Trinity Biotech plc (NASDAQ:TRIB) Sees Significant Drop in Short Interest

Trinity Biotech plc (NASDAQ:TRIB) saw a large drop in short interest in May. As of May 15th, there was short interest totalling 58,300 shares, a drop of 44.1% from the April 30th total of 104,300 shares. Based on an average daily volume of 61,100 shares, the short-interest ratio is currently 1.0 days. Currently, 0.3% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen began coverage on shares of Trinity Biotech in a report on Saturday, May 17th. They issued a “sell” rating on the stock.

Institutional Investors Weigh In On Trinity Biotech

A hedge fund recently raised its stake in Trinity Biotech stock. Hunter Associates Investment Management LLC grew its stake in shares of Trinity Biotech plc (NASDAQ:TRIB) by 5.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 378,590 shares of the company’s stock after purchasing an additional 18,780 shares during the period. Hunter Associates Investment Management LLC’s holdings in Trinity Biotech were worth $334,000 as of its most recent SEC filing. Institutional investors own 78.97% of the company’s stock.

Trinity Biotech Stock Performance

Trinity Biotech stock opened at $0.63 on Monday. The firm has a market cap of $11.43 million, a price-to-earnings ratio of -0.28 and a beta of 0.86. Trinity Biotech has a 1 year low of $0.48 and a 1 year high of $3.55. The firm’s 50 day moving average price is $0.67 and its two-hundred day moving average price is $0.80.

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.