Trio Petroleum Corp. (NYSEAMERICAN:TPET) Sees Large Decrease in Short Interest

Trio Petroleum Corp. (NYSEAMERICAN:TPET) saw a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 603,600 shares, a decline of 27.8% from the September 15th total of 836,400 shares. Based on an average trading volume of 3,260,000 shares, the days-to-cover ratio is currently 0.2 days. Approximately 1.6% of the company’s shares are short sold.

Institutional Investors Weigh In On Trio Petroleum

An institutional investor recently raised its position in Trio Petroleum stock. XTX Topco Ltd boosted its stake in Trio Petroleum Corp. (NYSEAMERICAN:TPET) by 567.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 84,481 shares of the company’s stock after purchasing an additional 71,826 shares during the quarter. XTX Topco Ltd owned about 0.17% of Trio Petroleum worth $26,000 as of its most recent SEC filing. 0.34% of the stock is currently owned by hedge funds and other institutional investors.

Trio Petroleum Stock Up 1.0 %

TPET stock opened at $0.17 on Friday. The firm has a market cap of $8.56 million, a PE ratio of -0.77 and a beta of -8.74. Trio Petroleum has a twelve month low of $0.08 and a twelve month high of $0.74.

Trio Petroleum (NYSEAMERICAN:TPET) last released its earnings results on Thursday, September 12th. The company reported ($0.04) earnings per share for the quarter. The firm had revenue of $0.06 million during the quarter.

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.