Trinity Capital (NASDAQ:TRIN) Price Target Cut to $16.00

Trinity Capital (NASDAQ:TRIN) had its target price dropped by equities researchers at B. Riley from $16.50 to $16.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. B. Riley’s target price suggests a potential upside of 9.36% from the company’s previous close.

Separately, UBS Group boosted their price target on shares of Trinity Capital from $16.00 to $16.50 and gave the stock a “buy” rating in a research note on Monday, March 18th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $15.50.

Trinity Capital Trading Up 1.0 %

NASDAQ TRIN traded up $0.15 during trading hours on Thursday, reaching $14.63. The company had a trading volume of 386,297 shares, compared to its average volume of 465,243. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $723.89 million, a P/E ratio of 9.09 and a beta of 0.60. The stock has a 50-day moving average of $14.66 and a 200 day moving average of $14.50. Trinity Capital has a 1-year low of $11.32 and a 1-year high of $15.44.

Trinity Capital (NASDAQ:TRIN) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). The business had revenue of $50.45 million for the quarter, compared to analysts’ expectations of $50.09 million. Trinity Capital had a return on equity of 16.73% and a net margin of 36.12%. During the same quarter last year, the company earned $0.52 earnings per share. As a group, research analysts anticipate that Trinity Capital will post 2.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Kyle Steven Brown bought 3,354 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were purchased at an average cost of $14.91 per share, for a total transaction of $50,008.14. Following the completion of the purchase, the chief executive officer now owns 821,477 shares of the company’s stock, valued at $12,248,222.07. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 7.75% of the company’s stock.

Institutional Trading of Trinity Capital

A number of large investors have recently made changes to their positions in the company. Tucker Asset Management LLC purchased a new position in Trinity Capital in the fourth quarter valued at approximately $45,000. Tower Research Capital LLC TRC increased its stake in Trinity Capital by 3,460.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,560 shares of the company’s stock valued at $52,000 after purchasing an additional 3,460 shares during the last quarter. Avior Wealth Management LLC increased its stake in Trinity Capital by 76.9% in the fourth quarter. Avior Wealth Management LLC now owns 4,119 shares of the company’s stock valued at $60,000 after purchasing an additional 1,791 shares during the last quarter. Cape Investment Advisory Inc. purchased a new position in Trinity Capital in the fourth quarter valued at approximately $107,000. Finally, C M Bidwell & Associates Ltd. purchased a new position in Trinity Capital in the third quarter valued at approximately $126,000. 24.62% of the stock is currently owned by hedge funds and other institutional investors.

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.