Short Interest in Trinity Biotech plc (NASDAQ:TRIB) Drops By 33.5%

Trinity Biotech plc (NASDAQ:TRIB) was the target of a large decrease in short interest in the month of February. As of February 15th, there was short interest totalling 396,900 shares, a decrease of 33.5% from the January 31st total of 596,800 shares. Currently, 3.6% of the company’s stock are short sold. Based on an average daily trading volume, of 2,090,000 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Investors Weigh In On Trinity Biotech

An institutional investor recently raised its position in Trinity Biotech stock. Hunter Associates Investment Management LLC grew its stake in shares of Trinity Biotech plc (NASDAQ:TRIB) by 5.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 378,590 shares of the company’s stock after purchasing 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 SEC. 78.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Trinity Biotech in a report on Wednesday, February 26th. They set a “hold” rating for the company.

Trinity Biotech Trading Down 4.8 %

Shares of TRIB stock opened at $0.70 on Tuesday. Trinity Biotech has a 12 month low of $0.66 and a 12 month high of $3.55. The firm has a market capitalization of $12.56 million, a PE ratio of -0.31 and a beta of 1.03. The firm has a fifty day simple moving average of $0.84 and a two-hundred day simple moving average of $1.27.

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.