Trinity Capital (NASDAQ:TRIN) Given New $14.00 Price Target at Wells Fargo & Company

Trinity Capital (NASDAQ:TRIN) had its target price upped by equities research analysts at Wells Fargo & Company from $13.00 to $14.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential downside of 15.02% from the stock’s current price.

Separately, Keefe, Bruyette & Woods increased their target price on Trinity Capital from $15.00 to $16.00 and gave the company a “market perform” rating in a research note on Thursday.

Trinity Capital Stock Up 1.6 %

Shares of NASDAQ TRIN traded up $0.26 during trading on Friday, reaching $16.48. 283,703 shares of the stock were exchanged, compared to its average volume of 549,700. The business’s 50-day moving average price is $15.15 and its 200 day moving average price is $14.42. The company has a market capitalization of $970.48 million, a price-to-earnings ratio of 9.63 and a beta of 0.56. Trinity Capital has a twelve month low of $13.05 and a twelve month high of $16.82. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.07.

Trinity Capital (NASDAQ:TRIN) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.03. Trinity Capital had a net margin of 40.73% and a return on equity of 15.90%. The company had revenue of $70.83 million during the quarter, compared to analysts’ expectations of $64.13 million. As a group, equities analysts forecast that Trinity Capital will post 2.06 EPS for the current fiscal year.

Institutional Trading of Trinity Capital

Hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp increased its stake in shares of Trinity Capital by 6.8% in the fourth quarter. Van ECK Associates Corp now owns 1,389,788 shares of the company’s stock valued at $20,110,000 after purchasing an additional 88,698 shares during the period. Melia Wealth LLC boosted its stake in Trinity Capital by 3.0% in the 4th quarter. Melia Wealth LLC now owns 1,096,969 shares of the company’s stock worth $15,873,000 after purchasing an additional 32,107 shares during the period. Rockefeller Capital Management L.P. grew its stake in Trinity Capital by 9.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 843,849 shares of the company’s stock valued at $12,211,000 after acquiring an additional 71,633 shares in the last quarter. Emerald Advisers LLC grew its holdings in shares of Trinity Capital by 11.3% during the 3rd quarter. Emerald Advisers LLC now owns 804,942 shares of the company’s stock valued at $10,923,000 after acquiring an additional 82,001 shares in the last quarter. Finally, Ares Management LLC grew its stake in shares of Trinity Capital by 25.0% in the 4th quarter. Ares Management LLC now owns 549,839 shares of the company’s stock valued at $7,956,000 after buying an additional 109,839 shares in the last quarter. Institutional investors own 24.62% of the company’s stock.

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.