Trinity Biotech plc (NASDAQ:TRIB) Sees Large Decline in Short Interest

Trinity Biotech plc (NASDAQ:TRIB) was the recipient of a significant decline in short interest during the month of January. As of January 15th, there was short interest totalling 29,100 shares, a decline of 50.3% from the December 31st total of 58,500 shares. Currently, 0.3% of the company’s stock are sold short. Based on an average trading volume of 207,300 shares, the days-to-cover ratio is presently 0.1 days.

Trinity Biotech Price Performance

Shares of TRIB stock traded down $0.03 during trading on Friday, reaching $0.90. The company had a trading volume of 439,015 shares, compared to its average volume of 6,336,626. The company has a market capitalization of $10.06 million, a PE ratio of -0.40 and a beta of 1.01. The firm’s 50 day simple moving average is $0.93 and its two-hundred day simple moving average is $1.61. Trinity Biotech has a one year low of $0.74 and a one year high of $3.55.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on Trinity Biotech in a report on Wednesday. They set a “hold” rating on the stock.

Institutional Trading of Trinity Biotech

An institutional investor recently raised its position in Trinity Biotech stock. Hunter Associates Investment Management LLC boosted its position in shares of Trinity Biotech plc (NASDAQ:TRIB) by 7.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 359,810 shares of the company’s stock after acquiring an additional 26,100 shares during the period. Hunter Associates Investment Management LLC owned 4.72% of Trinity Biotech worth $390,000 at the end of the most recent quarter. 78.97% of the stock is currently owned by institutional investors.

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.