Trinity Biotech (NASDAQ:TRIB) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Trinity Biotech (NASDAQ:TRIB) in a research note published on Tuesday. The brokerage issued a buy rating on the stock.

Trinity Biotech Trading Down 4.8 %

NASDAQ:TRIB opened at $1.79 on Tuesday. The company has a 50 day simple moving average of $2.09 and a two-hundred day simple moving average of $2.28. The company has a market cap of $13.64 million, a PE ratio of -0.56 and a beta of 1.21. Trinity Biotech has a 12 month low of $1.79 and a 12 month high of $6.20.

Trinity Biotech (NASDAQ:TRIB) last announced its earnings results on Wednesday, January 31st. The company reported ($0.90) earnings per share (EPS) for the quarter. The business had revenue of $14.68 million during the quarter. Research analysts forecast that Trinity Biotech will post -1.5 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of TRIB. Atria Wealth Solutions Inc. purchased a new position in Trinity Biotech during the first quarter valued at $27,000. Virtu Financial LLC bought a new stake in Trinity Biotech during the 1st quarter worth approximately $40,000. Whitefort Capital Management LP lifted its holdings in Trinity Biotech by 1,067.8% during the first quarter. Whitefort Capital Management LP now owns 409,517 shares of the company’s stock valued at $434,000 after purchasing an additional 374,449 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Trinity Biotech by 2.4% in the second quarter. Renaissance Technologies LLC now owns 1,503,336 shares of the company’s stock worth $1,842,000 after purchasing an additional 34,900 shares in the last quarter. Hedge funds and other institutional investors own 78.97% of the company’s stock.

About Trinity Biotech

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