Wells Fargo & Company Raises Trinity Capital (NASDAQ:TRIN) Price Target to $14.00

Trinity Capital (NASDAQ:TRIN) had its price objective raised by stock analysts at Wells Fargo & Company from $13.00 to $14.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential downside of 15.02% from the stock’s current price.

Separately, Keefe, Bruyette & Woods raised their price target on shares of Trinity Capital from $15.00 to $16.00 and gave the stock a “market perform” rating in a research note on Thursday.

Trinity Capital Stock Performance

Shares of Trinity Capital stock traded up $0.26 on Friday, reaching $16.48. 283,703 shares of the stock were exchanged, compared to its average volume of 549,700. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $970.48 million, a PE ratio of 9.63 and a beta of 0.56. Trinity Capital has a 1-year low of $13.05 and a 1-year high of $16.82. The business has a fifty day moving average price of $15.15 and a two-hundred day moving average price of $14.42.

Trinity Capital (NASDAQ:TRIN) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.53 by $0.03. Trinity Capital had a return on equity of 15.90% and a net margin of 40.73%. The business had revenue of $70.83 million during the quarter, compared to analysts’ expectations of $64.13 million. As a group, research analysts anticipate that Trinity Capital will post 2.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Trinity Capital

Hedge funds and other institutional investors have recently modified their holdings of the company. Kennedy Capital Management LLC raised its holdings in Trinity Capital by 0.3% in the fourth quarter. Kennedy Capital Management LLC now owns 220,336 shares of the company’s stock valued at $3,188,000 after buying an additional 676 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Trinity Capital by 9.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 11,173 shares of the company’s stock valued at $152,000 after acquiring an additional 918 shares during the period. Cornerstone Wealth Management LLC raised its stake in shares of Trinity Capital by 5.7% in the 4th quarter. Cornerstone Wealth Management LLC now owns 24,100 shares of the company’s stock valued at $349,000 after acquiring an additional 1,302 shares during the period. PFG Investments LLC lifted its holdings in shares of Trinity Capital by 12.9% during the 3rd quarter. PFG Investments LLC now owns 12,326 shares of the company’s stock valued at $167,000 after acquiring an additional 1,411 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its position in Trinity Capital by 11.4% during the 4th quarter. Oppenheimer & Co. Inc. now owns 13,852 shares of the company’s stock worth $200,000 after purchasing an additional 1,423 shares during the period. 24.62% of the stock is owned by institutional investors and hedge funds.

About Trinity Capital

Trinity Capital Inc is a business development company. It is a venture capital firm specializing in venture debt to growth stage companies looking for loans and/or equipment financing. Trinity Capital Inc was founded in 2019 is based in Phoenix, Arizona with additional offices in the United States.