Trinity Biotech plc (NASDAQ:TRIB) Sees Large Drop in Short Interest

Trinity Biotech plc (NASDAQ:TRIB) was the target of a significant decrease in short interest during the month of September. As of September 15th, there was short interest totalling 89,700 shares, a decrease of 57.9% from the August 31st total of 213,200 shares. Based on an average daily volume of 1,280,000 shares, the short-interest ratio is currently 0.1 days. Currently, 0.8% of the shares of the stock are sold short.

Trinity Biotech Stock Down 5.2 %

Shares of Trinity Biotech stock opened at $1.09 on Friday. Trinity Biotech has a 12-month low of $1.09 and a 12-month high of $3.75. The firm has a market capitalization of $8.31 million, a PE ratio of -0.40 and a beta of 1.22. The stock’s fifty day moving average is $2.21 and its 200-day moving average is $2.12.

Trinity Biotech (NASDAQ:TRIB) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.55) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.65) by $0.10. The company had revenue of $15.84 million for the quarter, compared to analyst estimates of $15.75 million. Analysts expect that Trinity Biotech will post -1.91 EPS for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Trinity Biotech in a research report on Friday, August 30th. They issued a “buy” rating on the stock.

About Trinity Biotech

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