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Trinity Capital Reaches Analyst Target Price
Monday, November 8, 10:01 AM ET, by Market News Video Staff

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Will Insiders Be Tempted To Buy More TRIN At The New 52-Week Low?

By Market News Video Staff, Thursday, June 30, 1:08 PM ET
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In trading on Thursday, shares of Trinity Capital Inc (NASDAQ:TRIN) touched a new 52-week low of $14.03/share. That's a $6.23 share price drop, or -30.75% decline from the 52-week high of $20.26 set back on 03/29/2022. Large percentage drops always require that the stock post even larger percentage gains from the low in order to recover the old price point, and for TRIN that means the stock would have to gain 44.40% to get back to the 52-week high. For a move like that, Trinity Capital Inc would need fundamental strength at the business level.

Here's a rhetorical question: Who knows more about fundamentals at the business level than the company's own insiders? So let's take a look to see whether any company insiders were taking the other side of the trade as TRIN shares were being sold down to this new 52-week low, focusing on the most recent trailing six month period. As summarized by the table below, TRIN has seen 7 different instances of insiders buying over the past six months.

Purchased Insider Title Shares Price/Share Value
03/18/2022 Steve Louis Brown Chairman and CEO 1,550 $18.27 $28,318.50
03/18/2022 Ronald E. Estes Director 600 $18.14 $10,881.78
03/18/2022 Michael Zacharia Director 1,200 $18.36 $22,032.00
03/18/2022 Michael Zacharia Director 1,000 $18.97 $18,970.00
03/23/2022 Ronald E. Estes Director 325 $18.75 $6,093.75
05/13/2022 Ronald E. Estes Director 3,860 $15.48 $59,752.80
05/12/2022 Gerald Harder Chief Operating Officer 1,000 $15.57 $15,570.00
05/13/2022 Kyle Steven Brown President & CIO 7,982 $15.37 $122,706.17
05/12/2022 Michael Zacharia Director 3,900 $15.02 $58,578.00
05/12/2022 David Michael Lund CFO, EVP - Finance & Treasurer 3,200 $15.29 $48,928.00
05/25/2022 Ronald E. Estes Director 300 $15.49 $4,647.00
05/24/2022 Richard P. Hamada Director 5,058 $15.00 $75,870.00
05/20/2022 Kyle Steven Brown President & CIO 3,377 $14.80 $49,979.60

In the short run, while the new 52-week low suggests the stock is at the cheapest price and perhaps therefore the best bargain it has been over the last 52 weeks, the low print also means anyone who has purchased the stock over that timeframe is staring at an unrealized loss. Oftentimes, that factor drives a stock's technical analysis metrics by creating overhead resistance, with investors who bought higher now anxious to reverse their trade once they are back to breakeven. The chart below shows where TRIN has traded over the past year, with the 50-day and 200-day moving averages included.

Trinity Capital Inc Moving Averages Chart

Time will tell whether the insider purchases foretell a future rebound for TRIN shares, which are presently showing a last trade of $14.57/share, slightly above the new 52-week low.


This Article's Word Cloud:   Bargains   Brown   Capital   Chairman   Cheaper   Chief   David   Director   Estes   Finance   Gerald   Hamada   Harder   Here   Insider   Insiders   Kyle   Large   Louis   Michael   President   Ronald   Steven   TRIN   Trinity   Zacharia   back   below   business   company   from   high   insiders   last   level   means   over   past   percentage   price   share   shares   stock   that   trade   week   were   whether   with   would
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