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

Trio Petroleum Corp. (NYSEAMERICAN:TPET) saw a significant drop in short interest during the month of August. As of August 31st, there was short interest totaling 406,085 shares, a drop of 79.8% from the August 15th total of 2,007,215 shares. Based on an average trading volume of 158,550 shares, the days-to-cover ratio is presently 2.6 days. Currently, 8.7% of the company’s shares are short sold.

Trio Petroleum Price Performance

Shares of Trio Petroleum stock traded down $0.14 during midday trading on Friday, reaching $1.88. The company had a trading volume of 1,088,177 shares, compared to its average volume of 1,269,974. The stock has a fifty day moving average price of $2.31 and a 200 day moving average price of $4.39. Trio Petroleum has a fifty-two week low of $1.68 and a fifty-two week high of $22.50. The firm has a market cap of $10.00 million, a PE ratio of -0.69 and a beta of -4.79.

Trio Petroleum (NYSEAMERICAN:TPET) last released its earnings results on Wednesday, September 9th. The company reported ($0.39) earnings per share for the quarter. Trio Petroleum had a negative net margin of 830.43% and a negative return on equity of 29.90%. The firm had revenue of $0.35 million for the quarter.

Hedge Funds Weigh In On Trio Petroleum

A hedge fund recently bought a new position in Trio Petroleum stock. Cygnus Capital Advisors LLC bought a new stake in Trio Petroleum Corp. (NYSEAMERICAN:TPET) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 859,342 shares of the company’s stock, valued at approximately $266,000. Cygnus Capital Advisors LLC owned 17.47% of Trio Petroleum as of its most recent SEC filing. 0.34% of the stock is owned by institutional investors.

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.