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

Trinity Capital Inc. (NASDAQ:TRIN) saw a significant decline in short interest in February. As of February 28th, there was short interest totalling 1,020,000 shares, a decline 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 presently 1.8 days. Currently, 1.7% of the shares of the company are sold short.

Trinity Capital Price Performance

Trinity Capital stock opened at $15.83 on Friday. Trinity Capital has a 52 week low of $13.05 and a 52 week high of $16.82. The business has a 50-day simple moving average of $15.44 and a 200 day simple moving average of $14.56. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.07. The stock has a market cap of $994.61 million, a price-to-earnings ratio of 9.26 and a beta of 0.54.

Trinity Capital (NASDAQ:TRIN) last posted its earnings results on Wednesday, February 26th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.53 by $0.03. Trinity Capital had a return on equity of 15.90% and a net margin of 40.73%. The business had revenue of $70.83 million during the quarter, compared to analysts’ expectations of $64.13 million. On average, research analysts forecast that Trinity Capital will post 2.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Trinity Capital

A number of hedge funds and other institutional investors have recently modified their holdings of TRIN. Principal Street Partners LLC bought a new position in shares of Trinity Capital during the 4th quarter valued at about $367,000. Sovereign s Capital Management LLC bought a new position in shares of Trinity Capital during the 4th quarter valued at about $2,157,000. Two Sigma Advisers LP increased its position in shares of Trinity Capital by 73.7% during the 4th quarter. Two Sigma Advisers LP now owns 198,400 shares of the company’s stock valued at $2,871,000 after purchasing an additional 84,200 shares during the last quarter. Two Sigma Investments LP increased its position in shares of Trinity Capital by 19.0% during the 4th quarter. Two Sigma Investments LP now owns 366,702 shares of the company’s stock valued at $5,306,000 after purchasing an additional 58,457 shares during the last quarter. Finally, Millennium Management LLC increased its position in shares of Trinity Capital by 21.9% during the 4th quarter. Millennium Management LLC now owns 449,040 shares of the company’s stock valued at $6,498,000 after purchasing an additional 80,721 shares during the last quarter. 24.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.