Short Interest in Trinity Capital Inc. (NASDAQ:TRIN) Grows By 26.9%

Trinity Capital Inc. (NASDAQ:TRIN) was the recipient of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 1,370,000 shares, a growth of 26.9% from the March 15th total of 1,080,000 shares. Based on an average daily trading volume, of 605,400 shares, the short-interest ratio is presently 2.3 days. Currently, 2.3% of the shares of the company are short sold.

Institutional Investors Weigh In On Trinity Capital

A number of hedge funds have recently made changes to their positions in the stock. Kennedy Capital Management LLC lifted its stake in Trinity Capital by 0.3% in the 4th quarter. Kennedy Capital Management LLC now owns 220,336 shares of the company’s stock valued at $3,188,000 after purchasing an additional 676 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Trinity Capital by 9.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,173 shares of the company’s stock valued at $176,000 after acquiring an additional 1,000 shares during the last quarter. Cornerstone Wealth Management LLC grew its position in Trinity Capital by 5.7% during the 4th quarter. Cornerstone Wealth Management LLC now owns 24,100 shares of the company’s stock worth $349,000 after acquiring an additional 1,302 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in Trinity Capital by 11.4% in the fourth quarter. Oppenheimer & Co. Inc. now owns 13,852 shares of the company’s stock valued at $200,000 after purchasing an additional 1,423 shares during the last quarter. Finally, Corient Private Wealth LLC increased its stake in shares of Trinity Capital by 2.0% in the fourth quarter. Corient Private Wealth LLC now owns 80,101 shares of the company’s stock valued at $1,159,000 after buying an additional 1,554 shares during the period. 24.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TRIN has been the subject of a number of research reports. Keefe, Bruyette & Woods raised their target price 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, February 27th. UBS Group decreased their price target on shares of Trinity Capital from $18.00 to $16.50 and set a “buy” rating on the stock in a research note on Thursday. Finally, Wells Fargo & Company lifted their price objective on shares of Trinity Capital from $13.00 to $14.00 and gave the stock an “underweight” rating in a research note on Friday, February 28th.

Trinity Capital Price Performance

TRIN stock opened at $14.32 on Friday. The company’s 50-day moving average price is $15.44 and its two-hundred day moving average price is $14.76. The firm has a market cap of $899.74 million, a P/E ratio of 8.37 and a beta of 0.56. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.07. Trinity Capital has a 12 month low of $12.50 and a 12 month high of $16.82.

Trinity Capital (NASDAQ:TRIN) last announced its quarterly earnings data 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 net margin of 40.73% and a return on equity of 15.90%. The business had revenue of $70.83 million during the quarter, compared to the consensus estimate of $64.13 million. On average, analysts anticipate that Trinity Capital will post 2.06 earnings per share for the current fiscal year.

Trinity Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 14.25%. The ex-dividend date was Monday, March 31st. Trinity Capital’s dividend payout ratio is presently 99.03%.

Trinity Capital Company Profile

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.