Trinity Biotech PLC (NASDAQ:TRIB) Short Interest Update

Trinity Biotech PLC (NASDAQ:TRIB) was the target of a significant drop in short interest during the month of July. As of July 31st, there was short interest totaling 17,142 shares, a drop of 95.3% from the July 15th total of 364,403 shares. Approximately 2.8% of the shares of the company are sold short. Based on an average trading volume of 31,182 shares, the short-interest ratio is presently 0.5 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Trinity Biotech in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TRIB. Citadel Advisors LLC boosted its holdings in Trinity Biotech by 196.1% in the 3rd quarter. Citadel Advisors LLC now owns 39,384 shares of the company’s stock valued at $41,000 after purchasing an additional 26,084 shares in the last quarter. Williams & Novak LLC lifted its holdings in shares of Trinity Biotech by 30.6% in the 2nd quarter. Williams & Novak LLC now owns 140,543 shares of the company’s stock valued at $55,000 after buying an additional 32,900 shares during the period. Yorkville Advisors Global LP purchased a new stake in shares of Trinity Biotech in the first quarter valued at approximately $122,000. Finally, Perceptive Advisors LLC purchased a new stake in shares of Trinity Biotech in the second quarter valued at approximately $1,164,000. 78.97% of the stock is currently owned by institutional investors and hedge funds.

Trinity Biotech Price Performance

Shares of TRIB stock traded down $1.33 during midday trading on Wednesday, hitting $12.05. The company had a trading volume of 28,270 shares, compared to its average volume of 25,076. The company’s 50 day simple moving average is $13.69 and its 200 day simple moving average is $18.34. Trinity Biotech has a 52-week low of $7.94 and a 52-week high of $103.20. The stock has a market cap of $8.19 million and a price-to-earnings ratio of -0.27.

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

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.