Trinity Biotech PLC (NASDAQ:TRIB) Short Interest Update

Trinity Biotech PLC (NASDAQ:TRIB) saw a significant growth in short interest in the month of June. As of June 30th, there was short interest totaling 1,417,438 shares, a growth of 878.7% from the June 15th total of 144,829 shares. Based on an average trading volume of 6,999,204 shares, the days-to-cover ratio is presently 0.2 days. Currently, 43.0% of the shares of the company are sold short.

Analysts Set New Price Targets

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

Trinity Biotech Price Performance

Shares of TRIB stock traded down $0.00 during mid-day trading on Friday, reaching $0.39. The stock had a trading volume of 386,213 shares. Trinity Biotech has a one year low of $0.31 and a one year high of $3.44. The firm’s 50 day simple moving average is $0.56 and its 200 day simple moving average is $0.68.

Trinity Biotech’s stock is set to reverse split before the market opens on Friday, July 24th. The 1-30 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, July 23rd.

Trinity Biotech (NASDAQ:TRIB) last issued its earnings results on Tuesday, June 16th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.08. The firm had revenue of $10.85 million during the quarter, compared to analyst estimates of $10.68 million.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in TRIB. Williams & Novak LLC grew its holdings in Trinity Biotech by 30.6% during the 2nd quarter. Williams & Novak LLC now owns 140,543 shares of the company’s stock worth $55,000 after acquiring an additional 32,900 shares during the last quarter. Yorkville Advisors Global LP bought a new position in shares of Trinity Biotech in the first quarter worth about $122,000. Hunter Associates Investment Management LLC lifted its position in shares of Trinity Biotech by 8.1% during the fourth quarter. Hunter Associates Investment Management LLC now owns 526,610 shares of the company’s stock worth $417,000 after purchasing an additional 39,500 shares in the last quarter. Citadel Advisors LLC lifted its position in shares of Trinity Biotech by 196.1% during the third quarter. Citadel Advisors LLC now owns 39,384 shares of the company’s stock worth $41,000 after purchasing an additional 26,084 shares in the last quarter. Finally, Perceptive Advisors LLC bought a new stake in shares of Trinity Biotech during the second quarter valued at approximately $1,164,000. 78.97% of the stock is owned by institutional investors.

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.