Trinity Capital (NASDAQ:TRIN) Shares Gap Down to $14.54

Trinity Capital Inc. (NASDAQ:TRIN) shares gapped down before the market opened on Friday . The stock had previously closed at $14.54, but opened at $14.14. Trinity Capital shares last traded at $14.20, with a volume of 83,730 shares changing hands.

Analyst Upgrades and Downgrades

TRIN has been the topic of several research reports. B. Riley cut their price target on Trinity Capital from $16.50 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. UBS Group increased their target price on Trinity Capital from $16.00 to $16.50 and gave the stock a “buy” rating in a research note on Monday, March 18th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.50.

Trinity Capital Price Performance

The company has a debt-to-equity ratio of 0.08, a current ratio of 0.06 and a quick ratio of 0.06. The company’s 50-day simple moving average is $14.84 and its 200-day simple moving average is $14.63. The stock has a market capitalization of $699.65 million, a P/E ratio of 8.78 and a beta of 0.57.

Trinity Capital (NASDAQ:TRIN) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). Trinity Capital had a return on equity of 16.73% and a net margin of 36.12%. The firm had revenue of $50.45 million for the quarter, compared to the consensus estimate of $50.09 million. During the same quarter in the prior year, the firm earned $0.52 EPS. As a group, sell-side analysts expect that Trinity Capital Inc. will post 2.14 EPS for the current fiscal year.

Trinity Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.04 dividend on an annualized basis and a yield of 14.43%. Trinity Capital’s payout ratio is 126.71%.

Institutional Trading of Trinity Capital

Several large investors have recently bought and sold shares of the business. Stifel Financial Corp raised its position in Trinity Capital by 7.1% in the third quarter. Stifel Financial Corp now owns 410,402 shares of the company’s stock valued at $5,713,000 after purchasing an additional 27,053 shares during the last quarter. Quadrature Capital Ltd bought a new position in Trinity Capital during the 3rd quarter valued at $1,241,000. Belpointe Asset Management LLC purchased a new position in Trinity Capital during the 3rd quarter worth $155,000. Cornerstone Wealth Management LLC purchased a new stake in shares of Trinity Capital during the 4th quarter valued at $172,000. Finally, SG Americas Securities LLC increased its holdings in Trinity Capital by 62.0% during the fourth quarter. SG Americas Securities LLC now owns 42,284 shares of the company’s stock worth $614,000 after buying an additional 16,190 shares during the last quarter. 24.62% of the stock is owned by institutional investors and hedge funds.

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.