Short Interest in Trio Petroleum Corp. (NYSEAMERICAN:TPET) Increases By 2,667.0%

Trio Petroleum Corp. (NYSEAMERICAN:TPET) was the target of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 3,290,000 shares, a growth of 2,667.0% from the March 31st total of 118,900 shares. Based on an average trading volume of 20,570,000 shares, the days-to-cover ratio is presently 0.2 days. Approximately 13.5% of the company’s shares are sold short.

Trio Petroleum Price Performance

TPET stock remained flat at $0.37 during trading hours on Friday. 6,186,333 shares of the company’s stock traded hands, compared to its average volume of 16,786,275. The company has a market capitalization of $13.59 million and a P/E ratio of -1.31. Trio Petroleum has a 12 month low of $0.08 and a 12 month high of $2.43.

Trio Petroleum (NYSEAMERICAN:TPET) last posted its quarterly earnings data on Monday, March 18th. The company reported ($0.05) earnings per share (EPS) for the quarter.

Insider Activity

In other Trio Petroleum news, Director Frank C. Ingriselli sold 512,704 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 370,000 shares in the company, valued at approximately $62,900. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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.