StockNews.com Initiates Coverage on Trinity Biotech (NASDAQ:TRIB)

Investment analysts at StockNews.com started coverage on shares of Trinity Biotech (NASDAQ:TRIB) in a research report issued to clients and investors on Tuesday. The firm set a “buy” rating on the stock.

Trinity Biotech Stock Performance

NASDAQ:TRIB opened at $0.72 on Tuesday. The business’s fifty day moving average is $0.87 and its 200 day moving average is $0.94. The firm has a market cap of $27.44 million, a price-to-earnings ratio of -0.77 and a beta of 1.45. Trinity Biotech has a 52-week low of $0.63 and a 52-week high of $1.41.

Trinity Biotech (NASDAQ:TRIB) last posted its earnings results on Thursday, July 6th. The company reported ($0.16) earnings per share for the quarter. Trinity Biotech had a negative net margin of 48.76% and a negative return on equity of 870.11%. The company had revenue of $14.83 million for the quarter. Equities analysts predict that Trinity Biotech will post -0.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Trinity Biotech

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. purchased a new position in Trinity Biotech during the second quarter worth about $106,000. Atria Wealth Solutions Inc. grew its holdings in shares of Trinity Biotech by 38.9% during the fourth quarter. Atria Wealth Solutions Inc. now owns 34,300 shares of the company’s stock worth $34,000 after purchasing an additional 9,600 shares in the last quarter. Renaissance Technologies LLC increased its position 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 during the last quarter. Virtu Financial LLC purchased a new stake in Trinity Biotech in the first quarter valued at approximately $40,000. Finally, Whitefort Capital Management LP raised its stake in Trinity Biotech by 1,067.8% in 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. Hedge funds and other institutional investors own 16.28% 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.