Trinity Capital Inc. (NASDAQ:TRIN) Short Interest Down 33.8% in February

Trinity Capital Inc. (NASDAQ:TRIN) saw a significant drop in short interest in February. As of February 28th, there was short interest totalling 1,020,000 shares, a drop of 33.8% from the February 13th total of 1,540,000 shares. Based on an average daily volume of 566,000 shares, the days-to-cover ratio is currently 1.8 days. Approximately 1.7% of the company’s stock are short sold.

Institutional Trading of Trinity Capital

Several hedge funds have recently made changes to their positions in the company. Principal Street Partners LLC bought a new stake in shares of Trinity Capital in the fourth quarter valued at $367,000. Sovereign s Capital Management LLC bought a new stake in shares of Trinity Capital in the fourth quarter valued at $2,157,000. Two Sigma Advisers LP raised its stake in shares of Trinity Capital by 73.7% in the fourth quarter. Two Sigma Advisers LP now owns 198,400 shares of the company’s stock valued at $2,871,000 after buying an additional 84,200 shares during the period. Two Sigma Investments LP raised its stake in shares of Trinity Capital by 19.0% in the fourth quarter. Two Sigma Investments LP now owns 366,702 shares of the company’s stock valued at $5,306,000 after buying an additional 58,457 shares during the period. Finally, Millennium Management LLC raised its stake in shares of Trinity Capital by 21.9% in the fourth quarter. Millennium Management LLC now owns 449,040 shares of the company’s stock valued at $6,498,000 after buying an additional 80,721 shares during the period. 24.62% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Keefe, Bruyette & Woods raised their target price on Trinity Capital from $15.00 to $16.00 and gave the company a “market perform” rating in a report on Thursday, February 27th. Wells Fargo & Company raised their target price on Trinity Capital from $13.00 to $14.00 and gave the company an “underweight” rating in a report on Friday, February 28th.

Trinity Capital Stock Performance

Shares of Trinity Capital stock opened at $15.83 on Friday. The business’s fifty day simple moving average is $15.44 and its 200 day simple moving average is $14.56. The firm has a market capitalization of $994.61 million, a P/E ratio of 9.26 and a beta of 0.54. Trinity Capital has a 12 month low of $13.05 and a 12 month high of $16.82. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.07.

Trinity Capital (NASDAQ:TRIN) last issued its earnings results on Wednesday, February 26th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.03. The firm had revenue of $70.83 million for the quarter, compared to analyst estimates of $64.13 million. Trinity Capital had a return on equity of 15.90% and a net margin of 40.73%. As a group, analysts anticipate that Trinity Capital will post 2.06 EPS for the current year.

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.