Trinity Capital Inc. (NASDAQ:TRIN) Short Interest Update

Trinity Capital Inc. (NASDAQ:TRIN) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 1,370,000 shares, an increase of 26.9% from the March 15th total of 1,080,000 shares. Currently, 2.3% of the company’s shares are short sold. Based on an average daily volume of 605,400 shares, the short-interest ratio is presently 2.3 days.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on Trinity Capital from $13.00 to $14.00 and gave the company an “underweight” rating in a research note on Friday, February 28th. UBS Group lowered their price target on shares of Trinity Capital from $18.00 to $16.50 and set a “buy” rating for the company in a report on Thursday, April 17th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Trinity Capital from $15.00 to $16.00 and gave the company a “market perform” rating in a research note on Thursday, February 27th.

Trinity Capital Price Performance

Trinity Capital stock opened at $14.01 on Tuesday. The stock’s 50 day moving average price is $15.40 and its two-hundred day moving average price is $14.76. The stock has a market capitalization of $880.26 million, a price-to-earnings ratio of 8.19 and a beta of 0.56. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.05 and a current ratio of 0.05. Trinity Capital has a 52-week low of $12.50 and a 52-week high of $16.82.

Trinity Capital (NASDAQ:TRIN) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.03. Trinity Capital had a net margin of 40.73% and a return on equity of 15.90%. The business had revenue of $70.83 million during the quarter, compared to analysts’ expectations of $64.13 million. On average, equities analysts predict that Trinity Capital will post 2.06 earnings per share for the current year.

Trinity Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 14.56%. The ex-dividend date of this dividend was Monday, March 31st. Trinity Capital’s dividend payout ratio (DPR) is currently 99.03%.

Hedge Funds Weigh In On Trinity Capital

Institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN raised its holdings in Trinity Capital by 652.3% during the fourth quarter. Wells Fargo & Company MN now owns 243,414 shares of the company’s stock worth $3,522,000 after buying an additional 211,060 shares during the last quarter. Round Rock Advisors LLC acquired a new stake in shares of Trinity Capital in the 4th quarter worth about $2,772,000. Trexquant Investment LP lifted its position in Trinity Capital by 421.3% in the 4th quarter. Trexquant Investment LP now owns 225,710 shares of the company’s stock valued at $3,266,000 after acquiring an additional 182,414 shares in the last quarter. GraniteShares Advisors LLC bought a new stake in Trinity Capital during the 4th quarter worth approximately $2,469,000. Finally, Sovereign s Capital Management LLC purchased a new stake in shares of Trinity Capital in the fourth quarter worth approximately $2,157,000. 24.62% of the stock is owned by institutional investors and hedge funds.

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.