Zacks Investment Research Upgrades Triterras (NASDAQ:TRIT) to “Hold”

Triterras (NASDAQ:TRIT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Triterras Inc. is a fintech company. It is focused on trade and trade finance. The company launched and operates Kratos(TM) for commodity trading and trade finance platforms. Triterras Fintech Pte. Ltd., formerly known as Netfin Acquisition Corp., is based in NEW YORK. “

Separately, B. Riley reduced their target price on shares of Triterras from $12.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday, May 18th.

Shares of TRIT stock opened at $5.55 on Wednesday. Triterras has a 12 month low of $4.68 and a 12 month high of $15.45. The firm’s 50 day simple moving average is $6.11.

Large investors have recently modified their holdings of the stock. UBS Group AG lifted its position in Triterras by 200.8% during the first quarter. UBS Group AG now owns 4,380 shares of the company’s stock valued at $32,000 after purchasing an additional 2,924 shares during the last quarter. Goldman Sachs Group Inc. purchased a new stake in shares of Triterras in the first quarter valued at $86,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Triterras in the first quarter valued at $106,000. Penserra Capital Management LLC purchased a new position in Triterras in the 4th quarter worth about $170,000. Finally, Cetera Advisor Networks LLC purchased a new position in Triterras in the 4th quarter worth about $199,000. Hedge funds and other institutional investors own 14.31% of the company’s stock.

Triterras Company Profile

Triterras, Inc operates as a fintech company. It operates Kratos, a commodity trading and trade finance platforms that connects and enables commodity traders to trade and source capital from lenders directly online. The company is headquartered in Singapore.

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