Trinity Capital (NASDAQ:TRIN) Price Target Cut to $16.00

Trinity Capital (NASDAQ:TRIN) had its price objective dropped by stock analysts at B. Riley from $16.50 to $16.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. B. Riley’s target price points to a potential upside of 9.36% from the company’s previous close.

Separately, UBS Group upped their price target on Trinity Capital from $16.00 to $16.50 and gave the company a “buy” rating in a research report on Monday, March 18th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $15.50.

Trinity Capital Stock Performance

Trinity Capital stock traded up $0.15 during mid-day trading on Thursday, reaching $14.63. The company’s stock had a trading volume of 386,297 shares, compared to its average volume of 465,243. The firm’s fifty day moving average price is $14.66 and its two-hundred day moving average price is $14.50. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.06 and a current ratio of 0.06. Trinity Capital has a 12-month low of $11.32 and a 12-month high of $15.44. The company has a market capitalization of $723.89 million, a P/E ratio of 9.09 and a beta of 0.60.

Trinity Capital (NASDAQ:TRIN) last announced its quarterly 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 net margin of 36.12% and a return on equity of 16.73%. The company had revenue of $50.45 million during the quarter, compared to analysts’ expectations of $50.09 million. During the same quarter last year, the firm posted $0.52 earnings per share. Sell-side analysts predict that Trinity Capital will post 2.19 EPS for the current fiscal year.

Insider Activity

In related news, CEO Kyle Steven Brown acquired 3,354 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were bought at an average cost of $14.91 per share, for a total transaction of $50,008.14. Following the completion of the transaction, the chief executive officer now owns 821,477 shares in the company, valued at $12,248,222.07. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 7.75% of the company’s stock.

Hedge Funds Weigh In On Trinity Capital

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Tucker Asset Management LLC purchased a new stake in shares of Trinity Capital in the 4th quarter valued at $45,000. Tower Research Capital LLC TRC grew its holdings in shares of Trinity Capital by 3,460.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,560 shares of the company’s stock valued at $52,000 after purchasing an additional 3,460 shares during the last quarter. Avior Wealth Management LLC grew its holdings in shares of Trinity Capital by 76.9% during the 4th quarter. Avior Wealth Management LLC now owns 4,119 shares of the company’s stock valued at $60,000 after purchasing an additional 1,791 shares during the last quarter. Cape Investment Advisory Inc. bought a new position in shares of Trinity Capital during the 4th quarter valued at $107,000. Finally, C M Bidwell & Associates Ltd. bought a new position in shares of Trinity Capital during the 3rd quarter valued at $126,000. 24.62% of the stock is currently owned by hedge funds and other institutional investors.

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.