Trinity Capital (NASDAQ:TRIN) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Trinity Capital (NASDAQ:TRIN) had its price target lifted by investment analysts at Wells Fargo & Company from $15.00 to $16.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “underweight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential downside of 10.15% from the company’s current price.

Separately, Keefe, Bruyette & Woods lifted their price target on Trinity Capital from $16.00 to $16.50 and gave the company a “market perform” rating in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Trinity Capital currently has an average rating of “Moderate Buy” and a consensus target price of $17.58.

Trinity Capital Stock Up 0.4%

Shares of TRIN stock traded up $0.07 on Thursday, reaching $17.81. The company’s stock had a trading volume of 1,086,965 shares, compared to its average volume of 1,128,166. Trinity Capital has a 12-month low of $14.13 and a 12-month high of $18.90. The company has a market capitalization of $1.69 billion, a P/E ratio of 9.42 and a beta of 0.66. The stock’s 50 day simple moving average is $17.40 and its 200-day simple moving average is $16.73.

Trinity Capital (NASDAQ:TRIN) last posted its earnings results on Wednesday, August 5th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The business had revenue of $87.17 million for the quarter, compared to analysts’ expectations of $91.44 million. Trinity Capital had a return on equity of 14.94% and a net margin of 43.45%. Research analysts expect that Trinity Capital will post 2.10 EPS for the current year.

Institutional Trading of Trinity Capital

Several hedge funds and other institutional investors have recently bought and sold shares of TRIN. Van ECK Associates Corp boosted its stake in shares of Trinity Capital by 39.3% in the 2nd quarter. Van ECK Associates Corp now owns 2,153,437 shares of the company’s stock valued at $38,525,000 after purchasing an additional 607,988 shares in the last quarter. Melia Wealth LLC bought a new position in shares of Trinity Capital during the second quarter valued at about $24,221,000. Sound Income Strategies LLC raised its stake in shares of Trinity Capital by 9.4% during the second quarter. Sound Income Strategies LLC now owns 1,269,744 shares of the company’s stock valued at $22,716,000 after acquiring an additional 109,291 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in shares of Trinity Capital by 2.2% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 346,192 shares of the company’s stock worth $6,193,000 after purchasing an additional 7,314 shares during the last quarter. Finally, BlackRock Inc. bought a new stake in shares of Trinity Capital in the second quarter worth about $5,134,000. Hedge funds and other institutional investors own 24.62% of the company’s stock.

Trinity Capital News Roundup

Here are the key news stories impacting Trinity Capital this week:

• Positive Sentiment: B. Riley reaffirmed its Buy rating and raised its price target to $20 from $19, signaling more potential upside in the firm’s view. B. Riley rating information
• Positive Sentiment: Trinity outlined up to $500 million of capacity for its Desert Star joint venture, while its managed-funds platform approaches $1 billion. The added capacity could support growth in investment activity. Trinity Capital outlines Desert Star JV capacity
• Neutral Sentiment: Trinity reported third-quarter and nine-month results, but the provided coverage does not include the figures needed to assess whether performance beat expectations. Trinity Capital third-quarter results
• Neutral Sentiment: Seeking Alpha commentary described Trinity’s Q3 metrics and credit profile as supportive of its baby bonds. That view relates primarily to the company’s debt securities, rather than directly recommending the common stock. Trinity Capital Q3 metrics and credit profile
• Negative Sentiment: Wells Fargo raised its target to $16 from $15 but maintained an Underweight rating, implying downside from the referenced share price. KBW also raised its target—to $18 from $16.50—while keeping a Market Perform rating, reflecting a more restrained outlook than B. Riley’s. Wells Fargo price-target coverage

Trinity Capital Company Profile

Trinity Capital Inc (NASDAQ:TRIN) is a business development company that provides debt financing to venture capital- and private equity-backed companies. The company focuses primarily on growth-stage businesses that may require capital to support expansion, product development, acquisitions, working capital and other corporate needs.

Through its investment platform, Trinity Capital offers a range of financing solutions, including secured loans, equipment financing, growth capital and other customized debt structures.