Short Interest in Trinity Biotech PLC (NASDAQ:TRIB) Decreases By 45.9%

Trinity Biotech PLC (NASDAQ:TRIB) was the target of a large decline in short interest in August. As of August 14th, there was short interest totaling 9,275 shares, a decline of 45.9% from the July 30th total of 17,142 shares. Currently, 1.5% of the company’s stock are short sold. Based on an average daily volume of 28,628 shares, the short-interest ratio is currently 0.3 days.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Trinity Biotech from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 20th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Trinity Biotech presently has an average rating of “Sell”.

Trinity Biotech Stock Down 0.7%

NASDAQ TRIB opened at $9.68 on Friday. Trinity Biotech has a 52 week low of $7.94 and a 52 week high of $52.50. The stock has a market capitalization of $6.58 million and a PE ratio of -0.22. The firm has a 50 day moving average of $11.36 and a two-hundred day moving average of $17.07.

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

Institutional Trading of Trinity Biotech

Several large investors have recently added to or reduced their stakes in TRIB. Perceptive Advisors LLC acquired a new stake in Trinity Biotech during the second quarter worth $1,164,000. Yorkville Advisors Global LP bought a new position in shares of Trinity Biotech during the 1st quarter worth about $122,000. Williams & Novak LLC boosted its position in shares of Trinity Biotech by 677.5% during the 4th quarter. Williams & Novak LLC now owns 93,300 shares of the company’s stock valued at $74,000 after acquiring an additional 81,300 shares in the last quarter. Finally, Citadel Advisors LLC increased 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 acquiring an additional 26,084 shares during the period. 78.97% of the stock is currently owned by institutional investors and hedge funds.

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.