Trinity Biotech plc (NASDAQ:TRIB) Short Interest Update

Trinity Biotech plc (NASDAQ:TRIB) was the target of a large decline in short interest in October. As of October 31st, there was short interest totalling 94,100 shares, a decline of 23.1% from the October 15th total of 122,300 shares. Based on an average trading volume of 1,350,000 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.9% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on Trinity Biotech in a report on Friday, August 30th. They issued a “buy” rating for the company.

Hedge Funds Weigh In On Trinity Biotech

A hedge fund recently raised its stake in Trinity Biotech stock. Hunter Associates Investment Management LLC boosted its holdings in shares of Trinity Biotech plc (NASDAQ:TRIB) by 7.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 359,810 shares of the company’s stock after purchasing an additional 26,100 shares during the quarter. Hunter Associates Investment Management LLC owned approximately 4.72% of Trinity Biotech worth $390,000 at the end of the most recent quarter. 78.97% of the stock is owned by hedge funds and other institutional investors.

Trinity Biotech Stock Performance

Trinity Biotech stock opened at $1.37 on Friday. Trinity Biotech has a one year low of $1.05 and a one year high of $3.55. The stock’s 50 day moving average price is $1.58 and its 200 day moving average price is $2.03. The firm has a market capitalization of $10.44 million, a PE ratio of -0.51 and a beta of 1.13.

Trinity Biotech (NASDAQ:TRIB) last announced its earnings results on Wednesday, August 14th. The company reported ($0.55) earnings per share for the quarter, beating the consensus estimate of ($0.65) by $0.10. The firm had revenue of $15.84 million during the quarter, compared to analysts’ expectations of $15.75 million. On average, analysts forecast that Trinity Biotech will post -1.91 earnings per share for the current fiscal year.

About Trinity Biotech

Trinity Biotech plc acquires, together with its subsidiaries, develops, acquires, manufactures, and markets medical diagnostic products for the clinical laboratory and point-of-care (POC) segments of the diagnostic market in the Americas and Ireland. The company offers clinical laboratory products, including diagnostic tests and instrumentation, which detects infectious diseases; sexually transmitted diseases consisting of syphilis and herpes; SARS-CoV-2; and epstein barr, measles, mumps, toxoplasmosis, cytomegalovirus, rubella, varicella and other viral pathogens, as well as products for the in-vitro diagnostic testing for haemoglobin A1c used in the monitoring and diagnosis of diabetes, and identifying those who are at a risk of developing diabetes.