Short Interest in Trinity Biotech PLC (NASDAQ:TRIB) Decreases By 45.9%

Trinity Biotech PLC (NASDAQ:TRIB) saw a large drop in short interest during the month of August. As of August 14th, there was short interest totaling 9,275 shares, a drop of 45.9% from the July 30th total of 17,142 shares. Currently, 1.5% of the shares of the company are sold short. Based on an average trading volume of 28,628 shares, the short-interest ratio is currently 0.3 days.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Trinity Biotech from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 20th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

Trinity Biotech Trading Down 1.2%

TRIB traded down $0.11 on Tuesday, reaching $9.76. The stock had a trading volume of 4,536 shares, compared to its average volume of 25,857. The business’s 50-day moving average price is $11.21 and its two-hundred day moving average price is $16.97. The company has a market cap of $7.90 million and a P/E ratio of -0.22. Trinity Biotech has a 12-month low of $7.94 and a 12-month high of $52.50.

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

Hedge Funds Weigh In On Trinity Biotech

A number of hedge funds have recently made changes to their positions in the company. Citadel Advisors LLC raised its position 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 valued at $41,000 after buying an additional 26,084 shares during the last quarter. Williams & Novak LLC lifted its stake in Trinity Biotech by 30.6% in the 2nd quarter. Williams & Novak LLC now owns 140,543 shares of the company’s stock worth $55,000 after purchasing an additional 32,900 shares in the last quarter. Yorkville Advisors Global LP purchased a new stake in shares of Trinity Biotech in the first quarter valued at approximately $122,000. Finally, Perceptive Advisors LLC acquired a new stake in shares of Trinity Biotech in the second quarter valued at approximately $1,164,000. Institutional investors and hedge funds own 78.97% of the company’s stock.

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.