Short Interest in Trinity Capital Inc. (NASDAQ:TRIN) Grows By 22.7%

Trinity Capital Inc. (NASDAQ:TRINGet Free Report) saw a large growth in short interest in April. As of April 30th, there was short interest totalling 1,140,000 shares, a growth of 22.7% from the April 15th total of 929,300 shares. Approximately 2.5% of the company’s stock are short sold. Based on an average trading volume of 479,300 shares, the days-to-cover ratio is currently 2.4 days.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. B. Riley cut their price target on Trinity Capital from $16.50 to $16.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. UBS Group raised their price target on Trinity Capital from $16.00 to $16.50 and gave the stock a “buy” rating in a research report on Monday, March 18th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $15.50.

Check Out Our Latest Research Report on TRIN

Insider Transactions at Trinity Capital

In related news, CEO Kyle Steven Brown acquired 3,354 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was bought at an average price of $14.91 per share, with a total value of $50,008.14. Following the acquisition, the chief executive officer now owns 821,477 shares in the company, valued at approximately $12,248,222.07. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 7.75% of the company’s stock.

Institutional Investors Weigh In On Trinity Capital

Hedge funds and other institutional investors have recently modified their holdings of the company. Legacy Capital Wealth Partners LLC bought a new stake in shares of Trinity Capital during the fourth quarter valued at approximately $1,487,000. Quadrature Capital Ltd bought a new stake in Trinity Capital during the third quarter worth $1,241,000. Barclays PLC bought a new stake in Trinity Capital during the third quarter worth $1,174,000. Cornerstone Wealth Management LLC bought a new stake in Trinity Capital during the fourth quarter worth $172,000. Finally, Stratos Wealth Partners LTD. bought a new stake in Trinity Capital during the fourth quarter worth $154,000. Institutional investors own 24.62% of the company’s stock.

Trinity Capital Trading Down 0.2 %

Shares of Trinity Capital stock traded down $0.03 during midday trading on Wednesday, reaching $14.95. The company had a trading volume of 129,721 shares, compared to its average volume of 494,109. The stock has a fifty day moving average price of $14.72 and a 200 day moving average price of $14.58. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.06 and a quick ratio of 0.06. The firm has a market cap of $739.73 million, a PE ratio of 9.30 and a beta of 0.60. Trinity Capital has a fifty-two week low of $11.62 and a fifty-two week high of $15.44.

Trinity Capital (NASDAQ:TRINGet Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.03). The business had revenue of $50.45 million during the quarter, compared to analyst estimates of $50.09 million. Trinity Capital had a net margin of 36.12% and a return on equity of 16.73%. During the same period last year, the firm posted $0.52 earnings per share. On average, equities analysts anticipate that Trinity Capital will post 2.14 earnings per share for the current year.

Trinity Capital Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.51 per share. This is an increase from Trinity Capital’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $2.04 annualized dividend and a dividend yield of 13.65%. Trinity Capital’s payout ratio is currently 126.71%.

Trinity Capital Company Profile

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Trinity Capital Inc is a business development company. It is a venture capital firm specializing in venture debt to growth stage companies looking for loans and/or equipment financing. Trinity Capital Inc was founded in 2019 is based in Phoenix, Arizona with additional offices in the United States.

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