Short Interest in Trinity Capital Inc. (NASDAQ:TRIN) Rises By 22.7%

Trinity Capital Inc. (NASDAQ:TRIN - Get Free Report) was the target of a significant increase in short interest during the month of April. As of April 30th, there was short interest totalling 1,140,000 shares, an increase of 22.7% from the April 15th total of 929,300 shares. Currently, 2.5% of the company's stock are sold short. Based on an average trading volume of 479,300 shares, the days-to-cover ratio is presently 2.4 days.

Insider Transactions at Trinity Capital

In related news, CEO Kyle Steven Brown acquired 3,354 shares of Trinity Capital stock in a transaction on Thursday, March 14th. The shares were purchased at an average cost of $14.91 per share, for a total transaction of $50,008.14. Following the purchase, the chief executive officer now directly owns 821,477 shares of the company's stock, valued at approximately $12,248,222.07. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 7.75% of the company's stock.

Institutional Trading of Trinity Capital

Several hedge funds have recently added to or reduced their stakes in TRIN. Legacy Capital Wealth Partners LLC bought a new stake in shares of Trinity Capital in the fourth quarter valued at about $1,487,000. Quadrature Capital Ltd bought a new stake in shares of Trinity Capital during the third quarter valued at approximately $1,241,000. Barclays PLC acquired a new position in shares of Trinity Capital in the third quarter valued at $1,174,000. Cornerstone Wealth Management LLC bought a new position in Trinity Capital in the fourth quarter worth $172,000. Finally, Stratos Wealth Partners LTD. acquired a new stake in Trinity Capital during the fourth quarter worth $154,000. Institutional investors own 24.62% of the company's stock.

Trinity Capital Stock Up 0.6 %

Shares of NASDAQ:TRIN traded up $0.09 on Monday, reaching $14.97. The company had a trading volume of 291,662 shares, compared to its average volume of 499,932. The stock has a market capitalization of $740.72 million, a P/E ratio of 9.29 and a beta of 0.60. The stock has a 50-day moving average price of $14.71 and a 200 day moving average price of $14.56. Trinity Capital has a twelve month low of $11.40 and a twelve month high of $15.44. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.08.

Trinity Capital (NASDAQ:TRIN - Get Free Report) last posted its earnings results on Wednesday, May 1st. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.03). Trinity Capital had a return on equity of 16.73% and a net margin of 36.12%. The company had revenue of $50.45 million during the quarter, compared to analyst estimates of $50.09 million. During the same quarter last year, the firm posted $0.52 earnings per share. On average, equities analysts expect that Trinity Capital will post 2.14 EPS for the current year.

Trinity Capital Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 13.63%. This is a boost from Trinity Capital's previous quarterly dividend of $0.50. The ex-dividend date was Wednesday, March 27th. Trinity Capital's dividend payout ratio is 126.71%.

Analyst Ratings Changes

Several analysts recently commented on the stock. UBS Group increased their target price on shares of Trinity Capital from $16.00 to $16.50 and gave the company a "buy" rating in a research note on Monday, March 18th. B. Riley cut their price objective on Trinity Capital from $16.50 to $16.00 and set a "buy" rating for the company in a research report on Thursday, May 2nd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $15.50.

Trinity Capital Company Profile

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.