Trinity Biotech Stock to Reverse Split on Friday, July 24th (NASDAQ:TRIB)

Trinity Biotech PLC (NASDAQ:TRIB) shares are going to reverse split before the market opens on Friday, July 24th. The 1-30 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, July 23rd.

Trinity Biotech Trading Down 1.9%

Shares of TRIB traded down $0.01 during mid-day trading on Wednesday, hitting $0.39. The company’s stock had a trading volume of 192,113 shares, compared to its average volume of 761,416. Trinity Biotech has a 1-year low of $0.31 and a 1-year high of $3.44. The firm has a 50-day simple moving average of $0.57 and a 200 day simple moving average of $0.68. The firm has a market capitalization of $1.40 million and a P/E ratio of -0.23.

Trinity Biotech (NASDAQ:TRIB) last released its quarterly earnings data on Tuesday, June 16th. The company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.08. The company had revenue of $10.85 million for the quarter, compared to analysts’ expectations of $10.68 million.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded Trinity Biotech from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, May 8th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Trinity Biotech currently has a consensus rating of “Reduce”.

Institutional Investors Weigh In On Trinity Biotech

Hedge funds have recently bought and sold shares of the business. Citadel Advisors LLC boosted its holdings in shares of Trinity Biotech by 196.1% in the 3rd quarter. Citadel Advisors LLC now owns 39,384 shares of the company’s stock valued at $41,000 after buying an additional 26,084 shares during the period. Hunter Associates Investment Management LLC boosted its stake in Trinity Biotech by 8.1% in the fourth quarter. Hunter Associates Investment Management LLC now owns 526,610 shares of the company’s stock valued at $417,000 after acquiring an additional 39,500 shares during the period. Williams & Novak LLC grew its holdings in shares of Trinity Biotech by 677.5% during the fourth quarter. Williams & Novak LLC now owns 93,300 shares of the company’s stock valued at $74,000 after purchasing an additional 81,300 shares during the last quarter. Yorkville Advisors Global LP bought a new position in shares of Trinity Biotech during the first quarter valued at approximately $122,000. Finally, Perceptive Advisors LLC acquired a new stake in shares of Trinity Biotech during the 2nd quarter worth approximately $1,164,000. Institutional investors and hedge funds own 78.97% of the company’s stock.

Trinity Biotech Company Profile

Trinity Biotech plc is a global diagnostic healthcare company headquartered in Bray, Ireland. The firm specializes in the development, manufacture and marketing of in vitro diagnostic products aimed at the detection and management of chronic and infectious diseases. Its offerings are designed to deliver timely and accurate results for a range of healthcare settings, from central laboratories to point‐of‐care environments.

The company’s product portfolio includes a comprehensive array of assays and instrumentation.