Trinity Biotech PLC (NASDAQ:TRIB) Short Interest Update

Trinity Biotech PLC (NASDAQ:TRIB) saw a large growth in short interest in June. As of June 30th, there was short interest totaling 1,417,438 shares, a growth of 878.7% from the June 15th total of 144,829 shares. Approximately 43.0% of the shares of the stock are sold short. Based on an average daily volume of 6,999,204 shares, the short-interest ratio is currently 0.2 days.

Institutional Investors Weigh In On Trinity Biotech

Several institutional investors and hedge funds have recently made changes to their positions in TRIB. Citadel Advisors LLC grew its stake in Trinity Biotech by 196.1% in the 3rd quarter. Citadel Advisors LLC now owns 39,384 shares of the company’s stock valued at $41,000 after acquiring an additional 26,084 shares during the last quarter. Williams & Novak LLC raised its position in Trinity Biotech by 30.6% during the second quarter. Williams & Novak LLC now owns 140,543 shares of the company’s stock worth $55,000 after acquiring an additional 32,900 shares during the last quarter. Yorkville Advisors Global LP purchased a new stake in shares of Trinity Biotech in the first quarter valued at about $122,000. Hunter Associates Investment Management LLC lifted its holdings in shares of Trinity Biotech by 8.1% in 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 in the last quarter. Finally, Perceptive Advisors LLC acquired a new stake in shares of Trinity Biotech in the second quarter valued at approximately $1,164,000. 78.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Trinity Biotech from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, May 8th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Trinity Biotech presently has a consensus rating of “Reduce”.

Trinity Biotech Price Performance

Shares of NASDAQ:TRIB opened at $0.39 on Monday. The firm has a market capitalization of $1.39 million and a price-to-earnings ratio of -0.22. The business’s 50 day simple moving average is $0.56 and its 200-day simple moving average is $0.68. Trinity Biotech has a 12 month low of $0.31 and a 12 month high of $3.44.

Trinity Biotech’s stock is scheduled to reverse split before the market opens on Friday, July 24th. The 1-30 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, July 23rd.

Trinity Biotech (NASDAQ:TRIB) last issued its quarterly earnings data on Tuesday, June 16th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.08. The firm had revenue of $10.85 million for the quarter, compared to analyst estimates of $10.68 million.

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.