Trinity Biotech PLC (NASDAQ:TRIB) Short Interest Update

Trinity Biotech PLC (NASDAQ:TRIB) was the recipient of a large decrease in short interest in the month of 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. Approximately 11.1% of the company’s stock are sold short. Based on an average daily trading volume, of 497,743 shares, the days-to-cover ratio is presently 0.7 days.

Trinity Biotech Price Performance

NASDAQ TRIB opened at $9.15 on Tuesday. Trinity Biotech has a fifty-two week low of $7.94 and a fifty-two week high of $103.20. The stock’s 50-day moving average is $15.40 and its two-hundred day moving average is $19.13. The firm has a market cap of $1.10 million and a P/E ratio of -0.18.

Trinity Biotech (NASDAQ:TRIB) last released its quarterly earnings results on Tuesday, June 16th. The company reported ($6.90) earnings per share (EPS) for the quarter, topping the consensus estimate of ($9.30) by $2.40. The company had revenue of $10.85 million for the quarter, compared to the consensus estimate of $10.68 million.

Institutional Trading of Trinity Biotech

Several large investors have recently modified their holdings of TRIB. Citadel Advisors LLC increased its stake 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 purchasing an additional 26,084 shares during the period. Williams & Novak LLC increased its position in shares of Trinity Biotech by 30.6% during the second quarter. Williams & Novak LLC now owns 140,543 shares of the company’s stock valued at $55,000 after purchasing an additional 32,900 shares during the period. Yorkville Advisors Global LP bought a new stake in shares of Trinity Biotech during the first quarter valued at approximately $122,000. Hunter Associates Investment Management LLC raised its stake 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 position in shares of Trinity Biotech in the second quarter valued at $1,164,000. 78.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

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.