Short Interest in Trinity Biotech plc (NASDAQ:TRIB) Decreases By 23.1%

Trinity Biotech plc (NASDAQ:TRIB) was the target of a large decrease in short interest in October. As of October 31st, there was short interest totalling 94,100 shares, a decrease of 23.1% from the October 15th total of 122,300 shares. Approximately 0.9% of the company’s stock are sold short. Based on an average daily trading volume, of 1,350,000 shares, the short-interest ratio is currently 0.1 days.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Trinity Biotech in a research report on Friday, August 30th. They issued a “buy” rating on the stock.

Trinity Biotech Price Performance

Shares of TRIB traded down $0.11 during midday trading on Friday, reaching $1.37. 51,631 shares of the stock were exchanged, compared to its average volume of 440,858. Trinity Biotech has a twelve month low of $1.05 and a twelve month high of $3.55. The company has a market capitalization of $10.44 million, a price-to-earnings ratio of -0.51 and a beta of 1.13. The business’s 50-day moving average price is $1.58 and its 200 day moving average price is $2.03.

Trinity Biotech (NASDAQ:TRIB) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.55) EPS for the quarter, topping the consensus estimate of ($0.65) by $0.10. The firm had revenue of $15.84 million for the quarter, compared to analyst estimates of $15.75 million. As a group, equities research analysts expect that Trinity Biotech will post -1.91 earnings per share for the current fiscal year.

Institutional Trading of Trinity Biotech

A hedge fund recently raised its stake in Trinity Biotech stock. Hunter Associates Investment Management LLC raised its holdings in Trinity Biotech plc (NASDAQ:TRIB) by 7.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 359,810 shares of the company’s stock after purchasing an additional 26,100 shares during the quarter. Hunter Associates Investment Management LLC owned about 4.72% of Trinity Biotech worth $390,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 78.97% of the company’s stock.

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.