Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Trinity Capital (NASDAQ:TRIN) Stock

Trinity Capital (NASDAQ:TRIN) had its price target boosted by equities researchers at Keefe, Bruyette & Woods from $16.00 to $16.50 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target suggests a potential downside of 5.50% from the company’s previous close.

Separately, Wells Fargo & Company raised their target price on shares of Trinity Capital from $13.50 to $15.00 and gave the company an “underweight” rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.71.

Trinity Capital Trading Up 1.3%

TRIN traded up $0.22 during trading on Thursday, reaching $17.46. The stock had a trading volume of 233,130 shares, compared to its average volume of 1,204,799. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of 9.24 and a beta of 0.61. The stock’s 50 day moving average is $17.33 and its two-hundred day moving average is $16.29. Trinity Capital has a one year low of $14.13 and a one year high of $18.25.

Trinity Capital (NASDAQ:TRIN) last released its earnings results on Wednesday, May 6th. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. Trinity Capital had a net margin of 43.45% and a return on equity of 14.94%. The firm had revenue of $51.37 million for the quarter, compared to the consensus estimate of $85.87 million. On average, equities research analysts predict that Trinity Capital will post 2.1 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Marshall Wace LLP increased its holdings in Trinity Capital by 4,587.0% in the 3rd quarter. Marshall Wace LLP now owns 1,151,272 shares of the company’s stock worth $17,822,000 after buying an additional 1,126,709 shares in the last quarter. Eagle Point Credit Management LLC purchased a new position in shares of Trinity Capital during the fourth quarter valued at approximately $10,657,000. Two Sigma Investments LP lifted its position in Trinity Capital by 83.5% during the third quarter. Two Sigma Investments LP now owns 986,184 shares of the company’s stock valued at $15,266,000 after purchasing an additional 448,626 shares during the period. Closed End Fund Advisors Inc. purchased a new stake in Trinity Capital in the fourth quarter worth approximately $5,493,000. Finally, Price T Rowe Associates Inc. MD grew its position in Trinity Capital by 203.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 545,047 shares of the company’s stock worth $7,986,000 after purchasing an additional 365,193 shares during the period. 24.62% of the stock is owned by institutional investors.

About Trinity Capital

Trinity Capital Corporation (NASDAQ: TRIN) is a publicly traded business development company that provides flexible financing solutions to venture-backed and growth-stage companies. As a venture lender, Trinity Capital offers customized capital structures, including secured debt and equity co-investment, designed to support companies that have progressed beyond early-stage funding but still require non-dilutive growth capital.

The company focuses its investments on technology-driven sectors such as software, fintech, healthcare, life sciences and cleantech.