Short Interest in Trinity Biotech PLC (NASDAQ:TRIB) Declines By 42.1%

Trinity Biotech PLC (NASDAQ:TRIB) was the recipient of a significant decline in short interest in the month of April. As of April 30th, there was short interest totaling 233,333 shares, a decline of 42.1% from the April 15th total of 402,865 shares. Based on an average trading volume of 66,902 shares, the days-to-cover ratio is currently 3.5 days. Currently, 7.1% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TRIB. Citadel Advisors LLC lifted its holdings in shares of Trinity Biotech by 196.1% in the third quarter. Citadel Advisors LLC now owns 39,384 shares of the company’s stock worth $41,000 after buying an additional 26,084 shares in the last quarter. Williams & Novak LLC grew its holdings in Trinity Biotech by 677.5% during the 4th 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 in the last quarter. Yorkville Advisors Global LP bought a new stake in Trinity Biotech in the first quarter worth $122,000. Hunter Associates Investment Management LLC lifted its position in Trinity Biotech by 8.1% during the fourth quarter. Hunter Associates Investment Management LLC now owns 526,610 shares of the company’s stock valued at $417,000 after purchasing an additional 39,500 shares during the last quarter. Finally, Perceptive Advisors LLC purchased a new position in Trinity Biotech in the second quarter worth about $1,164,000. 78.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce”.

Trinity Biotech Stock Performance

Shares of TRIB traded down $0.01 during mid-day trading on Friday, reaching $0.57. The stock had a trading volume of 21,098 shares. Trinity Biotech has a 12 month low of $0.50 and a 12 month high of $3.44. The business has a fifty day moving average of $0.65 and a 200 day moving average of $0.79.

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.