Trinity Biotech PLC (NASDAQ:TRIB) Stock Short Interest Jumps 123.3%

Trinity Biotech PLC (NASDAQ:TRIB) was the target of a significant increase in short interest in September. As of September 30th, there was short interest totaling 17,870 shares, an increase of 123.3% from the September 15th total of 8,001 shares. Currently, 2.4% of the company’s stock are short sold. Based on an average daily volume of 8,408 shares, the short-interest ratio is presently 2.1 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of Trinity Biotech from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, September 4th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat, the stock has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Trinity Biotech stock. Yorkville Advisors Global LP acquired a new position in shares of Trinity Biotech PLC (NASDAQ:TRIB) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 225,000 shares of the company’s stock, valued at approximately $122,000. Yorkville Advisors Global LP owned approximately 6.27% of Trinity Biotech as of its most recent SEC filing. 78.97% of the stock is owned by institutional investors.

Trinity Biotech Stock Performance

NASDAQ:TRIB opened at $6.56 on Tuesday. Trinity Biotech has a 52-week low of $5.01 and a 52-week high of $52.50. The company has a market cap of $5.33 million, a P/E ratio of -0.15 and a beta of 0.73. The stock’s 50-day simple moving average is $8.91 and its 200 day simple moving average is $13.90.

Trinity Biotech Company Profile

Trinity Biotech plc is a biotechnology and medical diagnostics company headquartered in Bray, Ireland. The company develops, manufactures and markets diagnostic products used by clinical laboratories, healthcare professionals and patients.

Its product portfolio includes tests for infectious diseases, autoimmune disorders and diabetes. Trinity Biotech is particularly known for HIV diagnostic products, including rapid and laboratory-based testing solutions, as well as assays and instruments used in clinical testing.