Short Interest in Trinity Biotech PLC (NASDAQ:TRIB) Declines By 74.3%

Trinity Biotech PLC (NASDAQ:TRIB) was the target of a large decrease in short interest in July. As of July 15th, there was short interest totaling 364,403 shares, a decrease of 74.3% from the June 30th total of 1,417,438 shares. Currently, 11.1% of the company’s stock are sold short. Based on an average daily volume of 497,743 shares, the days-to-cover ratio is currently 0.7 days.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Trinity Biotech

A number of hedge funds and other institutional investors have recently bought and sold shares of TRIB. Williams & Novak LLC increased its position in Trinity Biotech by 30.6% in the second quarter. Williams & Novak LLC now owns 140,543 shares of the company’s stock worth $55,000 after buying an additional 32,900 shares during the period. Yorkville Advisors Global LP bought a new stake in Trinity Biotech in the 1st quarter valued at about $122,000. Citadel Advisors LLC lifted its position 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 purchasing an additional 26,084 shares during the last quarter. Perceptive Advisors LLC acquired a new position in Trinity Biotech during the 2nd quarter valued at about $1,164,000. Finally, Hunter Associates Investment Management LLC grew its position in Trinity Biotech by 8.1% in the 4th quarter. Hunter Associates Investment Management LLC now owns 526,610 shares of the company’s stock worth $417,000 after purchasing an additional 39,500 shares during the last quarter. 78.97% of the stock is currently owned by institutional investors and hedge funds.

Trinity Biotech Stock Performance

Shares of Trinity Biotech stock traded down $0.51 during trading hours on Friday, reaching $8.45. The company’s stock had a trading volume of 23,862 shares. Trinity Biotech has a one year low of $8.00 and a one year high of $103.20. The company’s 50 day simple moving average is $0.67 and its 200 day simple moving average is $0.69. The stock has a market cap of $1.01 million and a P/E ratio of -0.16.

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

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.