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

Trinity Biotech PLC (NASDAQ:TRIB) was the target of a significant decrease in short interest in the month of April. As of April 30th, there was short interest totaling 233,333 shares, a decrease 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 presently 3.5 days. Currently, 7.1% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered Trinity Biotech from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, May 8th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce”.

Trinity Biotech Trading Down 0.8%

NASDAQ:TRIB opened at $0.57 on Tuesday. Trinity Biotech has a 1-year low of $0.50 and a 1-year high of $3.44. The business’s 50-day moving average price is $0.65 and its two-hundred day moving average price is $0.79. The firm has a market capitalization of $2.05 million and a price-to-earnings ratio of -0.06.

Hedge Funds Weigh In On Trinity Biotech

Hedge funds have recently added to or reduced their stakes in the stock. Citadel Advisors LLC lifted its stake in 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 period. Williams & Novak LLC lifted its stake in Trinity Biotech by 677.5% in 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 acquired a new position in Trinity Biotech in the first quarter valued at about $122,000. Hunter Associates Investment Management LLC lifted its stake in 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 buying an additional 39,500 shares during the period. Finally, Perceptive Advisors LLC acquired a new position in Trinity Biotech in the second quarter valued at about $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.