Trio-Tech International (NYSE:TRT) Stock Jumps 3.7% - Here's Why

Key Points

• Trio-Tech International shares rose 3.7% to $5.10 in Monday trading, although volume was 79% below the stock’s average daily volume.
• D. Boral Capital initiated coverage with a Buy rating and a $17 price target, matching the company’s current consensus rating and target from one covering analyst.
• Several institutional investors increased their holdings during the first quarter, while institutions collectively own 16.03% of Trio-Tech’s shares.

Trio-Tech International (NYSE:TRT - Get Free Report) shares shot up 3.7% during trading on Monday. The company traded as high as $5.19 and last traded at $5.10. Approximately 125,322 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 609,487 shares. The stock had previously closed at $4.92.

Wall Street Analysts Forecast Growth

Separately, D. Boral Capital assumed coverage on Trio-Tech International in a research note on Monday, September 28th. They set a "buy" rating and a $17.00 price objective for the company. One equities research analyst has rated the stock with a Buy rating. According to MarketBeat, Trio-Tech International has a consensus rating of "Buy" and a consensus price target of $17.00.

Trio-Tech International Stock Up 3.7%

The stock has a market capitalization of $52.90 million, a price-to-earnings ratio of 36.43 and a beta of 2.02. The firm's fifty day moving average is $8.98 and its 200-day moving average is $10.32. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.54 and a quick ratio of 4.25.

Hedge Funds Weigh In On Trio-Tech International

Several large investors have recently modified their holdings of TRT. Compound Planning Inc. grew its stake in Trio-Tech International by 85.8% in the first quarter. Compound Planning Inc. now owns 621,500 shares of the company's stock worth $3,592,000 after purchasing an additional 287,000 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Trio-Tech International by 100.1% in the first quarter. Renaissance Technologies LLC now owns 325,526 shares of the company's stock valued at $1,882,000 after buying an additional 162,848 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Trio-Tech International by 98.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 243,724 shares of the company's stock worth $1,409,000 after buying an additional 120,888 shares during the last quarter. Empowered Funds LLC grew its position in shares of Trio-Tech International by 33.2% in the 1st quarter. Empowered Funds LLC now owns 49,882 shares of the company's stock worth $288,000 after acquiring an additional 12,441 shares in the last quarter. Finally, James Investment Research Inc. grew its position in shares of Trio-Tech International by 100.0% in the 1st quarter. James Investment Research Inc. now owns 24,016 shares of the company's stock worth $139,000 after acquiring an additional 12,008 shares in the last quarter. Institutional investors own 16.03% of the company's stock.

Trio-Tech International Company Profile

Trio-Tech International NYSE: TRT provides semiconductor manufacturing, testing, and related equipment and services. The company's activities include semiconductor and electronic-component testing, wafer sorting, final testing, burn-in, reliability testing, and failure analysis. Its equipment offerings are designed for semiconductor and other electronic manufacturing applications.

Trio-Tech also manufactures and distributes products used in semiconductor processing and testing, including systems for burn-in, reliability evaluation, and related production requirements.

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