Trinity Capital (NASDAQ:TRIN) Sets New 52-Week High – Here’s Why

Trinity Capital Inc. (NASDAQ:TRIN)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as $16.15 and last traded at $16.12, with a volume of 266886 shares changing hands. The stock had previously closed at $16.00.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company reaffirmed an “underweight” rating and set a $13.00 target price on shares of Trinity Capital in a research report on Monday, December 2nd.

Trinity Capital Stock Performance

The firm has a fifty day simple moving average of $14.92 and a 200 day simple moving average of $14.33. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.07. The stock has a market cap of $954.93 million, a price-to-earnings ratio of 9.48 and a beta of 0.56.

Trinity Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.51 per share. The ex-dividend date was Tuesday, December 31st. This represents a $2.04 dividend on an annualized basis and a yield of 12.58%. Trinity Capital’s dividend payout ratio is currently 119.30%.

Hedge Funds Weigh In On Trinity Capital

Hedge funds have recently made changes to their positions in the business. Quarry LP increased its stake in Trinity Capital by 1,053.0% in the third quarter. Quarry LP now owns 3,701 shares of the company’s stock valued at $50,000 after acquiring an additional 3,380 shares during the period. McIlrath & Eck LLC acquired a new stake in Trinity Capital during the third quarter valued at approximately $57,000. Trust Co. of Vermont bought a new stake in shares of Trinity Capital in the 4th quarter valued at approximately $101,000. Blue Trust Inc. raised its holdings in shares of Trinity Capital by 522.1% in the 3rd quarter. Blue Trust Inc. now owns 7,714 shares of the company’s stock worth $109,000 after buying an additional 6,474 shares in the last quarter. Finally, Aquatic Capital Management LLC bought a new position in shares of Trinity Capital during the 4th quarter worth approximately $124,000. Institutional investors and hedge funds own 24.62% of the company’s stock.

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.