Trinity Capital (NASDAQ:TRIN) Given Underweight Rating at Wells Fargo & Company

Trinity Capital (NASDAQ:TRIN)‘s stock had its “underweight” rating restated by research analysts at Wells Fargo & Company in a report released on Monday, MarketBeat.com reports. They presently have a $13.00 price target on the stock. Wells Fargo & Company‘s price objective suggests a potential downside of 9.34% from the stock’s current price.

Trinity Capital Stock Performance

Trinity Capital stock opened at $14.34 on Monday. The firm has a market capitalization of $844.77 million, a PE ratio of 8.41 and a beta of 0.56. Trinity Capital has a one year low of $13.05 and a one year high of $15.44. The stock’s 50 day moving average price is $13.93 and its 200 day moving average price is $14.22. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.05 and a current ratio of 0.05.

Insider Buying and Selling

In other Trinity Capital news, Director Ronald E. Estes acquired 2,000 shares of the stock in a transaction on Friday, November 1st. The stock was purchased at an average price of $13.59 per share, for a total transaction of $27,180.00. Following the purchase, the director now directly owns 25,836 shares in the company, valued at $351,111.24. This trade represents a 8.39 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Steve Louis Brown bought 19,350 shares of the business’s stock in a transaction on Monday, November 4th. The stock was acquired at an average cost of $13.12 per share, for a total transaction of $253,872.00. Following the completion of the transaction, the chairman now owns 722,182 shares in the company, valued at $9,475,027.84. This represents a 2.75 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 29,702 shares of company stock valued at $392,696 in the last quarter. Company insiders own 6.38% of the company’s stock.

Institutional Trading of Trinity Capital

A number of hedge funds and other institutional investors have recently made changes to their positions in TRIN. Wealth Enhancement Advisory Services LLC boosted its stake in Trinity Capital by 9.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 11,173 shares of the company’s stock valued at $152,000 after acquiring an additional 918 shares during the last quarter. PFG Investments LLC lifted its position in shares of Trinity Capital by 12.9% during the third quarter. PFG Investments LLC now owns 12,326 shares of the company’s stock worth $167,000 after purchasing an additional 1,411 shares during the last quarter. State Street Corp grew its stake in Trinity Capital by 3.3% in the third quarter. State Street Corp now owns 61,170 shares of the company’s stock worth $861,000 after purchasing an additional 1,936 shares in the last quarter. Cornerstone Wealth Management LLC increased its holdings in Trinity Capital by 9.5% in the third quarter. Cornerstone Wealth Management LLC now owns 22,798 shares of the company’s stock valued at $309,000 after buying an additional 1,983 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in Trinity Capital during the second quarter valued at approximately $35,000. Institutional investors own 24.62% of the company’s stock.

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.