Trinity Capital Inc. (NASDAQ:TRIN) Short Interest Down 33.8% in February

Trinity Capital Inc. (NASDAQ:TRIN) was the target of a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 1,020,000 shares, a drop of 33.8% from the February 13th total of 1,540,000 shares. Approximately 1.7% of the company’s stock are short sold. Based on an average daily trading volume, of 566,000 shares, the short-interest ratio is presently 1.8 days.

Wall Street Analysts Forecast Growth

TRIN has been the subject of several research analyst reports. Wells Fargo & Company raised their price objective on shares of Trinity Capital from $13.00 to $14.00 and gave the stock an “underweight” rating in a report on Friday, February 28th. Keefe, Bruyette & Woods raised their price objective on shares of Trinity Capital from $15.00 to $16.00 and gave the stock a “market perform” rating in a report on Thursday, February 27th.

Hedge Funds Weigh In On Trinity Capital

A number of hedge funds have recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its holdings in Trinity Capital by 6.8% in the 4th quarter. Van ECK Associates Corp now owns 1,389,788 shares of the company’s stock worth $20,110,000 after acquiring an additional 88,698 shares during the last quarter. Melia Wealth LLC raised its holdings in Trinity Capital by 3.0% in the 4th quarter. Melia Wealth LLC now owns 1,096,969 shares of the company’s stock worth $15,873,000 after acquiring an additional 32,107 shares during the last quarter. Rockefeller Capital Management L.P. raised its holdings in Trinity Capital by 9.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 843,849 shares of the company’s stock worth $12,211,000 after acquiring an additional 71,633 shares during the last quarter. Ares Management LLC raised its holdings in Trinity Capital by 25.0% in the 4th quarter. Ares Management LLC now owns 549,839 shares of the company’s stock worth $7,956,000 after acquiring an additional 109,839 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in Trinity Capital by 21.9% in the 4th quarter. Millennium Management LLC now owns 449,040 shares of the company’s stock worth $6,498,000 after acquiring an additional 80,721 shares during the last quarter. 24.62% of the stock is currently owned by hedge funds and other institutional investors.

Trinity Capital Stock Performance

Shares of TRIN opened at $15.83 on Monday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.07. The business’s 50 day moving average price is $15.44 and its 200-day moving average price is $14.57. Trinity Capital has a 52 week low of $13.05 and a 52 week high of $16.82. The stock has a market cap of $994.61 million, a P/E ratio of 9.26 and a beta of 0.54.

Trinity Capital (NASDAQ:TRIN) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.03. Trinity Capital had a return on equity of 15.90% and a net margin of 40.73%. The firm had revenue of $70.83 million for the quarter, compared to analysts’ expectations of $64.13 million. Equities research analysts anticipate that Trinity Capital will post 2.06 earnings per share for the current fiscal year.

Trinity Capital Company Profile

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.