Trinity Biotech plc (NASDAQ:TRIB) Sees Large Decline in Short Interest

Trinity Biotech plc (NASDAQ:TRIB) was the target of a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 159,300 shares, a drop of 59.9% from the February 13th total of 396,900 shares. Based on an average daily volume of 2,090,000 shares, the short-interest ratio is currently 0.1 days. Currently, 1.5% of the company’s shares are sold short.

Trinity Biotech Trading Down 8.0 %

TRIB stock opened at $0.68 on Thursday. The business’s 50-day moving average price is $0.82 and its two-hundred day moving average price is $1.20. The firm has a market cap of $12.26 million, a PE ratio of -0.30 and a beta of 1.20. Trinity Biotech has a 1-year low of $0.63 and a 1-year high of $3.55.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Trinity Biotech stock. Hunter Associates Investment Management LLC boosted its holdings in shares of Trinity Biotech plc (NASDAQ:TRIB) by 5.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 378,590 shares of the company’s stock after acquiring an additional 18,780 shares during the period. Hunter Associates Investment Management LLC’s holdings in Trinity Biotech were worth $334,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 78.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Trinity Biotech from a “hold” rating to a “sell” rating in a research report on Thursday, March 6th.

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.