StockNews.com Initiates Coverage on Trinity Biotech (NASDAQ:TRIB)

Investment analysts at StockNews.com began coverage on shares of Trinity Biotech (NASDAQ:TRIB) in a research report issued to clients and investors on Tuesday. The brokerage set a “buy” rating on the stock.

Trinity Biotech Price Performance

Shares of NASDAQ:TRIB opened at $1.91 on Tuesday. The company has a market capitalization of $14.55 million, a price-to-earnings ratio of -0.60 and a beta of 1.21. The business’s 50-day moving average is $2.16 and its 200-day moving average is $2.31. Trinity Biotech has a 1 year low of $1.81 and a 1 year high of $6.20.

Trinity Biotech (NASDAQ:TRIB) last announced its quarterly earnings data on Wednesday, January 31st. The company reported ($0.90) earnings per share (EPS) for the quarter. The firm had revenue of $14.68 million during the quarter. Analysts anticipate that Trinity Biotech will post -1.5 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Atria Wealth Solutions Inc. raised its stake in Trinity Biotech by 38.9% during the 4th quarter. Atria Wealth Solutions Inc. now owns 34,300 shares of the company’s stock worth $34,000 after buying an additional 9,600 shares during the period. Renaissance Technologies LLC raised its stake in Trinity Biotech by 2.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,503,336 shares of the company’s stock worth $1,842,000 after buying an additional 34,900 shares during the period. Virtu Financial LLC acquired a new position in Trinity Biotech during the 1st quarter worth approximately $40,000. Finally, Whitefort Capital Management LP raised its stake in Trinity Biotech by 1,067.8% during the 1st quarter. Whitefort Capital Management LP now owns 409,517 shares of the company’s stock worth $434,000 after buying an additional 374,449 shares during the period. 78.97% of the stock is owned by institutional investors and hedge funds.

Trinity Biotech Company Profile

Trinity Biotech plc acquires, together with its subsidiaries, develops, manufactures, and markets medical diagnostic products for the clinical laboratory and point-of-care (POC) segments of the diagnostic market in the Americas, Africa, Asia, and Europe. The company offers clinical laboratory products, including diagnostic tests and instrumentation, which detect infectious diseases, such as lyme disease; sexually transmitted diseases consisting 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.