

About Trinity Biotech

Trinity Biotech plc acquires, together with its subsidiaries, develops, acquires, manufactures, and markets medical diagnostic products for the clinical laboratory and point-of-care (POC) segments of the diagnostic market in the Americas and Ireland. The company offers clinical laboratory products, including diagnostic tests and instrumentation, which detects infectious diseases; sexually transmitted diseases consisting of 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.