Trinity Capital Inc. (NASDAQ:TRIN) Sees Significant Decline in Short Interest

Trinity Capital Inc. (NASDAQ:TRIN - Get Free Report) was the target of a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 1,020,000 shares, a drop of 33.8% from the February 13th total of 1,540,000 shares. Approximately 1.7% of the company's shares are short sold. Based on an average trading volume of 566,000 shares, the short-interest ratio is currently 1.8 days.

Analyst Upgrades and Downgrades

TRIN has been the topic of several recent analyst reports. Keefe, Bruyette & Woods upped their price objective on shares of Trinity Capital from $15.00 to $16.00 and gave the stock a "market perform" rating in a report on Thursday, February 27th. Wells Fargo & Company upped their price target on Trinity Capital from $13.00 to $14.00 and gave the stock an "underweight" rating in a research note on Friday, February 28th.

Hedge Funds Weigh In On Trinity Capital

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP raised 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 buying an additional 3,380 shares in the last quarter. McIlrath & Eck LLC purchased a new position in shares of Trinity Capital in the 3rd quarter valued at approximately $57,000. Trust Co. of Vermont purchased a new position in Trinity Capital in the 4th quarter valued at $101,000. Aquatic Capital Management LLC purchased a new stake in shares of Trinity Capital in the fourth quarter valued at about $124,000. Finally, Blue Trust Inc. boosted its holdings in Trinity Capital by 27.2% in the 4th quarter. Blue Trust Inc. now owns 9,814 shares of the company's stock valued at $133,000 after purchasing an additional 2,100 shares in the last quarter. Hedge funds and other institutional investors own 24.62% of the company's stock.

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Trinity Capital Trading Down 0.7 %

NASDAQ:TRIN traded down $0.11 on Wednesday, reaching $15.96. 451,553 shares of the company's stock were exchanged, compared to its average volume of 502,815. The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of 9.33 and a beta of 0.54. Trinity Capital has a 52-week low of $13.05 and a 52-week high of $16.82. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.07. The business has a fifty day moving average of $15.50 and a 200-day moving average of $14.60.

Trinity Capital (NASDAQ:TRIN - Get Free Report) last announced its earnings results on Wednesday, February 26th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.03. Trinity Capital had a net margin of 40.73% and a return on equity of 15.90%. The firm had revenue of $70.83 million for the quarter, compared to the consensus estimate of $64.13 million. As a group, analysts expect that Trinity Capital will post 2.06 earnings per share for the current year.

Trinity Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 12.78%. Trinity Capital's payout ratio is currently 99.03%.

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.