Trinity Capital (NASDAQ:TRIN) Reaches New 52-Week High – Time to Buy?

Trinity Capital Inc. (NASDAQ:TRIN) reached a new 52-week high on Thursday . The company traded as high as $16.00 and last traded at $15.98, with a volume of 1144933 shares trading hands. The stock had previously closed at $15.48.

Wall Street Analysts Forecast Growth

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

Trinity Capital Price Performance

The firm has a market cap of $941.38 million, a P/E ratio of 9.35 and a beta of 0.56. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.05 and a quick ratio of 0.05. The company’s 50-day moving average is $14.65 and its two-hundred day moving average is $14.25.

Trinity Capital Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 12.77%. Trinity Capital’s dividend payout ratio is 119.30%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC increased its stake in shares of Trinity Capital by 527.8% in the 2nd quarter. Millennium Management LLC now owns 252,587 shares of the company’s stock valued at $3,572,000 after purchasing an additional 212,353 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Trinity Capital in the second quarter valued at about $386,000. Cornerstone Wealth Management LLC grew its position 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 acquiring an additional 1,983 shares during the last quarter. Blue Trust Inc. grew its position in Trinity Capital by 522.1% in the third quarter. Blue Trust Inc. now owns 7,714 shares of the company’s stock valued at $109,000 after acquiring an additional 6,474 shares during the last quarter. Finally, Private Advisor Group LLC raised its stake in Trinity Capital by 26.2% during the third quarter. Private Advisor Group LLC now owns 18,409 shares of the company’s stock worth $250,000 after acquiring an additional 3,819 shares in the last quarter. 24.62% of the stock is currently owned by institutional investors and hedge funds.

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.