Short Interest in Trinity Biotech PLC (NASDAQ:TRIB) Declines By 39.6%

Trinity Biotech PLC (NASDAQ:TRIB) saw a large decline in short interest in June. As of June 15th, there was short interest totaling 144,829 shares, a decline of 39.6% from the May 31st total of 239,691 shares. Based on an average daily volume of 145,980 shares, the short-interest ratio is presently 1.0 days. Approximately 4.4% of the shares of the stock are short sold.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Perceptive Advisors LLC bought a new stake in shares of Trinity Biotech in the 2nd quarter worth about $1,164,000. 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 worth $417,000 after purchasing an additional 39,500 shares during the last quarter. Yorkville Advisors Global LP purchased a new position in shares of Trinity Biotech during the first quarter valued at approximately $122,000. Williams & Novak LLC boosted its position in shares of Trinity Biotech by 677.5% during 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. Finally, Citadel Advisors LLC grew its stake in shares of Trinity Biotech by 196.1% during 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. Institutional investors own 78.97% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of 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. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce”.

Trinity Biotech Stock Up 5.5%

Trinity Biotech stock traded up $0.02 during mid-day trading on Thursday, reaching $0.38. 828,017 shares of the company’s stock traded hands, compared to its average volume of 768,238. Trinity Biotech has a 12-month low of $0.31 and a 12-month high of $3.44. The stock has a 50 day moving average of $0.60 and a two-hundred day moving average of $0.70. The company has a market cap of $1.35 million and a price-to-earnings ratio of -0.22.

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