Trinity Biotech (NASDAQ:TRIB) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Shares of Trinity Biotech PLC (NASDAQ:TRIB) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.74 and traded as high as $1.76. Trinity Biotech shares last traded at $1.56, with a volume of 1,134,177 shares changing hands.

Analysts Set New Price Targets

TRIB has been the topic of several recent research reports. Wall Street Zen initiated coverage on shares of Trinity Biotech in a research note on Saturday, May 17th. They issued a “sell” rating on the stock. Zacks Research raised Trinity Biotech to a “hold” rating in a research note on Monday, August 11th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold”.

Trinity Biotech Stock Down 10.3%

The firm has a market cap of $28.16 million, a price-to-earnings ratio of -0.53 and a beta of 0.77. The business has a 50 day moving average price of $0.84 and a 200-day moving average price of $0.74.

Hedge Funds Weigh In On Trinity Biotech

A hedge fund recently raised its stake in Trinity Biotech stock. Hunter Associates Investment Management LLC increased its stake in Trinity Biotech PLC (NASDAQ:TRIB) by 16.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 437,910 shares of the company’s stock after purchasing an additional 62,800 shares during the quarter. Hunter Associates Investment Management LLC owned about 2.43% of Trinity Biotech worth $284,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 78.97% of the company’s stock.

About Trinity Biotech

Trinity Biotech plc acquires, together with its subsidiaries, develops, acquires, manufactures, and markets medical diagnostic products for the clinical laboratory and point-of-care (POC) segments of the diagnostic market in the Americas and Ireland. The company offers clinical laboratory products, including diagnostic tests and instrumentation, which detects infectious diseases; sexually transmitted diseases consisting of 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.