Trinity Capital (NASDAQ:TRIN) Given "Buy" Rating at B. Riley Financial

Key Points

• B. Riley Financial reiterated its Buy rating on Trinity Capital and raised its price target from $19 to $20, implying 12.36% upside from the prior close.
• Analyst views are mixed, but the consensus rating is Moderate Buy with a $17.58 average price target; Trinity shares traded at $17.80.
• Trinity Capital fell slightly short of quarterly expectations, reporting EPS of $0.51 versus $0.52 expected and revenue of $87.17 million versus $91.44 million forecast.

Trinity Capital (NASDAQ:TRIN - Get Free Report)'s stock had its "buy" rating reissued by investment analysts at B. Riley Financial in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $20.00 target price on the stock, up from their previous target price of $19.00. B. Riley Financial's price objective indicates a potential upside of 12.36% from the stock's previous close.

A number of other brokerages have also recently commented on TRIN. Wells Fargo & Company lifted their price objective on Trinity Capital from $15.00 to $16.00 and gave the stock an "underweight" rating in a research note on Thursday. Keefe, Bruyette & Woods increased their target price on Trinity Capital from $16.50 to $18.00 and gave the company a "market perform" rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $17.58.

Trinity Capital Stock Up 0.3%

TRIN stock traded up $0.06 during midday trading on Friday, reaching $17.80. The company's stock had a trading volume of 382,971 shares, compared to its average volume of 1,124,182. The business's 50-day simple moving average is $17.42 and its 200-day simple moving average is $16.72. Trinity Capital has a 52 week low of $14.13 and a 52 week high of $18.90. The stock has a market cap of $1.69 billion, a PE ratio of 9.43 and a beta of 0.66.

Trinity Capital (NASDAQ:TRIN - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The business had revenue of $87.17 million for the quarter, compared to the consensus estimate of $91.44 million. Trinity Capital had a net margin of 43.45% and a return on equity of 14.94%. As a group, equities analysts forecast that Trinity Capital will post 2.10 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Trinity Capital

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Melia Wealth LLC acquired a new position in shares of Trinity Capital in the 2nd quarter valued at approximately $24,221,000. Van ECK Associates Corp raised its holdings in Trinity Capital by 39.3% during the 2nd quarter. Van ECK Associates Corp now owns 2,153,437 shares of the company's stock worth $38,525,000 after buying an additional 607,988 shares during the period. BlackRock Inc. acquired a new stake in Trinity Capital during the 2nd quarter worth approximately $5,134,000. SMH Capital Advisors Inc. acquired a new stake in Trinity Capital during the 3rd quarter worth approximately $3,015,000. Finally, Corient Private Wealth LP bought a new position in Trinity Capital in the second quarter valued at approximately $2,698,000. 24.62% of the stock is owned by institutional investors.

Trinity Capital Company Profile

Trinity Capital Inc NASDAQ: TRIN is a business development company that provides debt financing to venture capital- and private equity-backed companies. The company focuses primarily on growth-stage businesses that may require capital to support expansion, product development, acquisitions, working capital and other corporate needs.

Through its investment platform, Trinity Capital offers a range of financing solutions, including secured loans, equipment financing, growth capital and other customized debt structures.

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