Trinity Capital (NASDAQ:TRIN) PT Raised to $13.00

Trinity Capital (NASDAQ:TRIN – Get Rating) had its price target boosted by investment analysts at B. Riley from $12.00 to $13.00 in a research report issued on Tuesday, The Fly reports. B. Riley’s target price points to a potential upside of 2.44% from the stock’s previous close. B. Riley also issued estimates for Trinity Capital’s Q4 2022 earnings at $0.48 EPS, Q1 2023 earnings at $0.54 EPS and Q3 2023 earnings at $0.55 EPS.

A number of other research firms also recently commented on TRIN. Susquehanna downgraded Trinity Capital from a “positive” rating to a “neutral” rating and set a $30.00 price objective on the stock. in a report on Monday, November 7th. Keefe, Bruyette & Woods downgraded Trinity Capital from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $16.00 to $12.50 in a report on Friday, November 4th. Wells Fargo & Company dropped their price objective on Trinity Capital from $13.00 to $10.00 and set an “equal weight” rating on the stock in a report on Monday, November 7th. Finally, Compass Point downgraded Trinity Capital from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $18.00 to $12.75 in a report on Thursday, October 27th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Trinity Capital has a consensus rating of “Hold” and a consensus price target of $15.65.

Trinity Capital Price Performance

Shares of TRIN opened at $12.69 on Tuesday. The company has a market capitalization of $446.31 million, a price-to-earnings ratio of 14.26 and a beta of 0.42. Trinity Capital has a fifty-two week low of $10.23 and a fifty-two week high of $20.26. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.10 and a quick ratio of 0.10. The business’s 50-day moving average is $11.15 and its 200-day moving average is $13.05.

Trinity Capital (NASDAQ:TRIN – Get Rating) last issued its earnings results on Thursday, November 3rd. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. The company had revenue of $38.69 million for the quarter, compared to the consensus estimate of $36.39 million. Trinity Capital had a return on equity of 13.37% and a net margin of 20.63%. Equities research analysts expect that Trinity Capital will post 2.12 EPS for the current fiscal year.

Insider Buying and Selling at Trinity Capital

In related news, CEO Steve Louis Brown purchased 6,800 shares of the stock in a transaction on Thursday, December 8th. The shares were bought at an average price of $10.52 per share, for a total transaction of $71,536.00. Following the completion of the acquisition, the chief executive officer now directly owns 446,346 shares in the company, valued at approximately $4,695,559.92. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Trinity Capital news, CEO Steve Louis Brown acquired 6,800 shares of Trinity Capital stock in a transaction dated Thursday, December 8th. The stock was bought at an average cost of $10.52 per share, with a total value of $71,536.00. Following the completion of the transaction, the chief executive officer now owns 446,346 shares of the company’s stock, valued at $4,695,559.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kyle Steven Brown acquired 23,000 shares of Trinity Capital stock in a transaction dated Thursday, December 8th. The stock was acquired at an average cost of $10.38 per share, with a total value of $238,740.00. Following the completion of the transaction, the insider now directly owns 42,494 shares of the company’s stock, valued at approximately $441,087.72. The disclosure for this purchase can be found here. Insiders have purchased a total of 41,225 shares of company stock worth $430,590 over the last 90 days. Insiders own 6.90% of the company’s stock.

Institutional Investors Weigh In On Trinity Capital

Several hedge funds have recently modified their holdings of TRIN. Ronald Blue Trust Inc. bought a new position in Trinity Capital in the second quarter worth $15,239,000. BlackRock Inc. lifted its position in Trinity Capital by 290.0% in the third quarter. BlackRock Inc. now owns 207,104 shares of the company’s stock worth $2,595,000 after purchasing an additional 154,005 shares during the period. Millennium Management LLC lifted its position in Trinity Capital by 888.1% in the second quarter. Millennium Management LLC now owns 171,143 shares of the company’s stock worth $2,476,000 after purchasing an additional 153,823 shares during the period. Walleye Capital LLC bought a new position in Trinity Capital in the second quarter worth $1,693,000. Finally, Captrust Financial Advisors bought a new position in Trinity Capital in the second quarter worth $1,298,000. 26.95% of the stock is owned by institutional investors.

About Trinity Capital

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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 Lutherville-Timonium, Maryland, San Diego, California and Austin, Texas.