Trio Petroleum Corp. (NYSEAMERICAN:TPET) Sees Significant Growth in Short Interest

Trio Petroleum Corp. (NYSEAMERICAN:TPET) saw a significant growth in short interest in May. As of May 31st, there was short interest totalling 622,100 shares, a growth of 35.1% from the May 15th total of 460,600 shares. Based on an average daily volume of 222,900 shares, the short-interest ratio is presently 2.8 days. Currently, 8.7% of the shares of the company are short sold.

Trio Petroleum Stock Down 6.6%

NYSEAMERICAN TPET opened at $1.41 on Thursday. Trio Petroleum has a 52 week low of $0.79 and a 52 week high of $6.50. The company has a market capitalization of $10.60 million, a P/E ratio of -0.32 and a beta of -5.64. The stock’s 50-day moving average price is $1.23 and its 200-day moving average price is $1.23.

Institutional Investors Weigh In On Trio Petroleum

An institutional investor recently bought a new position in Trio Petroleum stock. Integrity Wealth Advisors Inc. bought a new position in Trio Petroleum Corp. (NYSEAMERICAN:TPET) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 29,000 shares of the company’s stock, valued at approximately $35,000. Integrity Wealth Advisors Inc. owned 0.43% of Trio Petroleum as of its most recent filing with the SEC. Institutional investors and hedge funds 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.