Trinity Capital (NASDAQ:TRIN) Reaches New 12-Month Low – What’s Next?

Shares of Trinity Capital Inc. (NASDAQ:TRIN) reached a new 52-week low on Monday . The company traded as low as $12.50 and last traded at $13.19, with a volume of 637759 shares trading hands. The stock had previously closed at $14.30.

Analyst Ratings Changes

Several equities research analysts have commented on TRIN shares. Wells Fargo & Company boosted their target price on 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 increased their target price on Trinity Capital from $15.00 to $16.00 and gave the company a “market perform” rating in a research note on Thursday, February 27th.

Trinity Capital Price Performance

The stock has a market capitalization of $840.36 million, a P/E ratio of 7.85 and a beta of 0.56. The business’s 50 day moving average price is $15.80 and its 200 day moving average price is $14.76. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.05 and a quick ratio of 0.05.

Trinity Capital (NASDAQ:TRIN) last released its quarterly earnings results on Wednesday, February 26th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.03. The firm had revenue of $70.83 million for the quarter, compared to the consensus estimate of $64.13 million. Trinity Capital had a return on equity of 15.90% and a net margin of 40.73%. Sell-side analysts forecast that Trinity Capital Inc. will post 2.06 EPS for the current year.

Trinity Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 15.25%. The ex-dividend date is Monday, March 31st. Trinity Capital’s dividend payout ratio is presently 99.03%.

Hedge Funds Weigh In On Trinity Capital

Institutional investors have recently bought and sold shares of the stock. Quarry LP increased its position in Trinity Capital by 1,053.0% in the third quarter. Quarry LP now owns 3,701 shares of the company’s stock worth $50,000 after buying an additional 3,380 shares in the last quarter. McIlrath & Eck LLC bought a new position in Trinity Capital in the 3rd quarter worth $57,000. Trust Co. of Vermont purchased a new stake in Trinity Capital in the 4th quarter worth $101,000. Aquatic Capital Management LLC bought a new stake in Trinity Capital during the fourth quarter valued at about $124,000. Finally, Blue Trust Inc. lifted its position in shares of Trinity Capital by 27.2% in the fourth quarter. Blue Trust Inc. now owns 9,814 shares of the company’s stock valued at $133,000 after acquiring an additional 2,100 shares in the last quarter. 24.62% of the stock is owned by institutional investors.

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.