Trinity Capital (NASDAQ:TRIN) Reaches New 1-Year Low - Here's Why

Trinity Capital Inc. (NASDAQ:TRIN - Get Free Report)'s stock price hit a new 52-week low during trading on Monday . The company traded as low as $13.24 and last traded at $13.26, with a volume of 103793 shares. The stock had previously closed at $13.35.

Analysts Set New Price Targets

Separately, Wells Fargo & Company lowered their target price on shares of Trinity Capital from $14.00 to $13.00 and set an "equal weight" rating for the company in a research note on Tuesday, October 29th.

Trinity Capital Trading Up 2.2 %

The firm has a market capitalization of $805.25 million, a PE ratio of 7.99 and a beta of 0.55. The firm's fifty day moving average is $13.83 and its two-hundred day moving average is $14.30. 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 - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.02). The business had revenue of $54.64 million during the quarter, compared to the consensus estimate of $53.17 million. Trinity Capital had a net margin of 40.73% and a return on equity of 15.90%. During the same period last year, the firm earned $0.58 EPS. On average, equities analysts predict that Trinity Capital Inc. will post 2.09 EPS for the current fiscal year.

Trinity Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 14.92%. The ex-dividend date was Monday, September 30th. Trinity Capital's payout ratio is 119.30%.

Insider Transactions at Trinity Capital

In other Trinity Capital news, CEO Kyle Steven Brown acquired 3,500 shares of the business's stock in a transaction dated Tuesday, August 13th. The stock was bought at an average price of $14.15 per share, with a total value of $49,525.00. Following the purchase, the chief executive officer now owns 975,298 shares of the company's stock, valued at approximately $13,800,466.70. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Kyle Steven Brown purchased 3,500 shares of the company's stock in a transaction on Tuesday, August 13th. The stock was acquired at an average price of $14.15 per share, with a total value of $49,525.00. Following the transaction, the chief executive officer now directly owns 975,298 shares of the company's stock, valued at approximately $13,800,466.70. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Steve Louis Brown purchased 19,350 shares of the company's stock in a transaction on Monday, November 4th. The shares were purchased at an average cost of $13.12 per share, with a total value of $253,872.00. Following the transaction, the chairman now directly owns 722,182 shares in the company, valued at $9,475,027.84. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 35,299 shares of company stock valued at $471,608 in the last quarter. Insiders own 6.38% of the company's stock.

Institutional Investors Weigh In On Trinity Capital

Several institutional investors and hedge funds have recently modified their holdings of TRIN. Van ECK Associates Corp lifted its position in shares of Trinity Capital by 24.9% in the 2nd quarter. Van ECK Associates Corp now owns 1,138,185 shares of the company's stock worth $16,093,000 after purchasing an additional 226,919 shares during the period. Millennium Management LLC boosted its stake in Trinity Capital by 527.8% during the second quarter. Millennium Management LLC now owns 252,587 shares of the company's stock worth $3,572,000 after acquiring an additional 212,353 shares in the last quarter. Kennedy Capital Management LLC bought a new stake in Trinity Capital during the first quarter worth about $2,022,000. Legacy Capital Wealth Partners LLC purchased a new stake in Trinity Capital in the second quarter worth about $1,446,000. Finally, Emerald Advisers LLC increased its stake in shares of Trinity Capital by 11.3% during the third quarter. Emerald Advisers LLC now owns 804,942 shares of the company's stock valued at $10,923,000 after purchasing an additional 82,001 shares in the last quarter. 24.62% of the stock is owned by hedge funds and other institutional investors.

Trinity Capital Company Profile

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.