Wells Fargo & Company Reaffirms “Underweight” Rating for Trinity Capital (NASDAQ:TRIN)

Trinity Capital (NASDAQ:TRIN)‘s stock had its “underweight” rating reissued by analysts at Wells Fargo & Company in a research report issued to clients and investors on Monday, MarketBeat reports. They presently have a $13.00 price objective on the stock. Wells Fargo & Company‘s target price would suggest a potential downside of 9.34% from the company’s previous close.

Trinity Capital Trading Down 0.7 %

Shares of TRIN opened at $14.34 on Monday. Trinity Capital has a fifty-two week low of $13.05 and a fifty-two week high of $15.44. The company has a market capitalization of $844.77 million, a PE ratio of 8.41 and a beta of 0.56. The stock has a fifty day moving average of $13.93 and a two-hundred day moving average of $14.22. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.05 and a current ratio of 0.05.

Insider Buying and Selling at Trinity Capital

In related news, Chairman Steve Louis Brown bought 19,350 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was purchased at an average cost of $13.12 per share, for a total transaction of $253,872.00. Following the completion of the acquisition, the chairman now owns 722,182 shares in the company, valued at $9,475,027.84. This trade represents a 2.75 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kyle Steven Brown purchased 7,562 shares of the business’s stock in a transaction on Friday, November 1st. The shares were bought at an average cost of $13.39 per share, for a total transaction of $101,255.18. Following the purchase, the chief executive officer now owns 964,832 shares of the company’s stock, valued at $12,919,100.48. This trade represents a 0.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 29,702 shares of company stock worth $392,696 in the last 90 days. 6.38% of the stock is owned by company insiders.

Institutional Investors Weigh In On Trinity Capital

Institutional investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Trinity Capital by 9.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 11,173 shares of the company’s stock worth $152,000 after purchasing an additional 918 shares during the period. PFG Investments LLC raised its holdings in Trinity Capital by 12.9% in the third quarter. PFG Investments LLC now owns 12,326 shares of the company’s stock valued at $167,000 after buying an additional 1,411 shares during the period. State Street Corp lifted its position in Trinity Capital by 3.3% during the third quarter. State Street Corp now owns 61,170 shares of the company’s stock valued at $861,000 after buying an additional 1,936 shares in the last quarter. Cornerstone Wealth Management LLC lifted its position in Trinity Capital by 9.5% during the third quarter. Cornerstone Wealth Management LLC now owns 22,798 shares of the company’s stock valued at $309,000 after buying an additional 1,983 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in Trinity Capital during the second quarter worth approximately $35,000. Hedge funds and other 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.