Short Interest in Trinity Capital Inc. (NASDAQ:TRIN) Decreases By 33.8%

Trinity Capital Inc. (NASDAQ:TRIN) saw a large decrease in short interest in the month of February. As of February 28th, there was short interest totalling 1,020,000 shares, a decrease of 33.8% from the February 13th total of 1,540,000 shares. Approximately 1.7% of the company’s shares are sold short. Based on an average daily volume of 566,000 shares, the days-to-cover ratio is currently 1.8 days.

Hedge Funds Weigh In On Trinity Capital

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Van ECK Associates Corp boosted its stake in shares of Trinity Capital by 6.8% during the fourth quarter. Van ECK Associates Corp now owns 1,389,788 shares of the company’s stock valued at $20,110,000 after purchasing an additional 88,698 shares in the last quarter. Melia Wealth LLC boosted its stake in shares of Trinity Capital by 3.0% during the fourth quarter. Melia Wealth LLC now owns 1,096,969 shares of the company’s stock valued at $15,873,000 after purchasing an additional 32,107 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of Trinity Capital by 9.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 843,849 shares of the company’s stock valued at $12,211,000 after purchasing an additional 71,633 shares in the last quarter. Ares Management LLC boosted its stake in shares of Trinity Capital by 25.0% during the fourth quarter. Ares Management LLC now owns 549,839 shares of the company’s stock valued at $7,956,000 after purchasing an additional 109,839 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in Trinity Capital by 21.9% in the fourth quarter. Millennium Management LLC now owns 449,040 shares of the company’s stock valued at $6,498,000 after acquiring an additional 80,721 shares in the last quarter. 24.62% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on TRIN shares. Keefe, Bruyette & Woods increased their price objective on shares of Trinity Capital from $15.00 to $16.00 and gave the stock a “market perform” rating in a research report on Thursday, February 27th. Wells Fargo & Company increased their price objective on shares of Trinity Capital from $13.00 to $14.00 and gave the stock an “underweight” rating in a research report on Friday, February 28th.

Trinity Capital Trading Up 1.7 %

Shares of NASDAQ:TRIN traded up $0.27 during trading on Friday, reaching $15.83. 398,612 shares of the company were exchanged, compared to its average volume of 541,587. The firm has a market capitalization of $994.61 million, a PE ratio of 9.26 and a beta of 0.54. The business’s fifty day simple moving average is $15.42 and its 200-day simple moving average is $14.55. Trinity Capital has a 12-month low of $13.05 and a 12-month high of $16.82. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.05 and a quick ratio of 0.05.

Trinity Capital (NASDAQ:TRIN) last issued its earnings results on Wednesday, February 26th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $64.13 million. On average, research analysts anticipate that Trinity Capital will post 2.06 EPS for the current year.

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.