Trinity Biotech plc (NASDAQ:TRIB) Sees Significant Growth in Short Interest

Trinity Biotech plc (NASDAQ:TRIB) was the target of a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 58,400 shares, a growth of 100.7% from the December 31st total of 29,100 shares. Based on an average daily volume of 190,700 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.5% of the shares of the stock are short sold.

Hedge Funds Weigh In On Trinity Biotech

An institutional investor recently raised its position in Trinity Biotech stock. Hunter Associates Investment Management LLC raised its position in Trinity Biotech plc (NASDAQ:TRIB) by 5.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 378,590 shares of the company’s stock after purchasing an additional 18,780 shares during the quarter. Hunter Associates Investment Management LLC’s holdings in Trinity Biotech were worth $334,000 at the end of the most recent quarter. 78.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of Trinity Biotech in a research note on Wednesday. They set a “hold” rating for the company.

Trinity Biotech Stock Down 2.7 %

Shares of NASDAQ:TRIB traded down $0.03 during midday trading on Friday, reaching $0.90. The company’s stock had a trading volume of 439,015 shares, compared to its average volume of 6,336,626. Trinity Biotech has a 1 year low of $0.74 and a 1 year high of $3.55. The business has a 50 day moving average price of $0.93 and a 200 day moving average price of $1.61. The firm has a market cap of $10.06 million, a price-to-earnings ratio of -0.40 and a beta of 1.01.

About Trinity Biotech

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.