Short Interest in Trinity Biotech PLC (NASDAQ:TRIB) Declines By 95.3%

Trinity Biotech PLC (NASDAQ:TRIB) was the target of a significant decrease in short interest in July. As of July 31st, there was short interest totaling 17,142 shares, a decrease of 95.3% from the July 15th total of 364,403 shares. Currently, 2.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 31,182 shares, the days-to-cover ratio is currently 0.5 days.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Trinity Biotech in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

Trinity Biotech Stock Up 3.9%

Shares of TRIB stock traded up $0.45 on Thursday, hitting $12.10. The company had a trading volume of 38,560 shares, compared to its average volume of 25,346. Trinity Biotech has a twelve month low of $7.94 and a twelve month high of $103.20. The firm has a market cap of $8.23 million and a P/E ratio of -0.27. The company has a 50-day moving average price of $13.49 and a 200-day moving average price of $18.27.

Trinity Biotech (NASDAQ:TRIB) last issued its quarterly earnings data on Tuesday, June 16th. The company reported ($6.90) EPS for the quarter, topping analysts’ consensus estimates of ($9.30) by $2.40. The firm had revenue of $10.85 million for the quarter, compared to analyst estimates of $10.68 million.

Hedge Funds Weigh In On Trinity Biotech

A number of hedge funds have recently bought and sold shares of TRIB. Perceptive Advisors LLC acquired a new position in Trinity Biotech in the 2nd quarter valued at $1,164,000. Yorkville Advisors Global LP purchased a new position in shares of Trinity Biotech in the 1st quarter valued at about $122,000. Williams & Novak LLC boosted its holdings in Trinity Biotech by 30.6% during the second quarter. Williams & Novak LLC now owns 140,543 shares of the company’s stock worth $55,000 after buying an additional 32,900 shares in the last quarter. Finally, Citadel Advisors LLC grew its position in Trinity Biotech by 196.1% during the third quarter. Citadel Advisors LLC now owns 39,384 shares of the company’s stock worth $41,000 after buying an additional 26,084 shares during the period. Hedge funds and other institutional investors 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.