Trinity Capital Inc. (NASDAQ:TRIN) Short Interest Update

Trinity Capital Inc. (NASDAQ:TRIN) was the recipient of a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 1,610,000 shares, a growth of 21.1% from the December 31st total of 1,330,000 shares. Currently, 2.9% of the company’s stock are sold short. Based on an average trading volume of 538,800 shares, the days-to-cover ratio is presently 3.0 days.

Trinity Capital Stock Up 1.6 %

NASDAQ TRIN traded up $0.24 during midday trading on Friday, hitting $15.30. 512,881 shares of the company traded hands, compared to its average volume of 489,715. The company has a market cap of $901.32 million, a PE ratio of 8.95 and a beta of 0.55. The company’s 50-day simple moving average is $14.58 and its 200-day simple moving average is $14.21. Trinity Capital has a 52 week low of $13.05 and a 52 week high of $15.38. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.05 and a quick ratio of 0.05.

Trinity Capital (NASDAQ:TRIN) last posted its earnings results on Wednesday, October 30th. The company reported $0.52 earnings per share for the quarter, meeting the consensus estimate of $0.52. The firm had revenue of $61.77 million during the quarter, compared to analyst estimates of $55.82 million. Trinity Capital had a net margin of 40.73% and a return on equity of 15.90%. During the same period in the previous year, the firm earned $0.55 EPS. As a group, equities research analysts forecast that Trinity Capital will post 2.06 earnings per share for the current year.

Trinity Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.51 per share. The ex-dividend date was Tuesday, December 31st. This represents a $2.04 dividend on an annualized basis and a yield of 13.33%. Trinity Capital’s payout ratio is 119.30%.

Insiders Place Their Bets

In other news, Chairman Steve Louis Brown acquired 19,350 shares of the business’s stock in a transaction on Monday, November 4th. The shares were acquired at an average cost of $13.12 per share, with a total value of $253,872.00. Following the transaction, the chairman now owns 722,182 shares in the company, valued at $9,475,027.84. The trade was a 2.75 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 6.38% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TRIN. Quarry LP increased its holdings in Trinity Capital by 1,053.0% during the 3rd quarter. Quarry LP now owns 3,701 shares of the company’s stock worth $50,000 after purchasing an additional 3,380 shares during the period. McIlrath & Eck LLC purchased a new stake in shares of Trinity Capital in the third quarter valued at about $57,000. Trust Co. of Vermont purchased a new position in shares of Trinity Capital in the 4th quarter valued at approximately $101,000. Blue Trust Inc. boosted its holdings in Trinity Capital by 522.1% in the 3rd quarter. Blue Trust Inc. now owns 7,714 shares of the company’s stock valued at $109,000 after purchasing an additional 6,474 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Trinity Capital by 9.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 11,173 shares of the company’s stock worth $152,000 after acquiring an additional 918 shares during the period. Hedge funds and other institutional investors own 24.62% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company reiterated an “underweight” rating and issued a $13.00 price target on shares of Trinity Capital in a research report on Monday, December 2nd.

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.