Trinity Capital (NASDAQ:TRIN) Downgraded to “Sell” Rating by Wall Street Zen

Trinity Capital (NASDAQ:TRIN) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

Other analysts also recently issued reports about the stock. Capital One Financial set a $17.00 target price on shares of Trinity Capital in a research report on Thursday, December 11th. Citigroup reiterated an “outperform” rating on shares of Trinity Capital in a report on Tuesday, January 27th. Loop Capital set a $17.00 price objective on shares of Trinity Capital in a report on Thursday, December 11th. Clear Str raised Trinity Capital to a “strong-buy” rating in a research report on Wednesday, February 4th. Finally, Noble Financial began coverage on Trinity Capital in a report on Thursday, December 11th. They issued a “buy” rating for the company. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.29.

Trinity Capital Stock Performance

Shares of TRIN stock opened at $14.34 on Friday. The business’s 50 day moving average price is $15.59 and its 200-day moving average price is $15.34. Trinity Capital has a fifty-two week low of $12.50 and a fifty-two week high of $17.20. The firm has a market cap of $1.19 billion, a P/E ratio of 7.32 and a beta of 0.55.

Trinity Capital (NASDAQ:TRIN) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.01. The business had revenue of $58.89 million for the quarter, compared to analysts’ expectations of $79.83 million. Trinity Capital had a net margin of 46.18% and a return on equity of 14.97%. As a group, equities analysts predict that Trinity Capital will post 2.06 EPS for the current year.

Insider Activity at Trinity Capital

In related news, Chairman Steve Louis Brown bought 27,109 shares of the company’s stock in a transaction on Thursday, March 12th. The shares were acquired at an average cost of $14.75 per share, for a total transaction of $399,857.75. Following the purchase, the chairman directly owned 940,745 shares of the company’s stock, valued at approximately $13,875,988.75. The trade was a 2.97% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Kyle Steven Brown purchased 3,532 shares of the firm’s stock in a transaction on Monday, March 16th. The shares were purchased at an average cost of $14.16 per share, with a total value of $50,013.12. Following the completion of the transaction, the chief executive officer owned 620,709 shares of the company’s stock, valued at approximately $8,789,239.44. The trade was a 0.57% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought a total of 37,682 shares of company stock worth $553,902 over the last ninety days. Insiders own 5.31% of the company’s stock.

Hedge Funds Weigh In On Trinity Capital

Large investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its stake in Trinity Capital by 609.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 136,672 shares of the company’s stock worth $2,072,000 after purchasing an additional 117,420 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of Trinity Capital during the first quarter worth $234,000. Allworth Financial LP acquired a new position in Trinity Capital in the 2nd quarter valued at about $53,000. Dynamic Technology Lab Private Ltd increased its stake in Trinity Capital by 24.1% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 26,177 shares of the company’s stock worth $368,000 after buying an additional 5,077 shares during the period. Finally, JPMorgan Chase & Co. purchased a new position in Trinity Capital in the second quarter valued at $54,000. 24.62% of the stock is currently owned by institutional investors and hedge funds.

About Trinity Capital

Trinity Capital Corporation (NASDAQ: TRIN) is a publicly traded business development company that provides flexible financing solutions to venture-backed and growth-stage companies. As a venture lender, Trinity Capital offers customized capital structures, including secured debt and equity co-investment, designed to support companies that have progressed beyond early-stage funding but still require non-dilutive growth capital.

The company focuses its investments on technology-driven sectors such as software, fintech, healthcare, life sciences and cleantech.