Trinity Capital (NASDAQ:TRIN) Hits New 12-Month High – What’s Next?

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

Wall Street Analyst Weigh In

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

Trinity Capital Price Performance

The firm has a market cap of $939.03 million, a P/E ratio of 9.32 and a beta of 0.56. The firm’s fifty day simple moving average is $14.71 and its 200 day simple moving average is $14.27. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.05 and a current ratio of 0.05.

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 paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 12.80%. The ex-dividend date was Tuesday, December 31st. Trinity Capital’s payout ratio is presently 119.30%.

Institutional Trading of Trinity Capital

Large investors have recently added to or reduced their stakes in the company. Millennium Management LLC grew its holdings in shares of Trinity Capital by 527.8% in the second 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 in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Trinity Capital in the 2nd quarter worth $386,000. Cornerstone Wealth Management LLC grew its stake in shares of Trinity Capital by 9.5% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 22,798 shares of the company’s stock worth $309,000 after buying an additional 1,983 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Trinity Capital by 522.1% in the 3rd quarter. Blue Trust Inc. now owns 7,714 shares of the company’s stock worth $109,000 after buying an additional 6,474 shares during the last quarter. Finally, Private Advisor Group LLC raised its position in shares of Trinity Capital by 26.2% during the 3rd quarter. Private Advisor Group LLC now owns 18,409 shares of the company’s stock valued at $250,000 after buying an additional 3,819 shares in the last quarter. Institutional investors own 24.62% of the company’s stock.

Trinity Capital Company Profile

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.