Short Interest in Trinity Biotech PLC (NASDAQ:TRIB) Declines By 95.3%

Trinity Biotech PLC (NASDAQ:TRIB) was the recipient of a large decline in short interest in July. As of July 31st, there was short interest totaling 17,142 shares, a decline of 95.3% from the July 15th total of 364,403 shares. Currently, 2.8% of the company’s stock are short sold. Based on an average trading volume of 31,182 shares, the short-interest ratio is presently 0.5 days.

Trinity Biotech Stock Performance

TRIB traded up $0.18 during trading on Tuesday, hitting $13.38. The stock had a trading volume of 55,379 shares, compared to its average volume of 31,155. The stock has a 50 day simple moving average of $13.69 and a two-hundred day simple moving average of $18.34. Trinity Biotech has a twelve month low of $7.94 and a twelve month high of $103.20. The company has a market capitalization of $9.10 million and a PE ratio of -0.30.

Trinity Biotech (NASDAQ:TRIB) last issued its quarterly earnings results on Tuesday, June 16th. The company reported ($6.90) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($9.30) by $2.40. The business had revenue of $10.85 million for the quarter, compared to analyst estimates of $10.68 million.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Citadel Advisors LLC increased its position in Trinity Biotech by 196.1% during the 3rd quarter. Citadel Advisors LLC now owns 39,384 shares of the company’s stock valued at $41,000 after buying an additional 26,084 shares in the last quarter. Williams & Novak LLC raised its stake in Trinity Biotech by 677.5% in the fourth quarter. Williams & Novak LLC now owns 93,300 shares of the company’s stock valued at $74,000 after buying an additional 81,300 shares during the last quarter. Yorkville Advisors Global LP acquired a new stake in Trinity Biotech in the first quarter worth about $122,000. Finally, Perceptive Advisors LLC acquired a new stake in Trinity Biotech in the second quarter worth about $1,164,000. 78.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Trinity Biotech in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Trinity Biotech presently has a consensus rating of “Sell”.

Trinity Biotech Company Profile

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.