Short Interest in Trinity Biotech plc (NASDAQ:TRIB) Grows By 1,232.5%

Trinity Biotech plc (NASDAQ:TRIB) saw a significant growth in short interest in August. As of August 31st, there was short interest totalling 213,200 shares, a growth of 1,232.5% from the August 15th total of 16,000 shares. Based on an average daily volume of 1,250,000 shares, the days-to-cover ratio is currently 0.2 days. Currently, 1.8% of the company’s stock are sold short.

Trinity Biotech Stock Performance

Shares of TRIB stock traded up $0.01 during mid-day trading on Thursday, hitting $1.63. The company’s stock had a trading volume of 66,658 shares, compared to its average volume of 502,434. Trinity Biotech has a 52-week low of $1.49 and a 52-week high of $4.18. The business has a 50-day moving average price of $2.49 and a 200 day moving average price of $2.18. The stock has a market cap of $12.39 million, a price-to-earnings ratio of -0.58 and a beta of 1.22.

Trinity Biotech (NASDAQ:TRIB) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.55) earnings per share for the quarter, topping the consensus estimate of ($0.65) by $0.10. The business had revenue of $15.84 million during the quarter, compared to analysts’ expectations of $15.75 million. Equities research analysts predict that Trinity Biotech will post -1.91 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com started coverage on Trinity Biotech in a research note on Friday, August 30th. They set a “buy” rating for the company.

Trinity Biotech Company Profile

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.