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

Trio Petroleum Corp. (NYSEAMERICAN:TPET) was the recipient of a large drop in short interest in the month of January. As of January 15th, there was short interest totalling 166,200 shares, a drop of 42.7% from the December 31st total of 290,300 shares. Based on an average trading volume of 4,760,000 shares, the days-to-cover ratio is presently 0.0 days. Currently, 5.2% of the shares of the company are sold short.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Trio Petroleum stock. XTX Topco Ltd raised its position in shares of Trio Petroleum Corp. (NYSEAMERICAN:TPET) by 567.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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. Institutional investors and hedge funds own 0.34% of the company’s stock.

Trio Petroleum Price Performance

TPET stock opened at $1.85 on Friday. The stock has a market capitalization of $4.68 million, a P/E ratio of -0.42 and a beta of -7.91. Trio Petroleum has a fifty-two week low of $0.79 and a fifty-two week high of $14.39.

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.