Trinity Biotech PLC (NASDAQ:TRIB) Short Interest Update

Trinity Biotech PLC (NASDAQ:TRIB) was the target of a large growth in short interest in June. As of June 30th, there was short interest totaling 1,417,438 shares, a growth of 878.7% from the June 15th total of 144,829 shares. Approximately 43.0% of the company’s stock are short sold. Based on an average trading volume of 6,999,204 shares, the days-to-cover ratio is presently 0.2 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut Trinity Biotech from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, May 8th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

Trinity Biotech Price Performance

Shares of Trinity Biotech stock opened at $0.39 on Friday. The business’s 50 day simple moving average is $0.56 and its 200 day simple moving average is $0.68. Trinity Biotech has a 52-week low of $0.31 and a 52-week high of $3.44.

Trinity Biotech shares are set to reverse split before the market opens on Friday, July 24th. The 1-30 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Thursday, July 23rd.

Trinity Biotech (NASDAQ:TRIB) last released its quarterly earnings results on Tuesday, June 16th. The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.08. The firm had revenue of $10.85 million for the quarter, compared to analyst estimates of $10.68 million.

Institutional Trading of Trinity Biotech

A number of institutional investors have recently made changes to their positions in the business. Citadel Advisors LLC boosted its holdings in Trinity Biotech by 196.1% during the third quarter. Citadel Advisors LLC now owns 39,384 shares of the company’s stock worth $41,000 after purchasing an additional 26,084 shares during the last quarter. Williams & Novak LLC increased its stake in 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 last quarter. Yorkville Advisors Global LP acquired a new stake in Trinity Biotech in the 1st quarter valued at $122,000. Hunter Associates Investment Management LLC lifted its position in Trinity Biotech by 8.1% during the 4th quarter. Hunter Associates Investment Management LLC now owns 526,610 shares of the company’s stock worth $417,000 after buying an additional 39,500 shares in the last quarter. Finally, Perceptive Advisors LLC bought a new stake in Trinity Biotech during the 2nd quarter worth about $1,164,000. Institutional investors own 78.97% of the company’s stock.

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.