Trinity Biotech Shares Set to Reverse Split on Friday, July 24th (NASDAQ:TRIB)

Trinity Biotech PLC (NASDAQ:TRIB)’s stock is set to reverse split before the market opens on Friday, July 24th. The 1-30 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Thursday, July 23rd.

Trinity Biotech Price Performance

Shares of NASDAQ TRIB traded down $0.01 during midday trading on Wednesday, hitting $0.39. 192,113 shares of the company’s stock were exchanged, compared to its average volume of 761,416. The stock’s 50 day moving average price is $0.57 and its 200-day moving average price is $0.68. The firm has a market cap of $1.40 million and a P/E ratio of -0.23. Trinity Biotech has a twelve month low of $0.31 and a twelve month high of $3.44.

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

Analyst Ratings Changes

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

Hedge Funds Weigh In On Trinity Biotech

Hedge funds have recently made changes to their positions in the business. Perceptive Advisors LLC purchased a new position in Trinity Biotech during the 2nd quarter valued at about $1,164,000. Yorkville Advisors Global LP purchased a new stake in shares of Trinity Biotech in the first quarter worth approximately $122,000. Williams & Novak LLC boosted its holdings 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 worth $74,000 after purchasing an additional 81,300 shares during the period. Hunter Associates Investment Management LLC grew its position in Trinity Biotech by 8.1% during 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, 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 worth $41,000 after buying an additional 26,084 shares in the last quarter. Institutional investors and hedge funds own 78.97% of the company’s stock.

About Trinity Biotech

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.