Trio Petroleum Corp. (NYSEAMERICAN:TPET) Short Interest Update

Trio Petroleum Corp. (NYSEAMERICAN:TPET) was the target of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 452,800 shares, a growth of 985.9% from the February 29th total of 41,700 shares. Approximately 2.0% of the company’s shares are sold short. Based on an average daily volume of 2,250,000 shares, the short-interest ratio is currently 0.2 days.

Trio Petroleum Price Performance

Shares of NYSEAMERICAN TPET traded up $0.00 during midday trading on Thursday, hitting $0.09. 683,377 shares of the company traded hands, compared to its average volume of 2,411,553. The stock has a market capitalization of $3.19 million and a P/E ratio of -0.30. Trio Petroleum has a 12-month low of $0.08 and a 12-month high of $3.00.

Trio Petroleum (NYSEAMERICAN:TPET) last announced its quarterly earnings data on Monday, January 29th. The company reported ($0.03) earnings per share (EPS) for the quarter.

Insiders Place Their Bets

In other Trio Petroleum news, Director Frank C. Ingriselli sold 512,704 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $0.17, for a total value of $87,159.68. Following the completion of the sale, the director now directly owns 370,000 shares of the company’s stock, valued at $62,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Hedge Funds Weigh In On Trio Petroleum

A hedge fund recently bought a new stake in Trio Petroleum stock. SkyView Investment Advisors LLC acquired a new stake in shares of Trio Petroleum Corp. (NYSEAMERICAN:TPET) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 25,000 shares of the company’s stock, valued at approximately $42,000. SkyView Investment Advisors LLC owned approximately 0.10% of Trio Petroleum at the end of the most recent reporting period. Institutional investors own 0.34% of the company’s stock.

Trio Petroleum Company Profile

Trio Petroleum Corp. operates as an oil and gas exploration and development company. The company's flagship project comprises the 85.75% owned working interest in the South Salinas project that consists of approximately 9,300-acre located in Monterey, California. It also owns 22% working interest in the McCool Ranch Oil Field located in Monterey County, California; 2% production interest in the Asphalt Ridge project comprises approximately 960 acres located in southwest of Vernal, Utah; and holds an option agreement to acquire 100% working interest in the Union Avenue Field located in Bakersfield, California.