Trinity Capital’s (TRIN) Underweight Rating Reaffirmed at Wells Fargo & Company

Trinity Capital (NASDAQ:TRIN)‘s stock had its “underweight” rating reaffirmed by stock analysts at Wells Fargo & Company in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $13.00 target price on the stock. Wells Fargo & Company‘s price target would suggest a potential downside of 11.38% from the stock’s previous close.

Trinity Capital Stock Performance

Trinity Capital stock opened at $14.67 on Monday. The business has a 50 day moving average of $13.93 and a 200-day moving average of $14.23. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.05 and a quick ratio of 0.05. Trinity Capital has a 1 year low of $13.05 and a 1 year high of $15.44. The company has a market capitalization of $864.21 million, a P/E ratio of 8.58 and a beta of 0.55.

Insider Transactions at Trinity Capital

In other news, Chairman Steve Louis Brown acquired 19,350 shares of Trinity Capital stock in a transaction dated Monday, November 4th. The shares were bought at an average cost of $13.12 per share, with a total value of $253,872.00. Following the purchase, the chairman now owns 722,182 shares in the company, valued at $9,475,027.84. This trade represents a 2.75 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Kyle Steven Brown bought 7,562 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average price of $13.39 per share, for a total transaction of $101,255.18. Following the acquisition, the chief executive officer now owns 964,832 shares of the company’s stock, valued at $12,919,100.48. This trade represents a 0.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 29,702 shares of company stock worth $392,696 over the last ninety days. 6.38% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp increased its holdings in Trinity Capital by 24.9% in the second quarter. Van ECK Associates Corp now owns 1,138,185 shares of the company’s stock worth $16,093,000 after purchasing an additional 226,919 shares in the last quarter. Millennium Management LLC lifted its position in shares of Trinity Capital by 527.8% during the 2nd quarter. Millennium Management LLC now owns 252,587 shares of the company’s stock valued at $3,572,000 after acquiring an additional 212,353 shares during the period. Legacy Capital Wealth Partners LLC bought a new position in Trinity Capital during the second quarter worth $1,446,000. Emerald Advisers LLC increased its stake in Trinity Capital by 11.3% in the third quarter. Emerald Advisers LLC now owns 804,942 shares of the company’s stock valued at $10,923,000 after purchasing an additional 82,001 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its holdings in shares of Trinity Capital by 37.7% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 201,509 shares of the company’s stock valued at $2,734,000 after purchasing an additional 55,131 shares during the period. 24.62% of the stock is owned by institutional investors.

About Trinity Capital

Trinity Capital Inc is a business development company. It is a venture capital firm specializing in venture debt to growth stage companies looking for loans and/or equipment financing. Trinity Capital Inc was founded in 2019 is based in Phoenix, Arizona with additional offices in the United States.