Trinity Biotech plc (NASDAQ:TRIB) Short Interest Down 23.1% in October

Trinity Biotech plc (NASDAQ:TRIB) was the recipient 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. Based on an average daily volume of 1,350,000 shares, the short-interest ratio is currently 0.1 days. Approximately 0.9% of the company’s stock are sold short.

Trinity Biotech Price Performance

Shares of TRIB stock opened at $1.37 on Friday. Trinity Biotech has a one year low of $1.05 and a one year high of $3.55. The stock has a market cap of $10.44 million, a P/E ratio of -0.61 and a beta of 1.13. The company has a fifty day moving average price of $1.57 and a two-hundred day moving average price of $2.02.

Trinity Biotech (NASDAQ:TRIB) last announced its 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 company had revenue of $15.84 million for the quarter, compared to the consensus estimate of $15.75 million. As a group, equities research analysts anticipate that Trinity Biotech will post -1.91 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Trinity Biotech in a research report on Friday, August 30th. They set a “buy” rating for the company.

Institutional Trading of Trinity Biotech

A hedge fund recently raised its stake in Trinity Biotech stock. Hunter Associates Investment Management LLC grew its stake in shares of Trinity Biotech plc (NASDAQ:TRIB) by 7.8% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 359,810 shares of the company’s stock after acquiring 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 SEC filing. Institutional investors and hedge funds own 78.97% of the company’s stock.

Trinity Biotech Company Profile

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.