Trinity Capital Inc. (NASDAQ:TRIN) Short Interest Update

Trinity Capital Inc. (NASDAQ:TRIN) saw a large increase in short interest in the month of June. As of June 30th, there was short interest totalling 1,460,000 shares, an increase of 31.5% from the June 15th total of 1,110,000 shares. Based on an average daily volume of 421,000 shares, the days-to-cover ratio is presently 3.5 days. Currently, 3.2% of the shares of the company are sold short.

Analyst Ratings Changes

Several analysts have issued reports on the company. UBS Group boosted their price target on Trinity Capital from $16.00 to $16.50 and gave the company a “buy” rating in a report on Monday, March 18th. B. Riley cut their price objective on Trinity Capital from $16.50 to $16.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Trinity Capital has a consensus rating of “Moderate Buy” and an average target price of $15.60.

Hedge Funds Weigh In On Trinity Capital

Hedge funds have recently modified their holdings of the stock. CWM LLC increased its holdings in Trinity Capital by 1,736,100.0% in the 2nd quarter. CWM LLC now owns 17,362 shares of the company’s stock valued at $245,000 after acquiring an additional 17,361 shares during the last quarter. First Financial Bank Trust Division purchased a new position in shares of Trinity Capital during the second quarter valued at about $517,000. Confluence Investment Management LLC increased its holdings in shares of Trinity Capital by 1.3% in the second quarter. Confluence Investment Management LLC now owns 57,651 shares of the company’s stock worth $815,000 after purchasing an additional 758 shares during the last quarter. Cetera Advisors LLC purchased a new stake in shares of Trinity Capital in the first quarter worth about $543,000. Finally, Virtu Financial LLC purchased a new stake in shares of Trinity Capital in the first quarter worth about $212,000. Hedge funds and other institutional investors own 24.62% of the company’s stock.

Trinity Capital Trading Up 1.6 %

Shares of TRIN stock opened at $14.30 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.06 and a current ratio of 0.06. The stock has a fifty day simple moving average of $14.70 and a two-hundred day simple moving average of $14.56. The firm has a market capitalization of $707.56 million, a PE ratio of 8.88 and a beta of 0.56. Trinity Capital has a 52-week low of $13.21 and a 52-week high of $15.44.

Trinity Capital (NASDAQ:TRIN) last released its earnings results on Wednesday, May 1st. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.03). The business had revenue of $50.45 million for the quarter, compared to analysts’ expectations of $50.09 million. Trinity Capital had a return on equity of 16.73% and a net margin of 36.12%. During the same quarter in the prior year, the business posted $0.52 EPS. On average, analysts predict that Trinity Capital will post 2.14 EPS for the current fiscal year.

Trinity Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 14.27%. The ex-dividend date of this dividend is Friday, June 28th. Trinity Capital’s payout ratio is currently 126.71%.

About Trinity Capital

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.