Trinity Capital (NASDAQ:TRIN) Reaches New 1-Year High - Still a Buy?

Trinity Capital Inc. (NASDAQ:TRIN - Get Free Report) hit a new 52-week high during trading on Friday . The stock traded as high as $15.31 and last traded at $15.34, with a volume of 294931 shares. The stock had previously closed at $15.06.

Wall Street Analysts Forecast Growth

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 Trading Up 1.0 %

The business has a fifty day moving average price of $14.62 and a 200-day moving average price of $14.23. 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 company has a market cap of $911.93 million, a P/E ratio of 9.05 and a beta of 0.56.

Trinity Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 13.18%. The ex-dividend date was Tuesday, December 31st. Trinity Capital's dividend payout ratio is 119.30%.

Institutional Investors Weigh In On Trinity Capital

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP grew its stake in shares of 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 acquiring an additional 3,380 shares in the last quarter. McIlrath & Eck LLC acquired a new position in shares of Trinity Capital during the 3rd quarter worth approximately $57,000. Trust Co. of Vermont acquired a new stake in shares of Trinity Capital in the fourth quarter valued at approximately $101,000. Blue Trust Inc. raised its position in shares of Trinity Capital by 522.1% in the third quarter. Blue Trust Inc. now owns 7,714 shares of the company's stock valued at $109,000 after buying an additional 6,474 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Trinity Capital in the fourth quarter valued at approximately $152,000. Institutional investors and hedge funds own 24.62% of the company's stock.

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.