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

Trinity Capital Inc. (NASDAQ:TRIN - Get Free Report) was the recipient of a large growth in short interest in January. As of January 15th, there was short interest totalling 1,610,000 shares, a growth of 21.1% from the December 31st total of 1,330,000 shares. Currently, 2.9% of the company's stock are sold short. Based on an average daily trading volume, of 538,800 shares, the days-to-cover ratio is presently 3.0 days.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company reaffirmed an "underweight" rating and set a $13.00 price objective on shares of Trinity Capital in a research report on Monday, December 2nd.

Trinity Capital Stock Performance

Shares of NASDAQ:TRIN traded up $0.51 on Wednesday, hitting $15.99. 979,675 shares of the company were exchanged, compared to its average volume of 554,222. The company's 50 day moving average price is $14.62 and its two-hundred day moving average price is $14.23. Trinity Capital has a one year low of $13.05 and a one year high of $15.98. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.05 and a current ratio of 0.05. The firm has a market capitalization of $941.68 million, a price-to-earnings ratio of 9.34 and a beta of 0.56.

Trinity Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.51 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $2.04 dividend on an annualized basis and a yield of 12.76%. Trinity Capital's dividend payout ratio (DPR) is presently 119.30%.

Hedge Funds Weigh In On Trinity Capital

A number of institutional investors have recently modified their holdings of the stock. AWM Capital LLC raised its stake in shares of Trinity Capital by 8.8% during the fourth quarter. AWM Capital LLC now owns 50,643 shares of the company's stock worth $759,000 after buying an additional 4,108 shares during the last quarter. Oppenheimer & Co. Inc. increased its stake in Trinity Capital by 11.4% in the fourth quarter. Oppenheimer & Co. Inc. now owns 13,852 shares of the company's stock valued at $200,000 after purchasing an additional 1,423 shares in the last quarter. GraniteShares Advisors LLC bought a new stake in Trinity Capital in the fourth quarter valued at approximately $2,469,000. Canton Hathaway LLC bought a new stake in Trinity Capital in the fourth quarter valued at approximately $397,000. Finally, Y Intercept Hong Kong Ltd increased its stake in Trinity Capital by 151.9% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 31,717 shares of the company's stock valued at $459,000 after purchasing an additional 19,125 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.