Trinity Biotech PLC (NASDAQ:TRIB – Get Free Report) was the recipient of a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 31,360 shares, an increase of 75.5% from the September 30th total of 17,870 shares. Currently, 4.2% of the shares of the stock are short sold. Based on an average daily volume of 18,896 shares, the days-to-cover ratio is currently 1.7 days.
Trinity Biotech Trading Down 5.1%
Shares of TRIB opened at $6.46 on Wednesday. Trinity Biotech has a fifty-two week low of $5.01 and a fifty-two week high of $52.50. The company’s fifty day moving average is $7.53 and its two-hundred day moving average is $15.36.
Analysts Set New Price Targets
Separately, Weiss Ratings downgraded Trinity Biotech from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, September 4th. One analyst has rated the stock with a Sell rating. According to MarketBeat, Trinity Biotech presently has a consensus rating of “Sell”.
Check Out Our Latest Stock Analysis on TRIB
Hedge Funds Weigh In On Trinity Biotech
A hedge fund recently raised its position in Trinity Biotech stock. Williams & Novak LLC boosted its stake in Trinity Biotech PLC (NASDAQ:TRIB – Free Report) by 30.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 140,543 shares of the company’s stock after purchasing an additional 32,900 shares during the period. Williams & Novak LLC owned approximately 3.91% of Trinity Biotech worth $55,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 78.97% of the company’s stock.
About Trinity Biotech
Trinity Biotech plc is a medical diagnostics company headquartered in Dublin, Ireland, and listed on the Nasdaq under the symbol TRIB. The company develops, manufactures and markets diagnostic products used by clinical laboratories, hospitals, physicians and other healthcare providers.
Its product portfolio has historically focused on infectious disease testing, including assays for HIV and other conditions, as well as clinical chemistry, autoimmune disease and diabetes-related diagnostics.
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