Short Interest in Trinity Biotech PLC (NASDAQ:TRIB) Drops By 45.9%

Trinity Biotech PLC (NASDAQ:TRIB) was the recipient of a significant decline in short interest in the month of August. As of August 14th, there was short interest totaling 9,275 shares, a decline of 45.9% from the July 30th total of 17,142 shares. Based on an average trading volume of 28,628 shares, the short-interest ratio is currently 0.3 days. Currently, 1.5% of the company’s shares are sold short.

Analyst Ratings Changes

Separately, Weiss Ratings raised Trinity Biotech from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 20th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

Trinity Biotech Price Performance

Shares of NASDAQ TRIB opened at $9.68 on Friday. The stock has a market capitalization of $6.58 million and a PE ratio of -0.22. Trinity Biotech has a one year low of $7.94 and a one year high of $52.50. The business’s fifty day moving average price is $11.36 and its 200-day moving average price is $17.07.

Trinity Biotech (NASDAQ:TRIB) last released its quarterly earnings data on Tuesday, June 16th. The company reported ($6.90) EPS for the quarter, topping the consensus estimate of ($9.30) by $2.40. The company had revenue of $10.85 million during the quarter, compared to analysts’ expectations of $10.68 million.

Hedge Funds Weigh In On Trinity Biotech

Large investors have recently bought and sold shares of the stock. Citadel Advisors LLC lifted its position in Trinity Biotech by 196.1% in the third 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 during the last quarter. Williams & Novak LLC grew its holdings in shares of Trinity Biotech by 677.5% in the fourth quarter. Williams & Novak LLC now owns 93,300 shares of the company’s stock worth $74,000 after purchasing an additional 81,300 shares during the last quarter. Yorkville Advisors Global LP purchased a new position in shares of Trinity Biotech in the first quarter worth $122,000. Finally, Perceptive Advisors LLC purchased a new position in shares of Trinity Biotech in the second quarter worth $1,164,000. 78.97% of the stock is owned by hedge funds and other institutional investors.

About Trinity Biotech

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.