Short Interest in Trinity Capital Inc. (NASDAQ:TRIN) Decreases By 33.8%

Trinity Capital Inc. (NASDAQ:TRIN) was the recipient of a large decrease in short interest in February. As of February 28th, there was short interest totalling 1,020,000 shares, a decrease of 33.8% from the February 13th total of 1,540,000 shares. Approximately 1.7% of the shares of the company are sold short. Based on an average daily volume of 566,000 shares, the short-interest ratio is currently 1.8 days.

Trinity Capital Price Performance

Shares of TRIN traded up $0.27 during midday trading on Friday, hitting $15.83. 398,612 shares of the company traded hands, compared to its average volume of 541,587. The firm has a 50 day moving average of $15.42 and a 200-day moving average of $14.55. Trinity Capital has a 52 week low of $13.05 and a 52 week high of $16.82. The stock has a market cap of $994.61 million, a price-to-earnings ratio of 9.26 and a beta of 0.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.05 and a current ratio of 0.05.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Kennedy Capital Management LLC raised its position in shares of Trinity Capital by 0.3% during the 4th quarter. Kennedy Capital Management LLC now owns 220,336 shares of the company’s stock valued at $3,188,000 after buying an additional 676 shares in the last quarter. Cornerstone Wealth Management LLC raised its position in shares of Trinity Capital by 5.7% during the 4th quarter. Cornerstone Wealth Management LLC now owns 24,100 shares of the company’s stock valued at $349,000 after buying an additional 1,302 shares in the last quarter. Oppenheimer & Co. Inc. raised its position in shares of Trinity Capital by 11.4% during the 4th quarter. Oppenheimer & Co. Inc. now owns 13,852 shares of the company’s stock valued at $200,000 after buying an additional 1,423 shares in the last quarter. Corient Private Wealth LLC raised its position in shares of Trinity Capital by 2.0% during the 4th quarter. Corient Private Wealth LLC now owns 80,101 shares of the company’s stock valued at $1,159,000 after buying an additional 1,554 shares in the last quarter. Finally, First Financial Bank Trust Division raised its position in shares of Trinity Capital by 5.0% during the 4th quarter. First Financial Bank Trust Division now owns 38,665 shares of the company’s stock valued at $559,000 after buying an additional 1,838 shares in the last quarter. Institutional investors own 24.62% of the company’s stock.

Wall Street Analyst Weigh In

TRIN has been the subject of several recent analyst reports. Wells Fargo & Company upped their target price on shares of Trinity Capital from $13.00 to $14.00 and gave the stock an “underweight” rating in a report on Friday, February 28th. Keefe, Bruyette & Woods upped their target price on shares of Trinity Capital from $15.00 to $16.00 and gave the stock a “market perform” rating in a report on Thursday, February 27th.

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.