Trinity Biotech PLC (NASDAQ:TRIB) Short Interest Update

Trinity Biotech PLC (NASDAQ:TRIB) was the recipient of a significant decline in short interest in the month of July. As of July 31st, there was short interest totaling 17,142 shares, a decline of 95.3% from the July 15th total of 364,403 shares. Currently, 2.8% of the company’s shares are sold short. Based on an average daily volume of 31,182 shares, the days-to-cover ratio is currently 0.5 days.

Trinity Biotech Price Performance

Shares of TRIB stock traded up $0.18 during mid-day trading on Tuesday, hitting $13.38. The stock had a trading volume of 55,379 shares, compared to its average volume of 31,155. Trinity Biotech has a 12-month low of $7.94 and a 12-month high of $103.20. The firm’s 50-day moving average is $13.69 and its two-hundred day moving average is $18.34. The firm has a market capitalization of $9.10 million and a P/E ratio of -0.30.

Trinity Biotech (NASDAQ:TRIB) last announced its quarterly earnings results on Tuesday, June 16th. The company reported ($6.90) EPS for the quarter, beating the consensus estimate of ($9.30) by $2.40. The firm had revenue of $10.85 million for the quarter, compared to analysts’ expectations of $10.68 million.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Citadel Advisors LLC lifted its position in shares of Trinity Biotech by 196.1% in the 3rd quarter. Citadel Advisors LLC now owns 39,384 shares of the company’s stock worth $41,000 after purchasing an additional 26,084 shares during the period. Williams & Novak LLC increased its holdings in Trinity Biotech by 677.5% during the fourth quarter. Williams & Novak LLC now owns 93,300 shares of the company’s stock valued at $74,000 after buying an additional 81,300 shares during the period. Yorkville Advisors Global LP bought a new position in Trinity Biotech in the first quarter worth approximately $122,000. Finally, Perceptive Advisors LLC bought a new position in Trinity Biotech in the second quarter worth approximately $1,164,000. Hedge funds and other institutional investors own 78.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Trinity Biotech in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

About Trinity Biotech

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.