Trinity Capital Inc. (NASDAQ:TRIN) Short Interest Up 26.9% in March

Trinity Capital Inc. (NASDAQ:TRIN - Get Free Report) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 1,370,000 shares, an increase of 26.9% from the March 15th total of 1,080,000 shares. Approximately 2.3% of the shares of the company are sold short. Based on an average trading volume of 605,400 shares, the days-to-cover ratio is presently 2.3 days.

Institutional Trading of Trinity Capital

Several institutional investors have recently made changes to their positions in TRIN. Farther Finance Advisors LLC bought a new position in Trinity Capital in the 1st quarter worth approximately $38,000. McIlrath & Eck LLC purchased a new position in Trinity Capital during the third quarter valued at $57,000. Trust Co. of Vermont bought a new stake in Trinity Capital in the 4th quarter valued at $101,000. Aquatic Capital Management LLC purchased a new stake in Trinity Capital in the 4th quarter worth $124,000. Finally, Blue Trust Inc. boosted its holdings in shares of Trinity Capital by 27.2% during the 4th quarter. Blue Trust Inc. now owns 9,814 shares of the company's stock valued at $133,000 after purchasing an additional 2,100 shares during the last quarter. Hedge funds and other institutional investors own 24.62% of the company's stock.

Trinity Capital Stock Performance

Shares of NASDAQ:TRIN traded up $0.21 during midday trading on Friday, hitting $14.92. The company had a trading volume of 280,404 shares, compared to its average volume of 520,440. Trinity Capital has a 12-month low of $12.50 and a 12-month high of $16.82. The company has a fifty day moving average of $15.33 and a two-hundred day moving average of $14.77. The company has a market cap of $937.12 million, a price-to-earnings ratio of 8.71 and a beta of 0.56. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.05 and a quick ratio of 0.05.

Trinity Capital (NASDAQ:TRIN - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.03. Trinity Capital had a net margin of 40.73% and a return on equity of 15.90%. The business had revenue of $70.83 million for the quarter, compared to the consensus estimate of $64.13 million. On average, equities research analysts expect that Trinity Capital will post 2.06 EPS for the current fiscal year.

Trinity Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a $0.51 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.04 annualized dividend and a dividend yield of 13.68%. Trinity Capital's payout ratio is 99.03%.

Analyst Ratings Changes

TRIN has been the subject of several research reports. Keefe, Bruyette & Woods boosted their price objective on shares of Trinity Capital from $15.00 to $16.00 and gave the company a "market perform" rating in a report on Thursday, February 27th. Wells Fargo & Company lifted their price objective on Trinity Capital from $13.00 to $14.00 and gave the stock an "underweight" rating in a report on Friday, February 28th. Finally, UBS Group lowered their target price on Trinity Capital from $18.00 to $16.50 and set a "buy" rating on the stock in a report on Thursday, April 17th.

About Trinity Capital

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.