Short Interest in Trinity Biotech PLC (NASDAQ:TRIB) Drops By 42.1%

Trinity Biotech PLC (NASDAQ:TRIB) was the recipient of a large drop in short interest during the month of April. As of April 30th, there was short interest totaling 233,333 shares, a drop of 42.1% from the April 15th total of 402,865 shares. Approximately 7.1% of the company’s shares are sold short. Based on an average trading volume of 66,902 shares, the days-to-cover ratio is currently 3.5 days.

Institutional Investors Weigh In On Trinity Biotech

A number of hedge funds have recently made changes to their positions in TRIB. Citadel Advisors LLC grew its stake in Trinity Biotech by 196.1% in the third quarter. Citadel Advisors LLC now owns 39,384 shares of the company’s stock valued at $41,000 after purchasing an additional 26,084 shares during the last quarter. Hunter Associates Investment Management LLC boosted its holdings in Trinity Biotech by 8.1% in the fourth quarter. Hunter Associates Investment Management LLC now owns 526,610 shares of the company’s stock worth $417,000 after acquiring an additional 39,500 shares in the last quarter. Williams & Novak LLC boosted its holdings in Trinity Biotech by 677.5% in the fourth quarter. Williams & Novak LLC now owns 93,300 shares of the company’s stock worth $74,000 after acquiring an additional 81,300 shares in the last quarter. Yorkville Advisors Global LP acquired a new position in Trinity Biotech during the 1st quarter valued at approximately $122,000. Finally, Perceptive Advisors LLC purchased a new position in shares of Trinity Biotech in the second quarter worth $1,164,000. 78.97% of the stock is currently owned by hedge funds and other institutional investors.

Trinity Biotech Stock Down 1.6%

NASDAQ:TRIB traded down $0.01 during midday trading on Friday, hitting $0.57. The stock had a trading volume of 21,098 shares. Trinity Biotech has a one year low of $0.50 and a one year high of $3.44. The stock has a 50-day moving average of $0.65 and a 200 day moving average of $0.79.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded Trinity Biotech from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, May 8th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce”.

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.