Trinity Biotech PLC (NASDAQ:TRIB) Short Interest Update

Trinity Biotech PLC (NASDAQ:TRIB) was the recipient of a significant decline in short interest during the month of July. As of July 15th, there was short interest totaling 364,403 shares, a decline of 74.3% from the June 30th total of 1,417,438 shares. Currently, 11.1% of the shares of the stock are short sold. Based on an average daily volume of 497,743 shares, the days-to-cover ratio is currently 0.7 days.

Hedge Funds Weigh In On Trinity Biotech

Several institutional investors and hedge funds have recently modified their holdings of the company. Citadel Advisors LLC grew its stake in Trinity Biotech by 196.1% in the 3rd quarter. Citadel Advisors LLC now owns 39,384 shares of the company’s stock worth $41,000 after acquiring an additional 26,084 shares during the period. Williams & Novak LLC boosted its holdings in shares of Trinity Biotech by 677.5% during the fourth quarter. Williams & Novak LLC now owns 93,300 shares of the company’s stock worth $74,000 after purchasing an additional 81,300 shares during the last quarter. Yorkville Advisors Global LP acquired a new stake in shares of Trinity Biotech during the first quarter worth $122,000. Hunter Associates Investment Management LLC grew its position 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 purchasing an additional 39,500 shares during the period. Finally, Perceptive Advisors LLC purchased a new stake in shares of Trinity Biotech in the second quarter valued at $1,164,000. Hedge funds and other institutional investors own 78.97% of the company’s stock.

Analysts Set New Price Targets

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

Trinity Biotech Price Performance

Trinity Biotech stock traded up $0.56 during mid-day trading on Monday, hitting $9.01. 12,767 shares of the company were exchanged, compared to its average volume of 24,231. Trinity Biotech has a 12-month low of $7.94 and a 12-month high of $103.20. The company has a market capitalization of $1.08 million and a P/E ratio of -0.17. The business’s 50 day simple moving average is $15.40 and its two-hundred day simple moving average is $19.13.

Trinity Biotech (NASDAQ:TRIB) last announced its earnings results on Tuesday, June 16th. The company reported ($6.90) earnings per share for the quarter, beating the consensus estimate of ($9.30) by $2.40. The firm had revenue of $10.85 million during the quarter, compared to analyst estimates of $10.68 million.

About Trinity Biotech

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.