Short Interest in Trinity Biotech plc (NASDAQ:TRIB) Declines By 23.1%

Trinity Biotech plc (NASDAQ:TRIB) saw a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 94,100 shares, a drop of 23.1% from the October 15th total of 122,300 shares. Based on an average daily trading volume, of 1,350,000 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.9% of the company’s shares are short sold.

Trinity Biotech Trading Down 7.4 %

Shares of NASDAQ:TRIB opened at $1.37 on Friday. The firm has a fifty day moving average price of $1.57 and a 200 day moving average price of $2.02. Trinity Biotech has a 1 year low of $1.05 and a 1 year high of $3.55. The stock has a market capitalization of $10.44 million, a PE ratio of -0.61 and a beta of 1.13.

Trinity Biotech (NASDAQ:TRIB) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.55) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.65) by $0.10. The business had revenue of $15.84 million during the quarter, compared to analyst estimates of $15.75 million. On average, sell-side analysts forecast that Trinity Biotech will post -1.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Trinity Biotech

A hedge fund recently raised its stake in Trinity Biotech stock. Hunter Associates Investment Management LLC boosted its holdings in Trinity Biotech plc (NASDAQ:TRIB) by 7.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 4.72% of Trinity Biotech worth $390,000 at the end of the most recent quarter. 78.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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