Trinity Biotech (NASDAQ:TRIB) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of Trinity Biotech (NASDAQ:TRIB) in a research report sent to investors on Tuesday. The brokerage issued a buy rating on the stock.

Trinity Biotech Trading Down 4.8 %

TRIB stock opened at $1.79 on Tuesday. The stock has a market cap of $13.64 million, a P/E ratio of -0.56 and a beta of 1.21. The stock’s fifty day simple moving average is $2.09 and its two-hundred day simple moving average is $2.28. Trinity Biotech has a 1-year low of $1.79 and a 1-year high of $6.20.

Trinity Biotech (NASDAQ:TRIB) last issued its quarterly earnings results on Wednesday, January 31st. The company reported ($0.90) earnings per share for the quarter. The company had revenue of $14.68 million for the quarter. As a group, analysts forecast that Trinity Biotech will post -1.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Trinity Biotech

Several institutional investors have recently bought and sold shares of TRIB. Atria Wealth Solutions Inc. purchased a new position in shares of Trinity Biotech during the 1st quarter valued at $27,000. Virtu Financial LLC purchased a new position in shares of Trinity Biotech in the first quarter worth about $40,000. Whitefort Capital Management LP raised its position in shares of Trinity Biotech by 1,067.8% in the first quarter. Whitefort Capital Management LP now owns 409,517 shares of the company’s stock valued at $434,000 after purchasing an additional 374,449 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in shares of Trinity Biotech by 2.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,503,336 shares of the company’s stock valued at $1,842,000 after buying an additional 34,900 shares in the last quarter. Hedge funds and other institutional investors own 78.97% of the company’s stock.

About Trinity Biotech

Trinity Biotech plc acquires, together with its subsidiaries, develops, manufactures, and markets medical diagnostic products for the clinical laboratory and point-of-care (POC) segments of the diagnostic market in the Americas, Africa, Asia, and Europe. The company offers clinical laboratory products, including diagnostic tests and instrumentation, which detect infectious diseases, such as lyme disease; sexually transmitted diseases consisting 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.