Trinity Capital (NASDAQ:TRIN) Reaches New 12-Month High – What’s Next?

Trinity Capital Inc. (NASDAQ:TRIN)’s share price reached a new 52-week high on Thursday . The stock traded as high as $16.00 and last traded at $15.98, with a volume of 1144933 shares. The stock had previously closed at $15.48.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company reiterated an “underweight” rating and issued a $13.00 target price on shares of Trinity Capital in a research note on Monday, December 2nd.

Trinity Capital Stock Performance

The stock has a market capitalization of $941.38 million, a P/E ratio of 9.35 and a beta of 0.56. The stock’s 50-day simple moving average is $14.65 and its 200 day simple moving average is $14.25. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.05 and a quick ratio of 0.05.

Trinity Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 12.77%. The ex-dividend date of this dividend was Tuesday, December 31st. Trinity Capital’s payout ratio is 119.30%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TRIN. Millennium Management LLC increased its stake in shares of Trinity Capital by 527.8% during the second quarter. Millennium Management LLC now owns 252,587 shares of the company’s stock worth $3,572,000 after purchasing an additional 212,353 shares during the period. Cubist Systematic Strategies LLC acquired a new position in Trinity Capital in the 2nd quarter valued at $386,000. Cornerstone Wealth Management LLC increased its position in Trinity Capital by 9.5% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 22,798 shares of the company’s stock worth $309,000 after buying an additional 1,983 shares during the period. Blue Trust Inc. lifted its holdings in shares of Trinity Capital by 522.1% during the third quarter. Blue Trust Inc. now owns 7,714 shares of the company’s stock worth $109,000 after buying an additional 6,474 shares in the last quarter. Finally, Private Advisor Group LLC boosted its position in shares of Trinity Capital by 26.2% in the third quarter. Private Advisor Group LLC now owns 18,409 shares of the company’s stock valued at $250,000 after acquiring an additional 3,819 shares during the period. 24.62% of the stock is owned by institutional investors.

Trinity Capital Company Profile

Trinity Capital Inc is a business development company. It is a venture capital firm specializing in venture debt to growth stage companies looking for loans and/or equipment financing. Trinity Capital Inc was founded in 2019 is based in Phoenix, Arizona with additional offices in the United States.