Trinity Biotech PLC (NASDAQ:TRIB) Sees Large Drop in Short Interest

Trinity Biotech PLC (NASDAQ:TRIB – Get Free Report) saw a large drop in short interest in August. As of August 14th, there was short interest totaling 9,275 shares, a drop of 45.9% from the July 30th total of 17,142 shares. Currently, 1.5% of the shares of the company are sold short. Based on an average daily volume of 28,628 shares, the short-interest ratio is currently 0.3 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of 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, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

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Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Citadel Advisors LLC boosted its position in Trinity Biotech by 196.1% in the 3rd quarter. Citadel Advisors LLC now owns 39,384 shares of the company’s stock worth $41,000 after purchasing an additional 26,084 shares in the last quarter. Williams & Novak LLC lifted its stake in shares of Trinity Biotech by 677.5% in the 4th quarter. Williams & Novak LLC now owns 93,300 shares of the company’s stock valued at $74,000 after purchasing an additional 81,300 shares during the period. Yorkville Advisors Global LP acquired a new position in shares of Trinity Biotech in the 1st quarter valued at $122,000. Finally, Perceptive Advisors LLC purchased a new stake in Trinity Biotech during the second quarter worth $1,164,000. 78.97% of the stock is owned by institutional investors and hedge funds.

Trinity Biotech Price Performance

NASDAQ:TRIB traded down $0.19 during mid-day trading on Monday, hitting $9.49. The company’s stock had a trading volume of 4,588 shares, compared to its average volume of 25,933. The business’s fifty day moving average is $11.36 and its two-hundred day moving average is $17.02. The stock has a market cap of $6.41 million and a price-to-earnings ratio of -0.21. Trinity Biotech has a 1 year low of $7.94 and a 1 year high of $52.50.

Trinity Biotech (NASDAQ:TRIB – Get Free Report) last released its quarterly earnings data on Tuesday, June 16th. The company reported ($6.90) earnings per share for the quarter, beating analysts’ consensus estimates of ($9.30) by $2.40. The company had revenue of $10.85 million for the quarter, compared to analysts’ expectations of $10.68 million.

About Trinity Biotech

(Get Free Report)

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.

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